Speech by Hon. Lim Guan Eng, Chief Minister of Penang, at World Cities Summit’s Ministerial Dialogue on “Leading the change: building liveable and vibrant cities” in Singapore on 30th June 2010.
Penang’s focus is on Penang’s human resources to propel Penang forward as an international city, high-income & knowledge economy with a GDP of USD20 billion and per capita income of USD15,000 by 2020. Penang GDP has grown from approximately RM1.3 billion in 1970 to RM33billion to date and this increase is largely due to the expanding manufacturing sector that now accounts for 39% of Penang’s economy, with the services sector 57%. Penang contributes nearly one third of Malaysia’s exports value and more than 50% of electronic exports. From March 2008, Penang has attracted investments of nearly USD 3bilion and is the Silicion Valley of Malaysia with quality companies such as Intel, Dell, Agilent, Motorola, Sony, Honeywell Aerospace Avionics Malaysia, Philips, Osram, National Instruments, B Braun and St. Jude Hospital.
Continue reading “7 Elements Of Change Towards Retaining Penang’s Premier Position As The Most Livable And Vibrant City In Malaysia.”