THE PENANG SIGNATURE GOLD & JEWELLERY FAIR (PSG) 2022 OPENING CEREMONY
SPEECH BY THE CHIEF MINISTER OF PENANG YAB TUAN CHOW KON YEOW FOR THE PENANG SIGNATURE GOLD & JEWELLERY FAIR (PSG) 2022 OPENING CEREMONY
19 August 2022
SETIA SPICE CONVENTION CENTRE
Datuk. Johnson Lim
CEO of Elite Expo Sdn Bhd
Mr. George Lo Siew Cheong,
Chairman of Penang Goldsmith & Jewellers Association
Representative from Malaysia External Trade Development Corporation (Matrade), Malaysia Convention & Exhibition Bureau (MyCEB) and Penang Convention & Exhibition Bureau (PCEB),
President and Members of various gold and jewellery associations from Malaysia and overseas
Member of press and distinguished guests.
A very good afternoon to everyone and welcome to Penang for the opening ceremony of Penang Signature Gold & Jewellery Fair (PSG) 2022.
The Penang Signature Gold & Jewellery Fair (PSG) is “The Only Gold Exhibition” in Southeast Asia which is jointly organized with the Penang Goldsmith and Jewellers Association (PGJA). And for this year, PSG 2022 is making its 6th extravagant return as a strategic gold trading platform that gathers the Top Malaysia Gold Manufacturers and wholesalers.
It is certainly a business and networking opportunity to showcase our spectacular gold jewellery collections as well as Malaysia’s excellent gold craftsmanship.
The history of Gold Jewellery in Penang has existed since the 18th century, meaning, for more than 100 years the gold jewellery industry has been founded and growing in Penang. I am happy to note that about 80% of Malaysian gold jewellery exports come from Penang-based manufacturers and exporters.
PSG 2022 is playing a very significant role in bringing interstate traders to recover and boost up the domestic economy as well as the local tourism industry at the same time.
Ladies & gentlemen,
According to the Malaysia External Trade Development Corporation (MATRADE), our country exported RM2.29 billion worth of gold jewellery products from January to May 2022, which was slightly more than the RM2.24 billion registered for the same corresponding period a year ago.
This means that the industry is still growing despite the global economic challenges brought by the Covid-19 pandemic. Stakeholders in the industry should capitalize on the vast opportunities, potential and, most importantly, the demand for gold jewellery despite the most challenging of circumstances, to thrive in this field.
The Penang jewellery industry is well-known for its excellent craftmanship, exquisite gold jewellery collections and competitive labour cost. Thus, Penang apart from being a manufacturing hub and tourist haven, also occupies a niche position as a very suitable location to enlighten everyone within or outside the gold jewellery industry on its rich history. In other words, Penang is well-positioned to re-ignite the interest and its next stage of development in Malaysia.
Having said this, the importance of PSG 2022 must not be overlooked in bringing local and international traders together on the path of recovery after a two-year hiatus of economic activities. This 3-day event will definitely provide a strong push that could elevate it to the exclusive international arena especially for our local gold products suppliers. Hence, to the organizer of PSG 2022, your efforts will definitely help the industry to grow, to recover and also to bring greater positive economic impact to our beloved Penang.
Once again, I would like to commend the efforts by Elite Expo Sdn Bhd, and Penang Goldsmiths & Jewellers Association for having organised the Penang Signature Gold & Jewellery Fair (PSG) 2022, the first ever International Gold-Focus Trade Show within the Southeast Asia region.
In Penang, you will find her as a place of leisure, business platform and a trading hub; a land that is full of opportunity as well as potential, and of course, a distinguished international city which we aspire to be.
Thank you, ladies & gentlemen, for being part of this event. It is my hope that PSG will grow further and provide us with joy and positive vibes every year.