SpaceTech-Hub formation and MoU Signing Ceremony
Speech by the Chief Minister of Penang YAB Tuan Chow Kon Yeow for the SpaceTech-Hub formation and MoU Signing Ceremony
21 February 2022, 2.00pm @ Auditorium A
YANG BERHOMAT AHLI-AHLI MAJLIS MESYUARAT KERAJAAN NEGERI PULAU PINANG
YANG BERBAHAGIA TUAN HAJI AZLIKAMIL NAPIAH
KETUA PENGARAH, AGENSI ANGKASA MALAYSIA
YANG BERBAHAGIA ENCIK SIVASURIYAMOORTY SUNDARA RAJA
TIMBALAN KETUA PEGAWAI EKSEKUTIF, MIDA
YANG BERBAHAGIA ENCIK RAYMOND SIVA
KETUA PEGAWAI PEMASARAN, MDEC
YANG BERBAHAGIA DATO’ DR SEAN SEAH
PENGERUSI EKSEKUTIF ANGKASA-X INNOVATION SDN BHD.
YANG BERBAHAGIA ENCIK SK CHONG
PENGARAH URUSAN SWIFT BRIDGE SDN BHD.
YANG BERBAHAGIA DATO’ SERI LEE KAH CHOON
PENGARAH INVEST-IN-PENANG
YANG BERBAHAGIA ENCIK TONY YEOH CHOON HOCK
KETUA PEGAWAI EKSEKUTIF DIGITAL PENANG
WAKIL-WAKIL SYARIKAT E&E
RAKAN - RAKAN MEDIA, TUAN-TUAN DAN PUAN-PUAN
Good afternoon to all of you.
I am very pleased to witness a historical event today, involving our very own Penang-based electrical and electronic companies that are ready to upgrade themselves into the SpaceTech sector. Exactly 50 years ago, Penang made its very first steps on the path of industrialization and it all began in what we now call the Bayan Lepas Free Trade Zone.
And today, we have once again increased the stakes and raised the benchmark of what we believe we can do, as long as we set our sight far enough and our ambitions are high enough.
Ladies & Gentlemen,
The Penang state government takes great pride in this MoU being signed between Angkasa-X and the 9 E&E companies as well as the resultant Malaysia SpaceTech Hub. This is certainly the formation of a partnership that will spur more opportunities for the local industry to be part of an exciting new journey.
This is in line with our Penang2030 vision of providing more quality jobs for us to rise up the value chain while, at the same time, to diversify investments beyond the E&E industry in Penang. I am sure there are many more Penang E&E companies out there which are keen to be part of this formation. The Angkasa-X team will have to work harder to look for them and get them to jump on the SpaceTech bandwagon.
Penang is celebrating its 50th Anniversary of Industrialization Journey this year and we have maintained our position as a strong E&E hub all this while. In December last year, Intel made the announcement that it will invest RM30 billion in Penang for the next 10 years.
This planned investment in Penang is expected to create over 4,000 jobs and is a great boost to our state as a global hub for quality investments while creating high-value job opportunities.
Hence, we are still in a favourable position, despite the challenges caused by the Covid-19 pandemic, and this is due to our robust manufacturing ecosystem, a pool of engineering talents and supported by universities doing relevant research.
Of course, other pull factors which added to our competitiveness are the result of the resources we put in to train our budding talents for the industry through the German Dual Vocational Training Programme at PSDC and to instill interests in the Sciences among our students like the Coding-For-All Programme as well as the MakerLab in 87 schools across the state.
Every year, we achieve a consistent rising trend of Compound Annual Growth Rate (CAGR) of at least 10%. This is a clear indication of our resilience and forward-looking mindset to grow Penang’s competitive business edge by exploring opportunities in other industries.
And today, SpaceTech offers a new opportunity yet to be explored by our Penang companies. You will never know, perhaps one day we could have a niche role in the region or even the world if we are serious about this sector.
I foresee the success of this formation can only come to fruition if we are open to inclusivity and collaboration across the various sectors, including telecommunications, manufacturing and software development.
There will be job opportunities and niche investment interests if we do it right and work with the right like-minded companies. And it all begins right now! I hope, as we progress along this path, the Malaysia SpaceTech-Hub will gather more interests and involvement amongst the industry players who see the vast potential in SpaceTech.
Like Space itself, the economic opportunities in this STEM-intensive field are limitless if we challenge ourselves to connect the dots correctly of our existing favourable conditions in Penang. I have no reason to doubt the potential of Penangites as many have excelled in their chosen fields in Malaysia and overseas.
With that, I congratulate Angkasa-X and the E&E representatives who are here today on the formation of the Malaysia SpaceTech-Hub.
Thank you.