PENANG has emerged as a trusted and strategic partner for the United States, thanks to its consistent resilience, innovation, and advancements in high-tech manufacturing, said Chief Minister Chow Kon Yeow.
Speaking during a fireside chat at St Giles The Wembley Hotel in George Town today, Chow highlighted Penang’s pivotal role in the global supply chain, underpinned by its robust electronics and semiconductor manufacturing ecosystem.
“Penang’s well-established ecosystem aligns seamlessly with US demand for advanced technology components.
“We are also focusing on higher value-added activities such as integrated circuit (IC) design, advanced packaging, and equipment manufacturing, which resonate with the National Semiconductor Strategy (NSS),” Chow said.
He emphasised that Penang’s efforts to move up the value chain will further enhance its appeal to US companies seeking partners with advanced technological capabilities and intellectual capital.
“In 2023, the United States emerged as Penang’s second-largest export destination, with exports valued at RM76 billion, representing 17% of the state’s total exports,” Chow added.
The fireside chat session was part of the Global Navigator Series Penang, a half-day conference aimed at equipping Malaysian exporters with the knowledge and strategies necessary to succeed in the competitive US market.
Organised by Star Media Group Bhd in partnership with Standard Chartered Malaysia, and supported by PKT Logistics Group and Malaysia External Trade Development Corporation, the event carried the theme, ‘Expanding Horizons: Strategies for US Export Growth.’
During the fireside chat session, moderated by Standard Chartered Malaysia chief executive officer Mak Joon Nien, Chow elaborated on Penang’s unique advantages for exporters, particularly its leadership in high-tech manufacturing, research and development (R&D), and its ability to deliver high-value products tailored to the US market.
He also outlined the state government’s long-term vision and strategic initiatives, which include enhancing infrastructure, upskilling the local workforce, and expanding industrial zones to strengthen Penang’s export ecosystem.
“These initiatives ensure that Penang remains a leader in high-tech exports while continuing to attract investment from global players,” Chow said.
Story by Riadz Akmal
Pix by Muhamad Amir Irsyad Omar
Video by Law Suun Ting