Penang Global Business Services (GBS) Talent Outreach

Speech by Chief Minister of Penang
At Penang Global Business Services (GBS) Talent Outreach

27 October 2018
The Wembley-St. Giles Hotel

 

YB Sim Tze Tzin
Deputy Minister of Agriculture and Agro-based Industry

Dato’ Seri Lee Kah Choon
Special Investment Advisor to the Chief Minister of Penang

Dato’ Loo Lee Lian
CEO of investPenang

Representatives from Malaysia Digital Economy Corporation and TalentCorp, and Senior Management Representatives from GBS Companies in Penang

Heads of Universities, University Colleges and Colleges

Members of the press

Ladies and gentlemen

Good morning.

I am pleased to be present this morning to join all of you at the Penang Global Business Services (GBS) Talent Outreach. I am confident that today will be a Saturday morning well spent. This event is organized by investPenang, the State’s investment promotion arm, themed ‘Global Business Services as a career of choice’ specially held in Penang for Penang companies. I wish to also commend investPenang for the continuity of this initiative from the momentum of a similar event held in Kuala Lumpur last year.

Penang’s Investment Records

In 2017, Penang recorded the largest FDI inflow of MIDA approved manufacturing FDI among states in Malaysia, valued at RM8.5 billion. Penang is also the second top recipient of total manufacturing investment among states valued at RM10.8 billon. Domestic investment also grew steadily by 92% year-on-year to reach RM2.3 billion in 2017. In 2016, Penang also recorded the second largest investments for Global Establishments for Services or ‘Principal Hub’ with an investment value of RM4.1 billion, after Kuala Lumpur.

All these records would have not been possible without support by investors who are participating in today’s event which are Air Asia GBS, Celestica GBS, Citigroup TSM, Cypress Semiconductor, Emerald Global Group, Intel Malaysia, Kerry Logistics, Lexi Solutions, Luxoft Malaysia, Osram GSS, Swarovski GBS, Teleperformance Malaysia, Tessolve Semiconductor, Thunder Software Technology, Toll Global Forwarding, Toray TMS, UST Global and Wilmar GBS.

Enhancing the GBS Talent Flow and Ecosystem

This event today is part of the State’s and investPenang’s continuous efforts to spur the local GBS ecosystem and maintain the State’s position as a leading choice for investments. Some of the marquee names that have announced their GBS investments and re-investments in Penang this year include Jabil Global Business Centre, Swarovski GBS, Celestica GBS, UST Global and Power Integration. All these investments and re-investments form the Penang’s GBS ecosystem of more than 50 companies that have created more than 10,000 high-value jobs. The State is committed to continue to strengthen the GBS ecosystem in Penang especially in areas that are synergistic to Penang’s existing business activities.

In Frost & Sullivan Digital Talent Report prepared for the Malaysian Digital Economy Corporation (MDEC), it is highlighted that among the digital economy area, GBS segment will have the largest average increase in employment in the next 3 years at a CAGR of 21.3%. Hence, I am pleased to note that approximately 250 university/college students, graduates and professionals primarily in Finance & Accounting, IT, Business & Engineering background in Penang and the Northern Region are participating in the talent outreach programme today. This event serves as an important platform for talent to access to GBS companies, and also allows the promotion of GBS industry as a career of choice among the young. To our students - Please ask as many questions as possible, and get connected to the companies present here today – these companies may be your future employers!

I wish to also thank the panel speakers from MDeC and the participating companies for taking your time on a Saturday to enhance the awareness and increase understanding on the Global Business Services industry and its potential. This early exposure for our young talents will be invaluable to provide them with the head-start in choosing the right industry for their career.

Closing Remark

I wish to once again thank investPenang for this initiative to enhance the GBS and talent ecosystem in Penang. To the students and experienced talents who are present, please take advantage of the discussions and engagement with the GBS companies that has been arranged. I wish all of you a pleasant networking and have a pleasant day.

Thank you.