The 50th Anniversary Dinner of Renesas Semiconductor (Malaysia) Sdn. Bhd.
SPEECH BY YAB CHOW KON YEOW
CHIEF MINISTER OF PENANG
on the occasion of
The 50th Anniversary Dinner
of Renesas Semiconductor (Malaysia) Sdn. Bhd.
20 August 2022
SPICE Convention Centre
_____________________________________________
SHONO Eizaburo-san, Senior Vice President & General Manager of Production and Technology Unit, Renesas Electronics Corporation
OTA Mitsuru-san, President of Renesas Semiconductor (Malaysia)
Management and staff of Renesas Semiconductor (Malaysia)
Members of the press
Ladies & gentlemen
Konbanwa. Good evening.
It is indeed an honour for me to attend and officiate this special dinner to commemorate the 50th anniversary of Renesas Semiconductor (Malaysia) Sdn Bhd.
Tonight’s occasion is particularly significant as it is in tandem with the State Government’s year-long celebration of the 50th anniversary of Penang’s industrialisation.
As we all know, Penang’s transformational journey from being a seaport economy to become the nation’s top location for foreign direct investments started with the inception of the Bayan Lepas Free Trade Zone in 1972. Renesas (then known as Hitachi Semiconductor) is one of the “8 Samurais”, the eight companies that first invested in Penang’s nascent technology zone five decades ago.
From that first bold step, and the immeasurable faith that these 8 Samurais had in Penang’s potential as an industrial heavyweight, this strategic partnership has since given birth to many local entrepreneurs, a robust industrial ecosystem and a state that punches way above its weight. In this regard, who could have ever imagined Penang achieving its highest ever total approved manufacturing at RM76.2 billion in year 2021? Or that Penang accounted for 39% of Malaysia’s total manufacturing investments? Or Penang’s GDP reaching RM99 billion with the highest year-on-year growth among all states with a 7% hike?
These figures are a strong testament that the state is on the right track towards prosperity and progress. We have much to look forward to in welcoming a more vibrant economic growth and employment opportunities for Penangites and Malaysians.
Though industry players continue to outpace each other in achieving momentous advances in technology, I am happy to note that Renesas has consistently been in the frontline of this progress. Your involvement in Penang’s industrial growth has been accompanied by various beneficial features, contributing to the long-term development of the industry and community.
Besides devoting significantly towards knowledge and technology transfer, Renesas has also left a lasting impact on our society by helping to inculcate and nurture various other positive assets. These include contributions in developing our talents and resources in areas such as quality assurance, training, environmental protection, and also industrial safety.
It is praiseworthy that Renesas has also engaged substantially in activities like staff welfare, recreation, community CSR, and charity for the needy.
I am delighted to learn that innovation is a key theme in Renesas’ observance of its 50th anniversary. In this regard, the state’s commitment to continuously innovate has been the backbone of our ability to not only endure tough times, but to also thrive and prosper. It is our commitment to continually innovate that has enabled us to rise and grow together, whatever the challenges that come across our way.
Together, we have all weathered a series of global financial crises, and most recently experienced a major health tragedy that was the Covid-19 pandemic. Yet, I remain humbled by the resilient spirit and fortitude shown by everyone here who calls Penang, home. I am confident that just as we have risen from past challenges, this too shall pass as another chapter in Penang’s history. I look forward to us repositioning our strengths to emerge stronger and prepare for the years ahead with that same indomitable spirit that started our industrial journey decades ago.
As one of the key players in Penang’s economy, Renesas will always hold a special place in the state’s industrial history and legacy. With your advanced focus on semiconductors and other core electronic products, you have helped to bridge Penang with global technologies and markets. In 1972, we took the bold step by investing and starting a remarkable venture in the Bayan Lepas Free Industrial Zone by laying the building blocks of our modern economy for future generations.
As we look back this evening on what has been an amazing 50-year adventure for both Renesas and Penang, let us also turn our gaze on the many prosperous decades to come, and look forward to achieving more significant milestones for our people and nation. The journey has just started, and here’s to the next 50 years of excellence and beyond!
Thank you.