Speech by Chief Minister of Penang the Rt. Hon Mr. Lim Guan Eng in Singapore at the Penang Investment Opportunities at King’s Copthorne Hotel, Singapore on 14 October 2014 (e/c)

Allow me to begin by extending a very warm welcome to each and everyone here today.

Penang’s manufacturing & services sectors account 48 & 47 percent of Penang’s GDP, respectively. In 2013, Penang’s services sector achieved a growth rate of 5.8 percent, indicating that Penang’s economy is gradually moving towards a balanced equalization between the manufacturing and services sector.

SSO companies in Penang such as IHS, Atmel, Toll Forwarding and Jurong Shipyard are continuously expanding. This sector employs over 7,000 professionals in Penang. These new expansions are quickly taking up all the Grade-A office spaces in Penang.

For this very reason, Penang’s up-coming RM 3.3 billion IT-BPO Hub will be the latest development focus for Penang and Malaysia. The project’s vision is to create new clusters of economic development with opportunities to live, work, learn and play in sustainable and innovative urban spaces.

Together with Penang International Technology Park (PITP), the gross development value for the PDC-TEMASEK joint-venture project is estimated to be approximately RM11.3 billion. And it is a testimony of the Penang’s drive to fulfil the prediction of KPMG to become one of the 31 BPO hubs of the future.

In 2013, Malaysia’s largest export market is Singapore with the total export achieving MYR100 billion for the first time. Singapore’s investments ranked top in Penang indicating a ten-fold leap to MYR 622 million from MYR61 million from 2012. Amongst some of the projects that drove the growth of investments included Singapore Aerospace Manufacturing (SAM) which has recently announced their new reinvestment plan in next three years.


On tourism, The Guardian UK has named Penang as the Top 10 “World’s Must Visit Destinations in 2014”. Penang International Airport has also recorded a 15% increase of passengers from 4.8 million to 5.5 million passengers in 2013. In the first half of this year, Penang airport foreign arrivals recorded an almost 10 percent growth of which Singaporeans constitute the second highest international visitors to Penang. The upcoming Visit Penang Year 2015-2017 will help in promoting tourism in Penang.

Malaysia is ranked fifth in the world for medical tourism destination in terms of reasonable cost with high quality medical services. Penang is the top state contributing about 60% of the Malaysia’s medical tourism receipts. Last year, Penang experienced a revenue growth of 18 per cent and with total medical tourism receipts of over RM370 million. Penang intends to have more private hospitals due to the increasing demand.


Education is important to nurture talents for the industrial and services sectors. In Penang, there are over 40 public and private universities and colleges, in addition to the ten reputable international schools. With the setting up of more learning and training centres, an education hub has been planned in Batu Kawan to further attract world-class educational institutions like the US-based, Asian Women’s Leadership University (AWLU) – a liberal arts institution managed by the renowned Smith College to set up a campus in Penang. Other announced projects are the Hull University, KDU University College and premier international schools such as St. Joseph Institution.

Penang is also successful in attracting talents from overseas. The Penang Career Assistance and Talent (CAT) Centre is assisting an international internship programme, in collaboration with universities in Japan, New Zealand, Germany and Switzerland.


Penang is keen to establish a creative cluster to leverage on conducive conditions especially the 3Ts of talent, technology and tolerance of new ideas. We also have the potential to become an animation cluster for Malaysia in the future.


Penang is the most liveable city in Malaysia. Lonely Planet also listed Penang as the No.1 Food Destination of the world. Culturally, the internationally acclaimed George Town Festival in its fifth year running, is now one of the most vibrant arts festival in Southeast Asia. Penang is also on The Guardian’s list of Top 15 Best Street Art around the world.

On 1st March 2014, Penang’s Second Bridge, the longest bridge in Southeast Asia commenced operation. To improve connectivity and communication, companies are invited to participate in the Requests for Proposal (RFP) for the development and construction of RM27 billion roads and public transport projects in Penang (Penang Transport Master Plan Strategy 2013-2030).


The ASEAN Economic Community (AEC) with over 600 million population and USD2 trillion GDP is set to come into force from 31 December 2015, will bring about greater opportunities.

Before ending, I would like to thank investPenang, Penang Investment and Tourism Office (PITO), MDeC and EDIS for making this seminar possible and once again, I thank all of you here for your presence and I wish you a fruitful seminar. Thank you.

Lim Guan Eng

槟城首席部长于2014年10月14日在新加坡 King’s Copthorne酒店举行的槟城投资商机解说会的演讲。



如今在槟城的共享服务外包公司,例如美商自料分析公司IHS、美商Atmel、澳商拓领环球运输(Toll Global Forwarding)及新加坡裕廊船厂(Jurong Shipyard)正持续扩充他们的业务。共享服务外包领域已经在槟城聘用了超过7000名专才。这些新的扩充领域已经迅速占据了槟城各大A级办公室。