PENANG TECHNOLOGY PARK@BERTAM GROUNDBREAKING CEREMONY
SPEECH BY YAB TUAN CHOW KON YEOW, THE CHIEF MINISTER OF PENANG
FOR PENANG TECHNOLOGY PARK@BERTAM
GROUNDBREAKING CEREMONY
17 MARCH 2023 (FRIDAY)
YB Dato’ Ir. Hj. Ahmad Zakiyuddin Bin Abdul Rahman
Deputy Chief Minister I
YB Professor Dr. P.Ramasamy A/L Palanisamy
Deputy Chief Minister II
YB Phee Boon Poh
Penang State EXCO for Environment and Welfare
YB Dato’ Haji Abdul Halim bin Haji Hussain
Penang State EXCO for Trade and Industry and Entrepreneurial Development
Yang Berbahagia Tan Sri Datuk Alex Ooi
Executive Chairman of Ideal Property Group
Yang Berbahagia Puan Sri Datuk Joanne Phor
Executive Director of Ideal Property Group
Yang Berbahagia Dato’ Seri Lee Kah Choon
Special Investment Advisor to the Chief Minister of Penang
Members of the Penang State Legislative Assembly
His Excellency Mr. Zhou Youbin
Consul General of the People’s Republic of China in Penang
Ms. Luo LingLing
Vice Consul of the People’s Republic of China in Penang
Yang Berbahagia Dato’ Azhar bin Haji Arshad
Mayor of Seberang Perai (MBSP)
Yang Berbahagia Dato’ Loo Lee Lian
Chief Executive Officer of InvestPenang
Members from the State Government Agencies
Members of the media
Distinguished guests
Ladies & gentlemen
A very good morning to all.
It gives me great pleasure to join all of you here today for the Groundbreaking Ceremony of the Penang Technology Park@Bertam. Before I begin, I would like to extend my heartfelt congratulations to the Ideal Property Group on this successful launch of their latest project.
Distinguished guests,
Penang’s transformation, from a traditional seaport economy into the Silicon Valley of the East began in 1972 with the establishment of Malaysia’s first free trade zone in the state, developed by the Penang Development Corporation (PDC). The arrivals of pioneer investors have heralded the development of a robust ecosystem of ancillary industries, cementing Penang’s conducive location for advanced manufacturing and high value-added upstream activities.
This year, as announced in the Budget 2023, the Malaysian Government has outlined its determination to strengthen the economy and position Malaysia as a preferred destination for investment and trade, as well as a gateway to the Asian region.
Penang, being the key pillar for Malaysia’s economy, is well-positioned to reap benefits from the government's upcoming initiatives for industrial development, international trade, and investment agenda. Banking on Penang’s strategic location, 50 years of industrial excellence, availability of skilled workforce, and business-friendly environment, Penang is now a more popular destination for investors who are seeking for growth opportunities in the region.
Ladies & gentlemen,
Driven by its position as the country’s economic powerhouse, Penang topped the nation's list in 2021 with export value of RM354 billion recorded. The external trade momentum in Penang has persisted into 2022 with a 27% year-on-year spike on the export value, reaching an all-time high of RM452 billion in the said year, representing 29% of the country’s total.
On the investment front, Penang is also among the top contributors for the country, having clocked in RM14 billion in its approved manufacturing investments in 2022, representing 16% of the country’s total.
While Penang continues to punch above our weights, the Penang State Government will not rest on its laurels and continue to strive for excellence. In particular, as part of our efforts to cement Penang’s position as a hub for advanced manufacturing, the State Government has placed a special emphasis on attracting companies with strong commitments in developing cutting-edge technologies and sustainable investing.
Proudly, with the seamless collaboration between the federal and state agencies, we have witnessed the transformation of the industrial parks in Penang, moving from labour intensive and low value-added projects to knowledge intensive, high value-added projects.
Through InvestPenang, the state conducts stringent due diligence on all projects under PDC industrial parks. Efforts are in place to ensure that the garnered projects generate a series of multiplier effects in terms of ecosystem relevance, high value-added, global value chain exposures, and supply chain localisation opportunities, among others.
On this note, I am hopeful that the Penang Technology Park@Bertam will uphold Penang’s competitive edges that align with the state’s focus, optimising the state’s resources to harness its full potential for strategic investors.
Ladies & gentlemen,
I am also pleased to note that the Penang Technology Park@Bertam is designed with sustainability in mind, incorporating features such as green spaces, energy-efficient facilities, and recycle and waste management systems. This shows that Ideal Property Group not only focuses on economic success but also on environmental and social well-being.
Sustaining a dynamic ecosystem equipped with the capacities and capabilities to support the needs of industrial players’ next generation technologies and growth strategies is the utmost priorities of the Penang State Government. Most importantly, we acknowledge that incorporating tripartite Public-Private and People partnership is crucial in pathing the way to becoming a high-income economy and creating quality jobs.
Accordingly, the state, via InvestPenang and other state agencies, will continue to work concertedly with all parties in enhancing the economic growth in Penang, in line with the Penang2030 vision of ‘A Family-Focused Green and Smart State that Inspires the Nation’.
Having said that, I would like to congratulate Ideal Property Group once again for their remarkable achievement, and I look forward to seeing this project grow and contribute to the continued success of Penang.
Thank you.