THE Penang government is looking ahead to stronger collaboration and engagement with investors from the United States to further drive the state forward.
Chief Minister Chow Kon Yeow, who attended the 243rd US Independence Day gala dinner at Hotel Equatorial tonight, acknowledged the warm friendship and significant bilateral relationship Penang has built over many years with the United States.
“With an investment history of more than 60 years and counting, US investors are among the largest FDI contributors with an accumulated value of approximately RM14.8 billion for the years 2008-2018,” Chow said in his speech.
“In the latest data released by MIDA (Malaysian Investment Development Authority), I am happy to share that US investment itself accounted for almost RM6.2 billion in Quarter 1 of 2019 – which is 73% share of the total FDI recorded for the state.
“These investments have contributed to job creation and provided opportunities for our supply chain ecosystem to thrive through knowledge and technology transfer.
“With our 50 years of industrial experience and your unremitting support, I am sure Penang will continue to rise to the challenge of being ‘Asia’s Silicon Valley’.”
Also present at the dinner were US Ambassador to Malaysia Kamala Shirin Lakhdhir, Deputy Chief Minister II Prof Dr P. Ramasamy, organising chairman Lim Yong Yin, co-chairman Datuk P’ng Soo Hong and adviser Datuk Seri S.H. Wong and Hotel Equatorial executive assistant manager Rina Mariani.
Chow also thanked the many US companies and individuals for their participation and commitment to the state’s various STEM initiatives.
He also said the state was working towards advancing the readiness of the local manufacturing industries for the digital age and the green economy. This is reflected in the Penang2030 vision for the state to become a ‘Family-focused Green and Smart State that Inspires the Nation.’
Lakhdhir thanked Chow and his team for their critical help in ensuring the positive business climate for US firms to grow their global supply operations in Penang.
“US firms are the largest employers in Penang. They provide critical training, talent development and consistently contributed in so many ways to the community,” Lakhdhir said in her speech.
She also commended the American Malaysia Chamber of Commerce (AMCHAM) for its contribution, adding that AMCHAM was respected and consulted in Penang and Kuala Lumpur, and across Malaysia and Washington DC.
She also praised US companies operating in Malaysia as an outstanding example of the private sector creating creative and innovative products for global markets.
“This year we are celebrating another anniversary – American innovation, imagination and tireless perseverance successfully landed Neil Armstrong and Buzz Aldrin on the moon on July 20, 1969,” Lakhdhir said in her speech.
“Tonight, we celebrate the power of ‘We the People in achieving our common shared dreams of liberty and democratic rule as well as the extraordinary scientific achievement.’
“Amazingly, three companies here tonight were critical to the 1969 moon landing – Motorola, HP and Honeywell.”
Since Armstrong’s famous words, “One small step for man, one giant leap for mankind,” were uttered from the moon, so much technological advances were made.
This prompted Lakhdhir to say, “Hello Mars!” to the laughter and warm applause from the crowd.
Lakhdhir later went on to raise a toast to the Yang di-Pertuan Agong, Al-Sultan Abdullah Ri’ayatuddin Al-Mustafa Billah Shah and the people of Malaysia while Chow reciprocated with a toast to the President of the United States Donald Trump.
Lim, who is the organising chairman, said apart from organising the gala dinner to signify the strong relationships between the United States and Malaysia, the event attracted 51 sponsors (compared to 43 last year) which helped contribute to five charitable organisations.
The recipients were Penang Cheshire Home, Sunshine Cottage Welfare Society, Happy Retirement Home, Lion Reach and AMCHAM CSR Fund.
Story by K.H. Ong
Pix and video by Adleena Rahayu Ahmad Radzi