The Malaysian International Chamber of Commerce and Industry (MICCI) Northern Branch recently held its annual luncheon dialogue themed “Enhancing Penang’s Competitiveness Beyond 2030” with Chief Minister of Penang, Chow Kon Yeow, shed lighting on his vision and the key focus areas for Penang’s future development to achieve its Penang 2030 goals.
Chief Minister Chow revealed that Penang achieved a significant milestone by recording RM41.152 billion in exports in March this year, constituting an impressive 32% share of the nation’s exports. This accomplishment underscores Penang’s pivotal role in driving Malaysia’s economic growth and status as a global trading hub.
Dato’ Brian Tan, Chairman of MICCI Northern Branch said, “Penang has a rich heritage, vibrant culture, and dynamic economy, making it stand as a beacon of progress and innovation not only within Malaysia but across the ASEAN region.
“It continues to have immense potential for further advancement in being competitive and relevant in the global landscape through key industries across trade and technology. Dialogues like these are crucial to bridge the gaps between the industry, government and its agencies to align our goals and strategies.
“It is through collaborative efforts and collective engagement that we can chart a course towards a more competitive and sustainable future for Penang.”
He also unveiled several pivotal initiatives aimed at bolstering Penang’s standing as a global economic powerhouse across three key industries – trade, technology and tourism. With Penang being known for producing five percent of the world’s semiconductors, Chow reaffirms its pivotal role in global technology supply chains with plans to further advance the semiconductor industry.
Additionally, the Penang Port Master Plan 2023 – 2053 will be prioritised to ensure that Penang remains a vital hub for international trade and efforts are underway to enhance port and cruise businesses.
The Penang state government also plans to revitalise key waterfront areas and undergo urban rejuvenation across Swettenham Pier’s godowns and warehouses, coupled with enhancements in the Butterworth area through the Penang Bay Project.
Furthermore, Chief Minister Chow also revealed that the federal government has given greenlight for the Kerian Integrated Green Industrial Park to supply surplus water from the park to Penang, with final details being discussed.
