THE two economic powerhouses of Malaysia, Penang and Selangor, could soon link up to uplift the Integrated Circuit (IC) Design industry in the country while looking to cement their positions among ASEAN members.
Chief Minister Chow Kon Yeow expressed Penang’s openness to collaborating with Selangor following the state’s announcement this year regarding the establishment of the proposed Selangor Integrated Circuit (IC) Design Park.
“We (Penang) already have a robust IC Design ecosystem, and several parties thought we had nothing to show and said that Selangor was ‘stealing’ the thunder from Penang.
“There are some 20 IC Design companies in the country, and 18 are from Penang.
“With this, we should not be complaining about the initiative in Selangor but rather encourage and wish them success and, maybe even explore opportunities to collaborate in this particular field.
“In response to the initiative by Selangor, we came up with the Penang Island Design @5km+ this year to strengthen Penang’s position by leveraging its semiconductor manufacturing and technology strengths.
“Under this initiative, there are four projects, namely the Penang IC Design and Digital Park, Penang Chip Design Academy, Silicon Research and Incubation Space and Penang STEM Talent Blueprint.
“We aim to remain relevant in related industries and continue attracting investors to Penang to boost the country’s overall economic development,” Chow said in his speech during a special dialogue at the 8th Selangor ASEAN Business Conference (SABC) 2024 today at the Kuala Lumpur Convention Centre (KLCC).
Themed Malaysia’s Leading Investment Destinations: “Leveraging Local Strengths for Regional Prosperity”, the dialogue featured Chow and Selangor Menteri Besar Datuk Seri Amirudin Shari sharing about Penang and Selangor’s investment development and opportunities.
Amirudin, during his speech, highlighted Selangor’s strengths in attracting investors and also spoke about the state’s promising human resource growth.
“Annually, we produce 40,000 graduates of various disciplines from the many universities and colleges in the Selangor vicinity.
“We have around 150 higher education institutions in Selangor, and it comprises local and private origins,” he said.
On another matter, Amirudin also stated that Selangor and Penang, collectively, contribute around 40% to the nation’s overall gross domestic product (GDP) annually.
The moderator tasked to manage the hour-long dialogue was Institute for Democracy and Economic Affairs (IDEAS) chief executive officer Tricia Yeoh.
Selangor Investment, Trade and Mobility Committee chairman Ng Sze Han delivered the opening remarks before Chow and Amirudin took the stage with the dialogue session.
Chow also reiterated that Penang’s competitive edge is the semiconductor industry, boasting one of the most comprehensive value chains, from chip design and manufacturing to advanced packaging.
Despite current land scarcity issues, Chow praised Penang Development Corporation (PDC) and InvestPenang for being instrumental in planning several proposed industrial parks that are expected to surface across the state in the next five to 10 years.
“Even then, we will only have sufficient land to cater to our promoted industries,” he said.
He also emphasised that it was important for Malaysia, especially Penang and Selangor, to feel connected among the ASEAN community to make the region an important economic hub and powerhouse for the world to explore business and investment opportunities.
Story by Kevin Vimal
Pix by Muhamad Amir Irsyad Omar