CMA CGM AND INFINITY FLAG-OFF OF THE NEW PENANG – PADANG BESAR BLOCK TRAIN SERVICE AND OPEN CONTAINER DEPOT
SPEECH BY YAB TUAN CHOW KON YEOW
THE CHIEF MINISTER OF PENANG
CMA CGM AND INFINITY FLAG-OFF OF THE NEW PENANG – PADANG BESAR BLOCK TRAIN SERVICE AND OPEN CONTAINER DEPOT
26 AUGUST 2022
YB. Lim Guan Eng
Member of Parliament for Bagan
YBhg. Dato' Sasedharan Vasudevan
CEO of Penang Port Sdn. Bhd.
Mr. Ravindra Sahu
General Manager of CMA CGM, Malaysia
YBhg. Dato’ Seri Chan Kong Yew
Managing Director of Infinity Logistics and Transport Ventures Limited
Mr. Jean Vanmalle
General Director of CMA CGM Inland Services
Distinguished guests
Members of the media
Ladies and gentlemen
A very good morning to all.
I am honoured to be invited to join all of you in today’s CMA CGM and Infinity Flag-off of the New Penang – Padang Besar Block Train Service and Open Container Depot this morning.
As we know, the logistics industry is an essential component of the global supply chain and a country's economic growth. As such, the Penang State Government warmly welcomes this partnership that is also aligned with the 12th Malaysian Plan, which seeks to make the country a transport and logistics hub in Southeast Asia by 2025.
Congratulations to both CMA CGM and Infinity on this great partnership, it will certainly further reinforce Penang as a dynamic import and export gateway of Malaysia’s northern region – the Silicon Valley of the East.
In line with the Penang2030 plan, I also believe that this partnership will help strengthen Penang Port as a prominent logistics hub, subsequently becoming a preferred destination of investments in ASEAN.
Ladies and gentlemen,
Penang has undergone 50 years of industrialisation journey and is positioned as an advanced manufacturing hub, buoyed by its significant contribution to the industry.
Last year, the State recorded its all-time high of RM76.2 billion in total approved manufacturing investments, a 440% year-on-year increase, far outpacing Penang’s past performances.
In terms of trade performance and despite the pandemic's various obstacles, Penang’s exports climbed 14% year-on-year in 2021, reaching its all-time high of RM354 billion and making it the nation's highest contributor in exports.
Indeed, the importance of the logistics industry was highlighted during the pandemic, and activity in this area will undoubtedly increase even more.
As we approach the endemic phase, the Penang State Government is confident that, through its Industry Engagement Initiative of Accelerating Penang2030, Penang will further enhance its proven track record as the premier choice for both local and international organisations for investment and business expansion. As a result, having a strong logistics network and service to support this continuous growth is imperative.
In addition to Penang Port, Penang is also blessed with two internationally renowned bridges, the soon-to-be expanded Penang International Airport and the upcoming Penang Sentral Integrated Transport Hub. A diverse mode of transportation in logistics and a better connectivity will indeed spur growth in the movements of goods. Subsequently, enabling and strengthening Penang’s economic growth.
Therefore, today's private-sector partnership that will facilitate the connection between suppliers and manufacturers, as well as customers and enterprises, is definitely the way to move forward. It is hoped that more of such collaborations will take place here in Penang to keep our flourishing economy growing, while making businesses commercially nimble to evolve with the ever changing and challenging environment.
Having said that, let me once again congratulate CMA CGM and Infinity on your partnership, and I wish you both every success.
Thank you.