SPEECH BY YAB TUAN CHOW KON YEOW

THE CHIEF MINISTER OF PENANG

FOR THE LAUNCHING CEREMONY OF

BANDAR CASSIA TECHNOLOGY PARK (BCTP)

20^TH MAY 2023 (SATURDAY)

YB. Prof. Dr. Ramasamy a/l Palanisamy

Deputy Chief Minister (II) of Penang

YB. Dato’ Mohd Sayuthi bin Bakar

Penang State Secretary

YB. Puan Zabidah binti Safar

Penang State Finance Officer

YB. Dato’ Haji Abdul Halim Bin Haji Hussain

Penang State EXCO for Trade and Industry and Entrepreneurial Development

YB. Tuan Goh Choon Aik

State Assemblyman for Bukit Tambun

YBhg. Dato’ Azhar bin Haji Arshad

Mayor of Seberang Perai City Council (MBSP)

YBhg. Dato’ Seri Lee Kah Choon

Special Investment Advisor to the Chief Minister of Penang

YBhg. Dato’ Aziz bin Bakar

Chief Executive Officer of Penang Development Corporation (PDC)

YBhg. Dato’ Loo Lee Lian

Chief Executive Officer of InvestPenang

Deputy Chief Executive Officers of PDC,

Head of Departments and Members of the State Government Agencies,

Distinguished Guests,

Members of the Media,

Ladies and Gentlemen,

A very good morning to everyone.

It is with great pleasure that I extend a heartfelt welcome and deep gratitude to each and every one of you for gracing us with your presence on this joyous and momentous occasion. I would also like to convey my sincere appreciation to the Penang Development Corporation (PDC) for their tireless efforts and hard work in transforming the vision of the Bandar Cassia Technology Park (BCTP) Launching Ceremony into a remarkable reality that we stand witness to this morning.

Ladies and gentlemen,

The Bandar Cassia Technology Park (BCTP) spans over a net area of 246 acres and is located in Bandar Cassia, which is the third township developed by PDC. It serves as an extension to the existing Batu Kawan Industrial Park (BKIP) which is home to more than 170 companies, including renowned names like Lam Research, Boston Scientific, VAT Manufacturing, Dexcom, Vitrox, Pentamaster, Greatech, UWC, and many others.

Strategically positioned at the heart of Bandar Cassia, BCTP has been carefully planned and designed to accommodate high-tech and environmentally friendly companies in sectors such as electronics and electrical (E&E), medical devices, automotive, semiconductors, equipment, and automation solutions.

What sets BCTP apart from PDC's previous industrial parks is its uniqueness in being leased to investors for a maximum period of 60 years. The development of BCTP will unfold in five (5) phases, with phase one (1) encompassing a substantial area of sixty (60) acres, scheduled for completion by August 2023. The overall completion of BCTP is projected to be completed by August 2025.

At present, OSRAM Opto Semiconductors (Malaysia) Sdn. Bhd. takes pride in being the anchor tenant for BCTP, and we eagerly anticipate the imminent announcement of investments from several other promising companies. I take this opportunity to encourage companies that align with our requirements to consult with PDC and Invest Penang should they be in search of industrial land for expansion or relocation.

Moreover, I am thrilled to share with you that PDC will soon be launching another industrial park known as Batu Kawan Industrial Park 3. Spanning an area of 420 acres, this forthcoming endeavour will follow the same visionary concept as BCTP, to meet the growing demands from investors.

Ladies and gentlemen,

Penang's standing as Malaysia's economic powerhouse rests firmly on the foundation of its twin engines of growth, namely the manufacturing and services industry. Penang boasts a home for over 350 multinational corporations and is fortified by a vast network of over 4,000 highly competent, manufacturing-related Small and Medium Enterprises (SMEs).

It is crucial to recognize that Penang's vibrant industry is not a result of overnight efforts but rather the culmination of strategic planning and execution by both the government and private sectors. The synergy fostered by the public-private-people partnership has paved the way for sustained growth and productivity, unlocking the limitless potential that defines Penang.

On this momentous occasion, I extend my deepest gratitude to all the stakeholders in Penang, whose invaluable contributions have led to these successes.

As we forge ahead, rest assured that the State Government is fully committed to making significant strides in further enhancing our ecosystem. This entails investing in robust physical and digital infrastructure, fostering talent, and elevating our standards of liveability, all of which are critical to maintaining our status as the Economic Powerhouse of Malaysia and the Silicon Valley of the East.

I would like to stress that the Penang State Government pledges to be the leader, the enabler and the propeller by offering a competent platform for players across different industries to participate and thrive. At the same time, we will continue to listen and work closely with all the stakeholders to march forward, making Penang a location of choice to work-live-play and invest.

I am confident that if we continue to band together, we will be able to propel Penang to even greater heights, in line with the Penang2030 vision of ‘A Family-Focused Green and Smart State that Inspires the Nation’.

With that said, I hereby with great pleasure, inaugurate the “LAUNCHING OF THE BANDAR CASSIA TECHNOLOGY PARK”.

 

Thank you.