{"id":39679,"date":"2021-11-10T11:17:39","date_gmt":"2021-11-10T03:17:39","guid":{"rendered":"https:\/\/investpenang.gov.my\/asean-bac-malaysia-consultation-meeting-penang-eyes-asean-partnerships-to-become-a-green-and-smart-state-by-2030\/"},"modified":"2025-11-28T14:50:17","modified_gmt":"2025-11-28T06:50:17","slug":"asean-bac-malaysia-consultation-meeting-penang-eyes-asean-partnerships-to-become-a-green-and-smart-state-by-2030","status":"publish","type":"post","link":"https:\/\/investpenang.gov.my\/zh-hans\/asean-bac-malaysia-consultation-meeting-penang-eyes-asean-partnerships-to-become-a-green-and-smart-state-by-2030\/","title":{"rendered":"ASEAN BAC Malaysia Consultation Meeting: Penang Eyes ASEAN Partnerships to Become a Green and Smart State by 2030"},"content":{"rendered":"

[vc_row css_animation=”” row_type=”row” use_row_as_full_screen_section=”no” type=”full_width” angled_section=”no” text_align=”left” background_image_as_pattern=”without_pattern” el_class=”sec-inner-banner” css=”.vc_custom_1703741584745{background-image: url(https:\/\/investpenang.gov.my\/wp-content\/uploads\/2023\/12\/contact-banner-bg.jpg?id=20253) !important;}” z_index=””][vc_column][vc_row_inner row_type=”row” type=”grid” text_align=”left” css_animation=”” el_class=”inner-banner-row”][vc_column_inner][vc_column_text]<\/p>\n

ASEAN BAC Malaysia Consultation Meeting: Penang Eyes ASEAN Partnerships to Become a Green and Smart State by 2030<\/h1>\n

[\/vc_column_text][vc_separator type=”normal” el_class=”red-separator” color=”#ee4023″ transparency=”1″ thickness=”2″ up=”15″ down=”15″][vc_column_text css=”” el_class=”white-text”]<\/p>\n

8 November 2021<\/p>\n

[\/vc_column_text][\/vc_column_inner][\/vc_row_inner][\/vc_column][\/vc_row][vc_row css_animation=”” row_type=”row” use_row_as_full_screen_section=”no” type=”grid” angled_section=”no” text_align=”left” background_image_as_pattern=”without_pattern” css=”.vc_custom_1703764846254{background-color: #f3f5f8 !important;}” z_index=””][vc_column el_class=”fade-in animate”][vc_empty_space height=”120px” el_class=”height-x120″][vc_row_inner row_type=”row” type=”grid” text_align=”left” css_animation=””][vc_column_inner][vc_single_image image=”29909″ img_size=”full” qode_css_animation=”” el_class=”single-featured-image”][\/vc_column_inner][\/vc_row_inner][vc_empty_space height=”60px” el_class=”height-x60″][vc_row_inner row_type=”row” type=”grid” text_align=”left” css_animation=”” el_class=”content-row”][vc_column_inner][vc_column_text]Nov 8 – The ASEAN Business Advisory Council (ASEAN-BAC) Malaysia held a consultation meeting with the Penang state government and state agencies on 8 November 2021 to discuss the state\u2019s efforts in attracting foreign direct investment, how it sees itself within the context of the larger ASEAN region, and its vision for the future of Penang.<\/p>\n

\u201cThis year marks a challenging beginning to a new decade and for our journey towards Penang\u2019s Vision 2030 for a family-focused green and smart state that inspires the nation,\u201d said Penang Chief Minister Yang Amat Berhormat Tuan Chow Kon Yeow. \u201cHowever, with our strong positioning in strategic industries such as electrical and electronics (E&E), medical technology, global business services, and the reopening of tourism, Penang is expected to contribute substantially to the nation\u2019s recovery in the post-pandemic period.\u201d<\/p>\n

\u201cPenang\u2019s GDP recorded a -2.1% contraction in 2020, a less severe contraction when compared to the national average of -5.6,\u201d he added. \u201cWe will bounce back stronger, solidify our position in the region as an investment, industrial and trade powerhouse, and enhance synergies with our immediate ASEAN neighbours who play crucial roles as Malaysia’s dialogue and development partners.\u201d<\/p>\n

The meeting was chaired by ASEAN-BAC Malaysia Chairman Tan Sri Dr Munir Majid, who noted that while Penang is projected to grow at an average rate of 5.4% from 2021 to 2025 under the 12th Malaysia Plan, the real challenge was in ensuring that such growth is achieved in line with Penang\u2019s Vision 2030 for a green and smart state.<\/p>\n

\u201cHaving been the leader in Malaysia\u2019s manufacturing sector, can Penang now also lead the country not only to build back better but to build back greener in the aftermath of the COVID-19 pandemic?\u201d he asked.<\/p>\n

1. Penang\u2019s manufacturing sector grew in 2020, bucking the pandemic downtrend buoyed by the strength of its E&E industry<\/strong><\/p>\n

Chief Minister Chow believes that Penang, Malaysia, and ASEAN in general will benefit from the growing trade tensions between the United States and China as multinational investors look to increase the geographic diversification of their investments. According to him, all economic sectors in Penang experienced a contraction in 2020 except for its manufacturing sector which grew by 2.8%, driven mainly by an increase in the production of E&E and optical goods.<\/p>\n

ASEAN-BAC Malaysia Council Member Tan Sri Yong Poh Kon expects this uptrend to continue, \u201cPenang has always been at the forefront in manufacturing especially in the E&E sector with a well-established ecosystem which includes the Penang Skills Development Centre (PSDC), Collaborative Research in Engineering, Science and Technology (CREST), and a supportive state government and state agencies. The state is expected to be one of the first to show quick growth in manufacturing with the opening up of the economy, extending later to the services and hospitality sectors which will need a greater level of support and attention to recover.\u201d<\/p>\n

Fellow ASEAN-BAC Malaysia Council Member Mr Raja Singham concurred, \u201cPenang recorded RM1.1 billion in authorized manufacturing investments for 40 projects in the first quarter of 2021 alone and the state\u2019s manufacturing sector will continue to be a leader in attracting strong foreign direct investments. The 12th Malaysia Plan will also assist in the state\u2019s efforts to upgrade its economic and industrial structure and overcome the challenges brought by the pandemic.\u201d<\/p>\n

Mr Raja Singham also expressed hopes that Penang\u2019s tourism sector will see a boom as COVID-19 pandemic restrictions ease.<\/p>\n

2. Penang is well-positioned to be a gateway to the larger ASEAN market<\/strong><\/p>\n

ASEAN-BAC Chairman Tan Sri Munir Majid urged the state to tap into opportunities in the larger ASEAN, Regional Comprehensive Economic Partnership (RCEP), and Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) markets.<\/p>\n

InvestPenang CEO Dato\u2019 Loo Lee Lian concurred, \u201cLeveraging on our expertise in the E&E and MedTech industries, technology frontiers could use Penang as a gateway to tap into opportunities in the ASEAN and Asia Pacific regions which have an increasing influence on the global technological landscape and rising purchasing power.\u201d<\/p>\n

\u201cThe state, via InvestPenang, continues to uphold Penang\u2019s strong industry clusters and robust ecosystem that are critical for supply chain sustainability. Riding on the competitive edges of each country, ASEAN members could collectively create a strong regional ecosystem to serve the emerging sectors resulting from the advancement of technologies,\u201d Dato\u2019 Loo added.<\/p>\n

Penang Development Corporation (PDC) CEO Dato\u2019 Mohd Bazid Hj Abd Kahar, for his part, highlighted the state agency\u2019s plans to develop Penang Health & Tech City, a new medical hub developed in collaboration with iHeal Health in Bandar Cassia Batu Kawan that will comprise private and public hospitals, as well as a plethora of lifestyle and wellness amenities. The hub will also house the ASEAN Institute of Transplantation, a new entity that aims to transform the region\u2019s organ transplant ecosystem and emulate the success of organ sharing networks in the US and Europe.<\/p>\n

\u201cAs ASEAN countries come together in areas of politics, economy and defence, healthcare can be another common bond to enhance the prosperity and wellbeing of the region. In this context, the setting up of an ASEAN Network for Organ Sharing (ASEANOS)\u2014coordinated by the ASEAN Institute of Transplantation\u2014will be a catalyst for the growth of organ transplantation in the region,\u201d said Dato\u2019 Mohd Bazid. \u201cSince Malaysia is expected to helm the ASEAN Chairmanship in 2025, we envisage the opening of the ASEAN Institute of Transplantation to be the hallmark of events leading up to the 60th anniversary of ASEAN on 8th August 2027.\u201d<\/p>\n

3. Penang is committed to deepening cooperation with the larger ASEAN Community as part of the state\u2019s Vision 2030<\/strong><\/p>\n

According to the state government, Singapore, Thailand, Vietnam and Indonesia are among Penang’s top trade partners, generating RM96.1 billion for the state in 2020.<\/p>\n

\u201cPenang also aims to enhance cooperation within the Indonesia-Malaysia-Thailand Growth Triangle (IMT-GT),\u201d said Chief Minister Chow. \u201cWe have identified the areas for trade enhancement to include halal products, logistics, trading, components and parts manufacturing.\u201d<\/p>\n

\u201cWe are wholly committed to capitalizing on the enormous potential in both the IMT-GT and among our strategic ASEAN partners. Penang\u2019s Vision 2030 is very much in line with the ASEAN 2025 \u2018Forging Ahead Together\u2019 vision and we will continue to be a strategic and enthusiastic partner in support of the ASEAN Community.\u201d<\/p>\n

Source: ASEAN BAC<\/a>[\/vc_column_text][\/vc_column_inner][\/vc_row_inner][vc_empty_space height=”120px” el_class=”height-x120″][\/vc_column][\/vc_row]<\/p>\n<\/div>","protected":false},"excerpt":{"rendered":"

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10<\/h2>\n
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Wed<\/p>\n

November \u201821<\/p>\n<\/p><\/div>\n<\/p><\/div>\n","protected":false},"author":5119,"featured_media":29909,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[316],"tags":[],"news_year":[218],"news_month":[229],"local_insights_alphabet":[],"acf":[],"_links":{"self":[{"href":"https:\/\/investpenang.gov.my\/zh-hans\/wp-json\/wp\/v2\/posts\/39679"}],"collection":[{"href":"https:\/\/investpenang.gov.my\/zh-hans\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/investpenang.gov.my\/zh-hans\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/investpenang.gov.my\/zh-hans\/wp-json\/wp\/v2\/users\/5119"}],"replies":[{"embeddable":true,"href":"https:\/\/investpenang.gov.my\/zh-hans\/wp-json\/wp\/v2\/comments?post=39679"}],"version-history":[{"count":2,"href":"https:\/\/investpenang.gov.my\/zh-hans\/wp-json\/wp\/v2\/posts\/39679\/revisions"}],"predecessor-version":[{"id":39681,"href":"https:\/\/investpenang.gov.my\/zh-hans\/wp-json\/wp\/v2\/posts\/39679\/revisions\/39681"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/investpenang.gov.my\/zh-hans\/wp-json\/wp\/v2\/media\/29909"}],"wp:attachment":[{"href":"https:\/\/investpenang.gov.my\/zh-hans\/wp-json\/wp\/v2\/media?parent=39679"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/investpenang.gov.my\/zh-hans\/wp-json\/wp\/v2\/categories?post=39679"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/investpenang.gov.my\/zh-hans\/wp-json\/wp\/v2\/tags?post=39679"},{"taxonomy":"news_year","embeddable":true,"href":"https:\/\/investpenang.gov.my\/zh-hans\/wp-json\/wp\/v2\/news_year?post=39679"},{"taxonomy":"news_month","embeddable":true,"href":"https:\/\/investpenang.gov.my\/zh-hans\/wp-json\/wp\/v2\/news_month?post=39679"},{"taxonomy":"local_insights_alphabet","embeddable":true,"href":"https:\/\/investpenang.gov.my\/zh-hans\/wp-json\/wp\/v2\/local_insights_alphabet?post=39679"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}