Direct flights from Shenzhen a boost for Penang’s gold and jewellery industry

Admin
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THE direct flights between Shenzhen and Penang, starting July 27, will boost Penang’s tourism and benefit gold and jewellery companies in northern Malaysia, promoting cooperation between the two markets.

 

State Tourism and Creative Economy Committee chairman Wong Hon Wai highlighted Shenzhen’s significance as a key hub in China’s gold and jewellery industry, possessing rich market resources and consumer groups.

 

“The direct flights between Shenzhen and Penang will enhance Penang’s accessibility, open a broader market for its jewellery companies, and increase direct trading opportunities with Chinese buyers,” Wong said during a press conference at Setia SPICE Convention Centre today.

 

Wong announced that the 8th annual Penang Signature Gold, Gem & Jewellery Show (PSG) 2024 will be held at the Penang International Convention and Exhibition Centre from Aug 9 to 11, expecting 5,000 trade visitors from 13 countries.

 

The event, organised by Elite Expo Sdn Bhd and the Penang Goldsmiths and Jewellers Association (PGJA), will feature about 150 exhibitors from China, Singapore, Thailand, Turkey, and Malaysia, showcasing international innovation and craftsmanship in the gold and jewellery industry.

 

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Wong says the majority of Malaysia’s gold and jewellery exports are from Penang.

 

“Penang’s gold jewellery is unique and ingenious, and the diverse jewellery products are a major attraction for both domestic and foreign tourists.

 

“Approximately 80% of Malaysia’s gold and jewellery exports originate from Penang’s jewellery companies, hence, it is often said that Nanyang jewellery looks to Malaysia, and Malaysian jewellery looks to Penang.

 

“The exhibition will highlight the latest and finest gold jewellery in the industry and host various related activities, including the Anti-Money Laundering Act (AMILA) Regulation Seminar, the International Gold and Jewelry Summit, and a Buyer Invitation Program.

 

“Therefore, professionals and enthusiasts who have a strong interest in gold jewellery craftsmanship should not miss this annual event,” Wong added.

 

PGJA chairman Ivan Chee Yook Chiang expressed that through this exhibition, Penang aims to lead in gold reform and strive for the top position in the industry, with the aspiration for Malaysia to rank among the world’s top ten gold jewellery exporters.

 

“I believe PSG 2024 will be the preferred social and business platform for Southeast Asian gold jewellers, fostering business exchanges that promote Penang’s economic development.

 

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Elite Expo chief executive officer Johnson Lim Eng Hoong said this exhibition will also debut groundbreaking 5G gold, showcasing the latest in gold manufacturing technology.

 

“This latest technology produces harder, lighter, brighter, and purer gold, ideal for intricate jewellery designs, marking a revolutionary advancement in Penang’s gold jewellery industry.

 

“Last year’s transaction volume during the Golden Week reached RM80 million, and this year we hope to exceed RM100 million in transaction volume.

 

“We will provide transportation subsidies to buyers attending the exhibition, as well as subsidies for 3 days and 2 nights hotel accommodation for foreign buyers.

 

“The opening of direct flights from Shenzhen is great news for the jewelry industry exhibition, which will promote bilateral gold trade,” said Lim.

 

Also present were PGJA adviser Datuk George Lo Siew Cheong and PGJA honorary secretary Rae Yong Ching Sui.

 

Story by Nur Syakirah Mohd Basri and Nurul Hawa Farahin Hameddy

Pix by Adleena Rahayu Ahmad Radzi