LAUNCH OF DELOITTE SOUTHEAST ASIA CONSULTING PENANG OFFICE

SPEECH BY THE CHIEF MINISTER OF PENANG

YAB TUAN CHOW KON YEOW

LAUNCH OF DELOITTE SOUTHEAST ASIA CONSULTING

PENANG OFFICE

 

26 APRIL 2023

LEVEL 12A, HUNZA TOWER

 

 

YB Prof. Dr. P. Ramasamy A/L Palanisamy,

Deputy Chief Minister of Penang II

YB Dato’ Haji Abdul Halim bin Haji Hussain,

Exco for Trade, Industry and Entrepreneur Development

Yang Berbahagia Dato’ Seri Wong Siew Hai,

President, Malaysia Semiconductor Industry Association (MSIA)

Yang Berbahagia Dato’ Lee Teong Li,

Chairman, Federation of Malaysian Manufacturers Penang (FMM Penang)

Dr. David Lacey,

President, The Free Industrial Zone, Penang, Companies' Association (FREPENCA)

Yee Wing Peng,

Chief Executive Officer, Deloitte Malaysia

Distinguished guests;

Members of the media;

Ladies & gentleman;

Good morning, everyone.

I would like to first extend my appreciation to Deloitte for inviting me here today to officiate the launch of the Deloitte Southeast Asia Consulting Office in Penang. Congratulations on this milestone!

Since 1973, Deloitte has had a significant presence in Penang. It is indeed heartening to see how your firm has grown to become one of the largest professional consulting services firms in the state.

Through the years, the firm continues to invest in your capabilities, as seen today with the opening of this Consulting office.

What’s been achieved today benefits not only Deloitte, but also our state, as it is definitely a step in the right direction to move Penang towards greater heights.

With this extension, I believe this will provide opportunities to cultivate highly-skilled talents in the state as well as to offer more learning and growth opportunities within our state’s ecosystem.  This is important as we look towards enhancing the local capabilities and strengthening the Penang workforce, in order for us to remain competitive in the national and global stages.

Consultants are much needed to advise the state to realise and optimise our existing potential, while also looking at other emerging areas of growth. The skills brought in by this team will support the businesses, especially in the E&E industry, as we move up the value chain. 

Ladies and gentlemen,

In line with the Penang2030 vision, the state is undergoing a transformation, focusing on improving liveability, the economy, civic participation and a balanced development to achieve a “Family-focused, Green and Smart State that Inspires the Nation.”

Also through the Penang2030 Vision, we are working towards Penang becoming a model for sustainable development and a beacon of progress and prosperity for Malaysia.

Five years into our Penang2030 program, we have come close to hitting 45 percent of all the targets we have set for the state.

With firms like Deloitte investing into the state, young talents in Penang will have vast opportunities for a rewarding career, within Penang itself. This is in line with one of the pillars in the Penang2030 vision which is increasing liveability to enhance quality of life.

Ladies and gentlemen,

Penang has established itself as the driver of the E&E industry in the nation. Despite being the second smallest state in Malaysia, Penang commands over 5 percent of the global semiconductor sales and made up close to 60 percent of the country’s E&E exports. Driven by Industry 4.0, the electrical and electronics (E&E) and IT ecosystem is projected to create over 500,000 jobs and contribute 23 percent to the country's GDP in the next 5 years.

The average monthly salary in the E&E industry is twice the Malaysian average – at RM6,450, and with only 0.3 percent of the E&E workforce possessing an advanced degree, the potential for upskilling and growth in this area is limitless.

I understand that the Consulting office will contribute to skills development needed by semiconductor and high-tech clients in the industry. These include digital transformation, AI and machine learning, cybersecurity, data science & analytics, among others.

I look forward to seeing these capabilities being further developed in Penang, helping to advance our competitiveness in the global E&E value chain.

It is necessary for various stakeholders to work together to bring the Penang2030 Vision into reality. By fostering a collaborative environment, we can harness the potential of innovation, spur economic growth and establish our region as a world leader in the E&E industry.

Before I end, I understand that Deloitte Penang works closely with tertiary institutions in the state. I hope to see the firm continue with this wonderful initiative, to cultivate our future talents through internships and real-life workplace experience.

Once again, I would like to thank Deloitte for investing in talent building, I am excited to see what the future holds for us.

Thank you.