TAIWAN PRINTED CIRCUIT ASSOCIATION (TPCA) NETWORKING DINNER
SPEECH BY YAB TUAN CHOW KON YEOW
CHIEF MINISTER OF PENANG
TAIWAN PRINTED CIRCUIT ASSOCIATION (TPCA) NETWORKING DINNER
7 MARCH 2023
Mr. Maurice Lee, Chairman of Taiwan Printed Circuit Association (TPCA)
Encik Muhd Ghaddaffi Sardar, Director of Malaysian Investment Development Authority (MIDA) Penang
Mr. James Chang, Director, Taipei Economic & Cultural Office in Malaysia
YBhg Dato’ Seri Lee Kah Choon, Special Investment Advisor to the Chief Minister of Penang and Director of Invest Penang
YBhg Dato’ Loo Lee Lian, Chief Executive Officer of Invest Penang
TPCA member delegates
Invited guests
Good evening.
I would like to express my appreciation to Taiwan Printed Circuit Association (TPCA), for the invitation to this networking dinner. It is a great honour to be with all of you, captains and members of the industry, who have come together this evening to strengthen the shared vision of developing a progressive and dynamic printed circuit board (PCB) industry. Networking session like this evening is indeed a pertinent opportunity to exchange ideas and connect.
Ladies and gentlemen,
Despite being the second smallest state in Malaysia, Penang is one of the country’s key contributors for investment inflows and external trade. Having built a solid reputation after 50 years of industrial excellence, Penang has successfully transformed from a cluster of low value-added manufacturing operations, to a thriving, high-technology industrial hub. The State’s commendable performance has demonstrated our conducive environment, making us a preferred investment destination for investors.
Dubbed as the Silicon Valley of the East, Penang is widely regarded as one of the major players in the global semiconductor industry, accounted for over 5% of global semiconductor sales. While Penang has been establishing significant presence in the semiconductor value chain, it is also apt for me to share that our strength lies in the semiconductor assembly and test, as well as the equipment manufacturing segments. Having said that, there exists certain gaps for Penang to fill in order to enhance the robustness of our industrial ecosystem.
With the escalating pace of technological changes, both upstream and downstream participants in the semiconductor supply chain have constantly evolved to offer a portfolio of capabilities and services to meet the ever-changing demand. To that end, the state is cognisant of the need to extend the depth and breadth in the semiconductor industry, leveraging on our five decades of industrial excellence.
Semiconductor materials, in particular, is one of the key promoted sectors in Penang. We are pleased to have witnessed strong momentum in the the state’s PCB segment, welcoming the presence of both new and existing investors. For instance, Elna PCB, a member of Passive System Alliance (PSA) Group, has recently announced an investment value of approximately RM1 billion for the expansion of its new plant in Penang.
It is heartening to see these companies’ deep connections into the domestic economy. The increasing participation from PCB players are instrumental in stimulating the competitiveness of PCB cluster in Penang, which will then enable economies of scale and attract more PCB and its related supply chain players to Penang. As we are on a promising trajectory in materialising such, I am hopeful for Penang to be a key location for PCB manufacturing in the near future.
The State, via InvestPenang, strives to bolster our efforts in building a resilient, advanced industrial ecosystem that will drive sustainable economic growth and prosperity for the people of Penang and Malaysia.
Thank you.