Latest news with #NorthernAnnualLuncheonDialogue2025
The Sun
3 days ago
- Business
- The Sun
Penang stays resilient, innovative amid world trade tensions
GEORGE TOWN: Penang has reaffirmed its commitment to resilience, innovation, and maintaining global competitiveness amid world's trading environment which remains tense, said Chief Minister Chow Kon Yeow. He said during the Malaysian International Chamber of Commerce and Industry (MICCI) Northern Annual Luncheon Dialogue 2025 here today that Penang remains open for business, innovation and collaboration because the state has always been about resilience. 'From our trading port roots to our rise as a global electronics and innovation hub, we have learned to pivot when the world shifts and this moment is no different. Our economy is tightly integrated into global supply chains whether it's semiconductors, electronics, precision tools or medical devices. 'So when shocks happen, they are felt in Bayan Lepas and Batu Kawan just as much as in Shanghai (China) or San Jose (California). But I always say, we must look for silver linings, not all is doom and gloom,' he said. Chow pointed out that multinational firms reassess their regional footprints and many are looking to move into more politically stable, efficient and transparent ecosystems. Thus, Penang with robust infrastructure, skilled workforce, and business-friendly environment is a natural choice, he said. He also praised Malaysia's proactive diplomatic efforts due to indications that tariffs on Malaysian goods may be capped at 10 per cent as opposed to the feared 24 per cent or more by US President Donald Trump. 'As our Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz rightly pointed out, this is a favourable shift and one that reflects, in part, Malaysia's proactive diplomatic efforts. 'I applaud the Prime Minister (Datuk Seri Anwar Ibrahim) for taking a direct and decisive approach, including writing personally to Trump to propose a US-ASEAN Special Summit. This shows that Malaysia is not just reacting but taking leadership in shaping trade outcomes for the region,' he added. The luncheon were also attended by MICCI Northern Branch chairman Datuk Brian Tan Guan Hooi together with 200 attendees from various industries and related sectors.
The Sun
3 days ago
- Business
- The Sun
Penang on track for large scale projects, pledge effective traffic management
GEORGE TOWN: The Penang state government has assured that effective traffic management strategies will be implemented to minimise disruptions during the construction of upcoming large scale projects. Chief Minister Chow Kon Yeow said the projects including Penang South Islands (PSI) project, the Mutiara Line Light Rail Transit (LRT) and the Juru-Sungai Dua Elevated Highway may cause temporary traffic congestion but it is a part of the development process. 'Many years ago when our team visited Gamuda in Kuala Lumpur, where they were at that time implementing the LRT project, we were introduced to the various traffic management strategies and a program that they managed at that time during the construction phase. 'I believe all contractors appointed for this massive project in Penang will take note of traffic dispersal and the key consideration is to maintain the number of lanes during construction, despite having to take away certain parts of the roads away from the vehicles, additional space would have to be created so that the original number of lanes will be retained,' he said. Chow said this while responding to questions during the Malaysian International Chamber of Commerce and Industry (MICCI) Northern Annual Luncheon Dialogue 2025, here today and also attended by MICCI Northern Branch Chairman Datuk Brian Tan Guan Hooi together with 200 attendees from various industries and related sectors. With a proper traffic management and patience from all road users, Chow is confident the state government will be able to mitigate and make travelling more comfortable despite the congestion. He also confirmed that the Penang LRT project is expected to begin in the third quarter of this year, with completion projected within six to seven years, while the Juru–Sungai Dua Elevated Highway is scheduled to commence by the end of the year. Prime Minister Datuk Seri Anwar Ibrahim in tabling Budget 2025 on Oct 18 last year, announced several projects in Penang, including the Juru-Sungai Dua Elevated Highway, Mutiara Line LRT, the expansion of Penang International Airport (LTAPP) and the Batu Kawan Industrial Park 3 project. The 29.5-kilometre Mutiara Line LRT will feature 21 strategically located stations and is designed to enhance connectivity between Penang Island and the mainland, reduce road congestion, and improve overall accessibility. Meanwhile, Chow also noted that the state-led PSI project continues to make progress with some 60.71 hectares of land already reclaimed over the past 18 months. He said the state government is awaiting 'good news' from the federal government regarding the incentive packages for potential purchasers of the land for industrial development. PSI or Silicon Island, with a land area of 930.78 hectares, is a reclamation project owned by the Penang government.
The Sun
3 days ago
- Business
- The Sun
Penang on track for large scale projects
GEORGE TOWN: The Penang state government has assured that effective traffic management strategies will be implemented to minimise disruptions during the construction of upcoming large scale projects. Chief Minister Chow Kon Yeow said the projects including Penang South Islands (PSI) project, the Mutiara Line Light Rail Transit (LRT) and the Juru-Sungai Dua Elevated Highway may cause temporary traffic congestion but it is a part of the development process. 'Many years ago when our team visited Gamuda in Kuala Lumpur, where they were at that time implementing the LRT project, we were introduced to the various traffic management strategies and a program that they managed at that time during the construction phase. 'I believe all contractors appointed for this massive project in Penang will take note of traffic dispersal and the key consideration is to maintain the number of lanes during construction, despite having to take away certain parts of the roads away from the vehicles, additional space would have to be created so that the original number of lanes will be retained,' he said. Chow said this while responding to questions during the Malaysian International Chamber of Commerce and Industry (MICCI) Northern Annual Luncheon Dialogue 2025, here today and also attended by MICCI Northern Branch Chairman Datuk Brian Tan Guan Hooi together with 200 attendees from various industries and related sectors. With a proper traffic management and patience from all road users, Chow is confident the state government will be able to mitigate and make travelling more comfortable despite the congestion. He also confirmed that the Penang LRT project is expected to begin in the third quarter of this year, with completion projected within six to seven years, while the Juru–Sungai Dua Elevated Highway is scheduled to commence by the end of the year. Prime Minister Datuk Seri Anwar Ibrahim in tabling Budget 2025 on Oct 18 last year, announced several projects in Penang, including the Juru-Sungai Dua Elevated Highway, Mutiara Line LRT, the expansion of Penang International Airport (LTAPP) and the Batu Kawan Industrial Park 3 project. The 29.5-kilometre Mutiara Line LRT will feature 21 strategically located stations and is designed to enhance connectivity between Penang Island and the mainland, reduce road congestion, and improve overall accessibility. Meanwhile, Chow also noted that the state-led PSI project continues to make progress with some 60.71 hectares of land already reclaimed over the past 18 months. He said the state government is awaiting 'good news' from the federal government regarding the incentive packages for potential purchasers of the land for industrial development. PSI or Silicon Island, with a land area of 930.78 hectares, is a reclamation project owned by the Penang government.
