CHIEF Minister Chow Kon Yeow assured the Penang branch of the Malaysian International Chamber of Commerce (MICC) that his administration will not make empty promises but ones based on what is achievable.
"I would rather use this opportunity to have an honest conversation about where Penang is heading, the realities we face, and what government and industry must do together if we are to remain competitive beyond 2030," said Chow.
He said his administration is grounded on deliverables, which can be met rather than empty slogans.
The global economy has become increasingly unpredictable.
Geopolitical tensions, shifting supply chains, tariffs, inflationary pressures, rapid technological change and climate commitments are reshaping the way businesses operate.
None of us can afford to stand still, stressed Chow.
"Companies continue to choose Penang because of our industrial ecosystem, our skilled workforce, our supply chain maturity and our long-standing reputation as a reliable investment destination.
“But we should also be honest with ourselves."
Success brings new challenges, he said.
The very factors that make Penang attractive have also created pressures that cannot be ignored.
"Land is becoming increasingly scarce. Infrastructure is under strain. Traffic congestion affects productivity.
“Talent shortages remain a concern. Housing affordability, logistics efficiency, utility capacity and ESG compliance are becoming bigger considerations for businesses.
“These are genuine issues, and pretending otherwise serves no one."
The state is fully aware, and the administration is listening, he said.
"In fact, one of the strengths of Penang has always been our willingness to engage directly with industry.
“We value practical feedback because businesses experience these challenges firsthand.
“Organisations such as MICCI have long been important partners in policy advocacy, helping us understand where improvements are needed and where government intervention can make a real difference."
He said the state’s responsibility is to distinguish between what can be done immediately, what requires collaboration, and what is simply not realistic today.
“That is the approach we have always taken," he added. – July 30, 2026
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