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 possible. The presence of each and every one of you here today is a testament to the growing importance of Penang as a hub for innovation and technological advancements.

The latest figures we have which cover the three quarters of 2023 showed our approved manufacturing FDI inflows amounted to RM35.8 billion, which is a six-fold increase for a year-on-year comparison. Penang has once again exemplified our leading role as the top manufacturing FDI contributor in Malaysia by capturing 42 percent of the nation’s manufacturing FDI for the corresponding period. Among the countries with top manufacturing FDI in Penang were the Netherlands, the US and Singapore and they contributed 95 percent towards our approved manufacturing investments.

Despite a slight drop of 15 percent in our domestic direct investment (DDI) for the same period (Jan-Sept 2023), Penang’s RM3.1 billion DDI and approved manufacturing FDI of RM35.8 billion gave us a total of approved manufacturing investment of RM38.9 billion for the first three quarters of 2023. This effectively made Penang the highest contributor among all states in Malaysia with a 39 percent share in the nation’s approved manufacturing investments. According to the Malaysian Investment Development Authority (MIDA), these investment inflows involved 107 projects and are expected to generate 11,121 new job opportunities in Penang.

The Penang state government is happy to note that these approved manufacturing investments are in our key promoted industries namely Electrical & Electronics, Machinery & Equipment and Fabricated Metal Products industries. All in all, these investments accounted for 98 percent of Penang’s total approved manufacturing investments in the first 9 months of 2023 and are a clear indication of our resilient industrial ecosystem which continues to attract approved manufacturing investment inflow of RM38.9 billion with anticipated recovery in the global technology cycle from January to September 2023.

Ladies & Gentlemen,

Hence, the establishment of the PIKOM CIO Chapter Northern branch is a clear reflection of the vibrant technology ecosystem that is taking root in Penang.

As the Chief Minister, I am immensely proud to witness the growth of initiatives like this, which not only fosters collaboration among industry leaders but also contributes significantly to the economic development of our region.

Penangites have always been known for our resilience, adaptability, and industrious spirit. Today, we see these qualities mirrored in the thriving technology sector that continues to evolve within our borders.

The launch of the PIKOM CIO Chapter Northern branch aligns seamlessly with our vision for Penang as a leading player in the global digital landscape. As we embark on this journey together, we are laying the foundation for a technology-driven future that will undoubtedly benefit not only the businesses involved but also the people of Penang.

Ladies & Gentlemen,

In our pursuit of excellence, we must recognize the importance of collaboration between the public and private sectors. The government is committed to providing the necessary support and infrastructure to facilitate the growth of the technology industry.

 

We are working towards creating an environment that encourages investment, promotes research and development, and ensures that our workforce is equipped with the skills required for the jobs of the future.

The launch of the PIKOM CIO Chapter Northern branch aligns with our broader vision for Penang 2030 – a vision that embraces digitalization, innovation, and sustainability. By coming together through initiatives like this, we are not only enriching our technological landscape but also indirectly contributing to the overall economic prosperity of Penang.

As we embark on this exciting journey with the PIKOM CIO Chapter Northern branch, let us reaffirm our commitment to collaboration, innovation, and the shared goal of building a brighter future for Penang. Together, we will propel our state to greater heights of success and become a beacon for technological innovation in the region.

Thank you, and may this new chapter be marked by unprecedented achievements and mutual success.