PENANG is poised to contribute towards the semiconductor industry’s goal of achieving US$1 trillion in sales by 2030.
Chief Minister Chow Kon Yeow said Penang has sustained its status as a preferred investment destination despite the recent global slowdown.
“On the trade front, Penang has demonstrated its significance in the electrical and electronics (E&E) sector by constantly contributing between 56% and 60% of the country’s E&E exports over the past four years.
“In 2022, the state reached its all-time high of RM452 billion in total exports and recorded a trade surplus of RM126 billion, which represented 49% of the country’s total.
“Our commitment to promoting a supportive and dynamic business environment has helped to attract leading companies from around the world to establish their operations here.
“The state, through its investment arm InvestPenang, commits to nurturing the growth of emerging subsectors, extending Penang’s depth and breadth in the semiconductor industry,” he said in his speech during the SEMICON Southeast Asia (SEA) 2023 opening ceremony at Setia SPICE Convention Centre in Bayan Lepas today.
The three-day event with its theme ‘Boosting Agility and Resiliency for the Electronics Supply Chain’ aims to strengthen Penang’s competitiveness in the global arena.
Chow said the state was proud to be able to showcase its strengths in the field of industry.
“I am confident that SEMICON SEA 2023 can be a catalyst for the development of innovative technologies and effective solutions, inspiring all stakeholders to move forward.
“I wish to assure all industry players that the state government, through InvestPenang and other relevant state agencies, strives to provide unwavering support to the investors.
“We will remain vigilant in our efforts to ensure a healthy pipeline of industry-ready talent pool and the provision of future-proof infrastructure, including transportation systems and digital connectivity,” he said.
Chow also conveyed his appreciation to the Investment, Trade and Industry Ministry (MITI) and the Malaysian Malaysian Investment Development Authority (MIDA) for their support in propelling the state and country to greater heights.
Deputy Prime Minister Datuk Seri Dr Ahmad Zahid Hamidi, who was present, lauded the contribution of Penang’s semiconductor industry.
“It is an important sector that is expected to grow over the years.
“Malaysia’s E&E industry is home to some of the world’s leading semiconductor companies.
“The industry is supported by a strong ecosystem consisting of suppliers and partners, including universities, research institutions, and government agencies,” he said.
Zahid also emphasised the need to promote STEM (Science, Technology, Engineering & Mathematics) education.
“Nowadays, there is a decline in interest among students in STEM education. As the chairman of the National TVET committee, it is my responsibility to collaborate with the industry players,” he said, adding that the industry players play a pivotal role to lift the sector.
Also present were state Trade, Industry and Entrepreneur Development Committee chairman Datuk Abdul Halim Hussain, MITI deputy secretary-general (Industry) Datuk Hanafi Sakri, MIDA deputy chief executive director Lim Bee Vian, Chow’s special investment advisor Datuk Seri Lee Kah Choon, SEMI Global president and chief executive officer Ajit Manocha, SEMI Southeast Asia Regional Advisory Board (RAB) chairman KC Ang, and SEMI Southeast Asia president Linda Tan.
Story by Edmund Lee
Pix by Noor Siti Nabilah Noorazis
Video by Adleena Rahayu Ahmad Radzi