Penang takes multi-pronged approach to drive industries forward

THE Penang government has taken a multi-pronged approach to propel industries in the state, especially during this Covid-19 pandemic period, the Chief Minister’s special advisor Datuk Seri Lee Kah Choon said.

 

“We have to ensure that we emerge stronger from this situation and we must not be complacent with what we have achieved.

 

“Firstly, the state assists new and existing investors in their on-the-ground project implementation.

 

“The state government also facilitates cross border business travelling by working together with the central government.

 

“Besides that, we coordinate the roll-out of the Covid-19 vaccination programme.

 

“We have also formed the working committee to address pandemic-related issues.

 

“Besides that, the state has rolled out many initiatives to support the businesses in Penang,” he said in his presentation during the virtual dialogue session entitled ‘Penang: A Sustainable Investment Location’, organised by InvestPenang today.

 

Chow (centre) together with Lee and InvestPenang chief executive officer Datuk Loo Lee Lian (right) participate in the virtual dialogue session.

 

Lee also mentioned several smart initiatives – cashless initiatives, Penang Smart Parking, smart e-Governance, smart economy (Penang i4.0 Seed Fund), smart community (Penang Digital Library), smart mobility (smart bike sharing system) – which the Penang government has implemented.

 

“The state also implements green initiatives through education and technology,” he said.

 

Lee added that Penang maintains a competitive edge over other locations.

 

“We have a successful track record with 50 years of industrial experience and have a robust supply chain. Penang is home to over 350 multi-national corporations (MNCs).

 

“Penang also has a strong talent pool besides being a state that is suitable to live, work and play,” he said.

 

Chief Minister Chow Kon Yeow said that Penang continued to excel in its key promoted industries, such as the Electrical and Electronics (E&E) industry, Mechanical and Electrical (M&E) industry and Medical Technology industry.

 

Chow taking part in the virtual dialogue session on ‘Penang: A Sustainable Investment Location’, organised by InvestPenang.

 

“Remarkably, the state’s exports in semiconductor have accounted for about 5% of the global exports in 2019. This attests the significance of Penang as one of the biggest E&E manufacturing and assembling hubs in the world.

 

“Penang also has more than 70 smart initiatives that touch on smart government, mobility, environment, economy and community.

 

“Some of these initiatives are done in collaboration with the private sector,” he said.

 

Chow stressed that economic growth was not limited to mere financial returns.

 

“It must also be able to provide resources at the community and state level, so that we can develop better to serve the society while protecting the environment,” he said.

 

Chow said that the state has set up the Penang Socio-Economic Recovery Consultative Council (PSERCC) working committee with the purpose of formulating short and medium-term strategies to stimulate economic growth, attract foreign and local investments and ensure sustainable socio-economic development.

 

“This working committee, formed by representatives from the government and the private sector, is tasked to identify current challenges and to propose appropriate remedial measures to regain the state’s momentum for economic recovery and stability,” he said.

 

Chow also said that Penang had allocated over RM170 million under the Penang People’s Aid Packages to assist affected households and businesses due to the Covid-19 pandemic.

 

 

Story by Christopher Tan

Pix by Noor Siti Nabilah Noorazis