THE PIKOM CIO CHAPTER (NORTHERN) LAUNCH DINNER
SPEECH BY THE CHIEF MINISTER OF PENANG YAB TUAN CHOW KON YEOW FOR THE PIKOM CIO CHAPTER (NORTHERN) LAUNCH DINNER
5 January 2023
E&O Hotel
Yang Berhormat Jagdeep Singh Deo
Timbalan Ketua Menteri II
Yang Berhormat Tuan Zairil Khir Johari
State Executive Councillor for Infrastructure, Transport and Digital
Mr Ong Chin Seong
PIKOM Chairman
Mr Ngoh Chee Hung
PIKOM CIO Chapter Chair
Dato’ SN Lee
Head of Northern PIKOM CIO Chapter
Ladies and Gentlemen
Good evening, Salam Sejahtera and Salam Malaysia MADANI.
First and foremost, let me extend a warm welcome to all the distinguished guests, industry leaders, members of PIKOM, and everyone who has played a role in making this event a reality. Your presence here today speaks volumes about the ever-growing significance of Penang as a thriving hub for innovation and technological advancements.
Penang, with its towering presence hosting over 300 MNCs and 3000 SMEs, continues to stand tall as the economic powerhouse of our nation. The remarkable strides we have taken in attracting foreign direct investment are evident in the latest statistics from the first three quarters of 2023, showcasing a total approved investment of RM44.9 billion across various sectors. Notably, Penang commands a staggering 42 percent share of the nation's manufacturing FDI, solidifying its position as the top contributor in Malaysia.
To fortify our identity as the 'Silicon Valley of the East,' the State Government will continue bolstering our ecosystem, particularly in the realms of electrical and electronic (E&E) manufacturing, Integrated Circuit (IC) Design, medical technology, Digital District, and the new economy. Emphasis will be laid on fostering innovation and technological advancements to propel Penang at the forefront of the global technological landscape.
The World Congress on Innovation and Technology (WCIT 2022 MALAYSIA), hosted by Penang in September 2022, was a testament to our commitment. With over 4,000 participants from 60 countries, WCIT 2022 became a global platform stimulating discussions, driving collaborations, and spearheading transformations through technological adoption, digital innovation, and foreign investment. More than RM46 billion in digital investments were announced, advancing the state and nation further into the global digital innovation arena.
The burgeoning technology sector, contributing RM289 billion or 19.1% to the country's GDP in 2019, is poised for further growth, with projections indicating 22.6% by 2025. According to a report by GlobalData Market Opportunity Forecasts, spending on ICT in Malaysia is set to reach US$25.2 billion by 2023. Accordingly, the State Government is dedicated to providing the necessary support and infrastructure for the technology industry's growth.
Noteworthy initiative includes efforts to expedite the development of new industrial parks such as Bandar Cassia Technology Park, Batu Kawan Industrial Park 2, and East Batu Kawan by the Penang Development Corporation (PDC). These efforts aim to ensure ample industrial land to meet investor demands, with Bandar Cassia Technology Park offering 250 acres of new industrial land. Complementing these endeavours is the establishment of the Penang Technology Park @ Bertam, spanning over 800 acres with a gross development value of RM4.2 billion.
Furthermore, the State Government remains steadfast in its commitment to enhancing the state’s ecosystem through initiatives like the Penang Transport Master Plan (PTMP), focusing on the Light Traffic Transit project (LRT) in Bayan Lepas. We aim to improve traffic flow through public transport mobility initiatives and continues to strive for federal allocations for the construction of an Elevated Expressway or Juru - Sungai Dua Expressway.
Besides that, in recognizing the critical role startups play in our technological landscape, the State Government has also awarded a total of RM5.0 million 'Seed Fund' to 49 local startups to date. This funding, coupled with mentorship programmes and networking opportunities, aims to catalyse innovation and propel these startups toward success in the industry.
Nonetheless, it is crucial to acknowledge that despite our various efforts, the pursuit of excellence is an endeavour that demands collective engagement, necessitating a harmonious collaboration between the public and private sectors. The inauguration of the PIKOM CIO Chapter (Northern) is therefore timely and aligns seamlessly with the thriving technological ecosystem evolving in Penang.
With the launch of the PIKOM CIO Chapter (Northern) today, I hope to witness more forward-thinking initiatives and collaborations that will propel Penang towards embracing digitalization, innovation, and sustainability, in line with the Penang2030 vision of 'A Family-Focused Green and Smart State that Inspires the Nation.'
In conclusion, as we embark on today’s journey, let us reaffirm our commitment to collaboration, innovation, and the shared goal of building a brighter future for Penang. Together, I am confident that we will propel our state to greater heights.
Thank you, and may this new chapter be marked by unprecedented achievements and mutual success.