Latest news with #MICCI
The Star
3 days ago
- Business
- The Star
Penang must lead through uncertainty, says CM
Chow lauds PM, trade minister for diplomatic efforts to engage US leadership. — Buletin Mutiara Chow urges businesses to remain competitive, agile, forward-looking amid US tariff talks PENANG cannot afford to turn a blind eye to the fragile state of global trade, especially after the United States' announcement of tariffs on imports ranging from 10% to nearly 50%, says Chief Minister Chow Kon Yeow. 'Our economy is tightly interwoven with global supply chains, from semiconductors to precision tools and medical devices. 'When shocks occur, the tremors are felt not only in Silicon Valley or Shanghai but right here in Bayan Lepas and Batu Kawan,' he said. State publisher Buletin Mutiara reported that Chow, however, said there might be cause for cautious optimism. With indications that tariffs on Malaysian goods may be capped at 10% as opposed to the feared 24% or more, he praised Malaysia's diplomatic efforts and proactive leadership. 'I applaud Prime Minister Datuk Seri Anwar Ibrahim and our Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Tengku Abdul Aziz for taking swift, strategic steps, including directly engaging the US leadership. 'It is proof that diplomacy still works when backed by a strong policy foundation and credible leadership,' said Chow. Nevertheless, he cautioned that a 10% tariff was significant and businesses in Penang must remain agile, competitive and forward-looking. He was speaking at a luncheon with members of the Malaysian International Chamber of Commerce and Industry (MICCI) in George Town. Chow said he had been slated to speak on 'Penang on the Rise – Focusing on Infrastructure, Sustainability & Innovation' but shifted his tone in light of recent geopolitical developments. He said Penang's role as a critical link in global supply chains left it acutely exposed to international economic disruptions but also uniquely placed to seize new opportunities. He also reaffirmed the state's commitment to resilience, innovation and global competitiveness in the face of growing trade tensions, stating that Penang is well-positioned to navigate and lead during this uncertain period in global economics. Separately, Chow underscored the importance of strong public-private collaboration in navigating these changes, highlighting the role of MICCI and its members as strategic partners. 'You are more than just the voice of business. 'Through feedback, policy alignment, and talent development, your collaboration with the state government, particularly through InvestPenang and Penang Development Corporation, helps ensure we cannot only adapt but lead,' he said. Echoing Penang's history as a trading hub turned technology powerhouse, Chow concluded his remarks with a message of resilience and opportunity. 'Penang remains open for business, open for innovation and open for collaboration. 'Let us not just respond to uncertainty but lead through it,' he stated. Also present were state executive councillors Daniel Gooi Zi Sen and Lim Siew Khim and MICCI northern branch chairman Datuk Brian Tan Guan Hooi.
Malay Mail
04-06-2025
- Business
- Malay Mail
Penang CM promises minimal traffic disruptions as major projects including LRT, PSI take shape
EORGE TOWN, June 4 — 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 the 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 programme 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 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 October 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. — Bernama
The Sun
03-06-2025
- 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
03-06-2025
- 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
03-06-2025
- 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.
