GEORGE TOWN – Penang received two major investments in the areas of tech support services and gastronomy respectively.
Chief Minister Chow Kon Yeow said these investments would help boost the state’s standing as a preferred electrical and electronics investment hub and a paradise for foodies.
He expects the spillover effects to generate economic activities from more jobs to innovation as well as help achieve a greater quality of living for residents here.
The investments are also tailored to Penang’s desire to move up the value chain rather than just as a low-end supplier of electrical and electronic components to support services in the world of high tech and innovation.
And it came with the pledge by AMD Global Services to invest in the state’s latest global business services (GBS) project in Bayan Lepas.
It will be the major tenant for the upcoming GBS by the Sea project by taking up 209,000sqft out of the 300,000sqft floor space at the facility near the Bayan Lepas Free Industrial Zone.
The project includes a nine-storey office building and a six-storey multilevel car park to address the rising demand from GBS, as well as to meet the needs of those in technology and research and development.
PDC chief executive officer Datuk Aziz Bakar said “GBS by the Sea” would involve an investment of RM200 million, excluding the land cost.
AMD executive vice-president Datuk Devinder Kumar said the expansion in Penang marked a major milestone for AMD Malaysia, signalling confidence among the foreign direct investors (FDI) fraternity.
“The ‘GBS by the Sea’ building will house our new state-of-the-art office space and lab facility,” he told a press conference here yesterday.
Chow noted that AMD Malaysia, since its first assembly manufacturing facility in Penang in 1972, has now grown to employ over 800 people across two GBS facilities in Penang and Cyberjaya.
“Penang is pleased to welcome the participation from industry players, deepening their roots in the state. The confidence from existing investors such as AMD augurs well for the state’s development.”
Among those present were his special investment advisor Datuk Seri Lee Kah Choon and InvestPenang chief executive officer Datuk Loo Lee Lian.
Earlier at the St Giles Wembly Hotel, Chow launched the FREZH: Top Penang Food and Beverage Industry coffee table book to mark the growth of the food and beverage industry in Penang, especially with the renowned street food as its pillar.
Book publisher Datuk Ch’ng Huck Theng, who is also the director of the country’s oldest biscuit maker Ghee Hiang, is the brainchild behind the production of the book.
Since last year, Ghee Hiang has embraced innovation to allow it to compete better in the food industry from its own ice cream to halal biscuits with the launching of its new kurma-flavoured Tau Sar Piah biscuits.
It is halal and would become a notable tasty treat for Muslims, who are now marking the fasting month of Ramadan.
Ghee Hiang has invested additional funds into its production centres and plans to diversify its range of biscuits and other snack items.
Chow highlighted Malaysia’s growth as a global hub for halal food branding, processing and marketing to Muslims worldwide, citing that the country has secured the highest procurement of halal products compared to 81 other countries as stated in a Global Islamic economic report.
“To fully harness this potential, the state government, through Penang Halal International (PHI), is focused on harnessing halal synergies by adopting digital developments and innovations to drive the growth cycle of the halal industry.”
To tap into the halal market better, Chow disclosed that Penang has allocated RM1.5 million to PHI to globally market the halal produce. – The Vibes, March 24, 2023
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