TODAY’s SME Tech Summit 2023, organised by the Penang Skills Development Centre (PSDC) management council, focuses on establishing a vital connection between multinational companies (MNCs) and small and medium-sized enterprises (SMEs) in Penang.
Deputy Chief Minister II Jagdeep Singh Deo said this was a great opportunity to gain insights from industry leaders who are at the forefront of fostering symbiotic relationships between multinational corporations and SMEs.
Over 200 participants, with 60% of them representing SMEs, thronged the auditorium at PSDC in Bayan Lepas today.
There were also stakeholders from the local large corporations (LLCs).
Jagdeep, in his speech, said that there are approximately 4,000 SMEs in Penang and that they all play a crucial role in contributing to Penang’s economy.
“As of 2022, SMEs contributed a total of 38.2% to Malaysia’s gross domestic product (GDP) and employ 7.3 million people.
“About 99% of businesses in Penang fall under the SME category with a total economic added value of RM30 billion. At the same tine, SMEs also provide jobs to over 400,000 workers in the state.
“That is why this programme today is very important as it will allow all of us, especially those top industry players, to brainstorm and execute plans to move SMEs in the state to greater success.
“The industries in Penang mustn’t overlap in their business, but instead look at possibilities to complement and prosper collectively.
“The state government, together with various industry players, are working together to encourage our local SMEs to digitalise, internationalise, and move up the value chain.
“Penang needs vibrant foreign anchors supported by a supply chain network of local competent players to stay internationally relevant.
“I am confident that Penang will remain a thriving growth hub for many years to come and this is in line with the Penang2030 aspirations aimed at making Penang a model for the nation and the world,” Jagdeep said in his speech.
The summit is expected to end at 4.30pm today.
PSDC management council chairman Solomon Lorthu commended Jagdeep’s continued and keen interest in exploring and regularly making efforts to meet with industry players to better understand the semiconductor industry in Penang.
“YB Jagdeep has availed himself in two past meetings with us in exploring and probing how he could be of help to scale up values in the industry.
“I am truly amazed by his energy, enthusiasm and willingness to know our business better, and we look forward to greater collaboration in the future,” he said.
Solomon is also the vice-president and managing director at Motorola Solutions Penang.
Also present during the event was the Malaysia Semiconductor Industry Association (MSIA) president Datuk Seri Wong Siew Hai.
Story and pix by Kevin Vimal