Opening Remarks @ PSAP & PIAP(e/c)

Opening Remarks by The Rt. Hon Mr. Lim Guan Eng,Chief Minister of Penang @ PSAP & PIAP
On June 9, 2016 at Jen Hotel


Members of Penang Services Advisory Panel and Penang Industry Advisory Panel,

A very good afternoon to everyone,

On behalf of the state government, I would like to thank everyone for taking your time to attend this meeting. This has been the 8th year since PSAP and PIAP was established, and I am grateful for the continuous support from the members of both panels to support the state government.

For some of you who are new to PSAP & PIAP, the advisory panels were established in 2008 to provide opportunities for the industry and services sectors to update on the current trends and discuss on issues faced by the sectors, and to share on the moving forward plan for the sustainable growth of the two key sectors. Both the manufacturing and services sector are the engines of growth of Penang’s economy, contributing 46.3% and 48.1% respectively to the state GDP.

Last year, Penang recorded the highest Foreign Direct Investment (FDI) compared to the other states, attracting RM4.5 billion in investments and we are proud that Penang has contributed more than 20% of the total FDI in Malaysia with total of 107 new and reinvestment projects.

Penang’s future economic success is to seek convergence between manufacturing and services sectors. The State Government recognised the need to diversify the state’s economy and make it less dependent on the E&E sector, hence expanding the contribution of the services sector, especially the Global Business Services (GBS) industry.

As of today, there are more than 26 GBS companies in Penang with world-class companies such as AMD Global Shared Services, Air Asia Global Shared Services, Citigroup, Dell, IHS – serving their global operations. In addition to this we have also launched the Penang Accelerator for Creative, Analytics & Technology (@CAT) in October 2015 with the focus of promoting creative and technology startup entrepreneurship as a new engine of growth for the State.

CAT is crucial towards Penang not being left behind in the 4th Industrial Revolution of Big Data Analytics or B.D.A, Cloud computing and Internet of Things (IoT). To be left behind by the 4th Industrial Revolution means death for Penang’s future.

Recognizing Penang as the Global Electronics Manufacturing Hub, the iconic SEMICON South East Asia has moved from Singapore by choosing Penang as the host location for the last two years. In conjunction with the international event, investPenang as the supporting partner has organized a series of networking events for the business community to interact. In view of the overwhelming success, SEMI has confirmed to make a comeback next year. Even though the expo just ended 2 months ago, the exhibition booths are now selling like hot cakes again with more than 40% of booth space sold out.

With the Malaysian economy affected by various external factors, and Penang along with it, we have to come up with some forward planning to help cushion the impact. Therefore, we would like to welcome valuable inputs, feedbacks, advices and suggestions from you with regards to technology, business, market trends, opportunities and best practices in the industry to support the state government’s initiatives to propel the economy through 2016.

I hope that this annual meeting will continue to be the platform for the state to harness the breadth and depth of the skills and expertise of the advisory panel members. Hopefully, by the end of the day, we will be able to have a fruitful discussion and gather some thoughts on how we can further enhance the competitiveness of Penang to position Penang as a location of choice for live, work and play.

Once again, welcome on board and let’s move forward for a brighter and fruitful second half of 2016. Thank you.

photo_1: To CM’s right is Dato’ Faudzi Naim Hj Noh – Co Vice Chairman of PSAP. To CM’s left are Dato Lee Kah Choon, Director of InvestPenang and Dato’ Dr Ooi Eng Hock , Member of PIAP







@CAT新创加速器对于槟城的前途非常重要,它将协助槟城免于在大数据分析(Big Data Analytic)、云端电脑(CLoud Computing)及物联网(IoT)的第四波工业革命中被抛在后头。如果我们被第四波工业革命抛在后头,槟城的未来将会死路一条。