THE Penang jewellery industry, which is well known for its excellent craftsmanship, is growing despite the global economic challenges brought about by the Covid-19 pandemic, says Chief Minister Chow Kon Yeow.
He said the history of gold jewellery in the state has existed since the 18th century, which means its industry has been founded here for more than 100 years.
“I am happy to note that about 80% of the country’s gold jewellery exports come from Penang-based manufacturers and exporters.
“The stakeholders in the industry should capitalise on the vast opportunities, potential, and most importantly the demand for gold jewellery,” he said in his speech during the opening ceremony of the three-day Penang Signature Gold & Jewellery Fair (PSG) 2022 in Setia SPICE Convention Centre, Bayan Lepas today.
The event, which is the only gold exhibition in Southeast Asia, is being jointly organised by the Penang Goldsmith and Jewellers Association (PGJA) and Elite Expo Sdn Bhd.
PSG is making its sixth appearance as a strategic gold trading platform that gathers the top Malaysian gold manufacturers and wholesalers. It was not held for the past two years due to the Covid-19 pandemic.
Chow pointed out the event would provide a platform for businesses and networking opportunities to showcase the spectacular gold jewellery collections as well as the excellent gold craftsmanship.
“PSG 2022 plays a significant role in bringing interstate traders to recover and boost the domestic economy as well as the local tourism industry.
“Our country has exported RM2.29 billion worth of gold jewellery products from January to May this year, which was slightly more than the RM2.24 billion registered for the same period last year, according to the Malaysia External Trade Development Corporation (Matrade),” he said.
Chow foresees that the three-day event would bring the local and international traders together.
“I would like to commend the efforts by Elite Expo Sdn Bhd, and PGJA for organising this event,” he said.
PGJA chairman George Lo said the current top exporter countries are Singapore, United Arab Emirates (UAE) and China.
“Penang is the country’s largest gold jewellery exporter,” he said.
Among those present were, state Tourism and Creative Economy Committee chairman Yeoh Soon Hin, Komtar assemblyman Teh Lai Heng, who is also Chow’s political secretary, Elite Expo Sdn Bhd chief executive officer Datuk Johnson Lim, and Penang Convention & Exhibition Bureau (PCEB) chief executive officer Ashwin Gunasekeran.
Story by Edmund Lee
Pix by Darwina Mohd Daud
Video by Law Suun Ting