SPEECH BY THE CHIEF MINISTER OF PENANG YAB TUAN CHOW KON YEOW FOR THE SAMENTA 35TH ANNIVERSARY AND SME CEO FORUM 2022

18 March 2022

Setia SPICE Convention Centre, Penang

 

YB Dato’ Haji Abdul Halim bin Haji Hussain

State Exco for Trade, Industry and Entrepreneur Development

Mr Kam Lian Hooi

President of SAMENTA

Datuk William Ng

Managing Director of Business Media International

Mr Calvin Kwan

Organising Chairman of SAMENTA 35^th Anniversary

 

Distinguished guests

 

Media friends

 

Ladies & gentlemen

A very good morning to all of you.

Thank you for inviting me to deliver the Keynote Address at this SME CEO Forum that is co-organised by the Small & Medium Enterprises Association Malaysia (SAMENTA) and Business Media International.

The significance of SMEs in the economic landscape of Penang and the nation is well established. I would like to share that the State Government has implemented numerous programmes and policies such as The SME Village, Smart Centre, Seed Capital Fund and the Penang Halal Hub which are targeted to benefit our SMEs. Moreover, new initiatives by Digital Penang, Penang Youth Development Centre and Penang Women’s Development Corporation are also intended to promote entrepreneurship.

Based on the proposal by SAMENTA, the State Government had approved the Bantuan Khas Kewangan or BKK with a total grant of RM1 million to support 1,000 SMEs with RM1,000 each for their digitalisation journey. I am happy to note that this programme was successfully implemented in 2021, in collaboration with Digital Penang.

These initiatives in place have greatly demonstrated the State’s multi-faceted efforts in creating a conducive environment for our SMEs to scale greater heights.

Ladies & Gentlemen,

The Penang2030 vision will continue to be the major socio-economic blueprint for the State whereby one of the pillars is the upgrading of the economy. In 2021, Penang is pleased to have garnered RM76.2 billion of approved manufacturing investment, a record-breaking figure which represented 39% of the national’s total, making Penang the highest contributor among the states.

Notably, Penang’s 2021 record significantly outpaced our very own past performances by exceeding the cumulative investments garnered from 2012 to 2020 which amounted to RM73.1 billion.

The supporting and ancillary industries have formed the backbone of our manufacturing economy and they have grown and transformed in tandem with the MNCs especially those of the E&E sector. This is indeed a Unique Selling Proposition (USP) as we have seen former SMEs such as Vitrox, UWC, Aemulus, and Skybridge successfully propelled themselves to become major players in the business landscape.

I am confident that our industrial clusters, comprising SME producers and players in the manufacturing support services industry will equip us with the competitive advantages as we continue to hold our ground as an attractive and preferred investment destination.

Ladies & Gentlemen,

In January this year, we launched the 50^th Anniversary of Penang’s Industrialization Celebration at PDC and the State is proud to witness Penang’s remarkable transformation and resilience over the past 5 decades. The State has curated a year-long event for this celebration and SAMENTA’s SME CEO Forum today is held in conjunction with this 50^th anniversary celebration. 

Hence, the SME CEO Forum today is indeed timely as SMEs must navigate through challenges from Covid-19 as well as external pressures. Topics such as “Digitalization” is pertinent, and we have incorporated Digital Penang to drive this initiative and build the supporting ecosystem.

In addition, this forum also includes discussion on Environmental, Social and Governance (ESG) as well as the Regional Comprehensive Economic Partnership (RCEP). SMEs have to be fully aware of ESG implications and embrace these tenets as part of their growth strategy. For RCEP, we have to tap into this gargantuan Regional Free Trade Area, especially for our export-oriented companies.

As indicated earlier, Penang has many home-grown champions to showcase. Hence, the State Government will continue to initiate novel and proactive approaches to promote the growth and development of our SMEs.

SAMENTA has taken root in Penang 35 years ago when a group of like-minded entrepreneurs came together to initiate this trade association. I am glad to see SAMENTA growing from strength to strength and l look forward to continuing working with you all to support our SMEs in Penang.

Finally, I wish to congratulate the Organising Committee of SAMENTA and BMI for successfully having this Forum which will help to supercharge our SMEs forward. Congratulations once again to SAMENTA for your 35^th Anniversary celebration.

With that said, I am pleased to announce the commencement of the SME CEO Forum 2022.

Thank you.