DATUK SERI Anwar Ibrahim today launched a strategic project aimed at driving Penang's reputation as a regional hub for digitalisation for the coming years.
In conjunction with the launching of the Penang Silicon Design @ 5km + initiative, the prime minister allocated RM50 million as the start-up capital for the project to produce the next generation of smart chips.
As digitalisation evolves to power Artificial Intelligence, electronic automobiles, healthcare and the internet of things, the world needs chips which are currently dominated by the Santa Clara-based Nvidia, the United States world leader.
Industry insiders believe that Penang is said to be behind Taiwan and Nvidia by a couple of years in this new age of digital chips.
The Penang initiative captures the essence and rides on the momentum of shifting towards more design and innovation rather than outright manufacturing.
Anwar said that the sum underscores the Madani National Unity government's determination to develop the integrated circuit (IC) design industry.
The initiative also encompasses the GBS TechSpace, which is the Silicon Research and Incubation Space, a key component, as well as Integrated Circuit Design and Digital Park, the Penang Chip Design Academy.
The initiative, which spans 5km near the Bayan Lepas Free Industrial Zone, is part of the government's vision of a digital hub from northern Perak through Penang and the southern Kedah - Kulim Hi-Tech Park.
Penang will shoulder the bulk of the activities, especially since the state boasts of an international airport and a port.
The event also witnessed the signing of a memorandum of understanding between InvestPenang, strategic partners, and recipients of incentives under Silicon Design @5km+, as well as the unveiling of new investors.
Anwar spoke of how Penang has thrived to become the regional hub for digitalisation components.
But the country needs to strengthen its role in the IC ecosystem, fostering a dynamic and conducive environment with robust infrastructure, creating high-value job opportunities, and attracting direct investments, he said.
According to InvestPenang, incentive schemes have been introduced to attract IC design companies to establish and expand their operations in Penang, offering subsidies of up to RM2 million annually for three years to eligible local and foreign IC design firms.
Chief Minister Chow Kon Yeow said that the initiative is projected to attract investments worth RM120 million over the next five years, with the state government allocating RM60 million to support the programme.
Currently, 28 local and foreign firms in the IC design sector are operating in Penang.
Anwar later visited the CG Global Profastex Manufacturing Sdn Bhd factory in the Prai Industrial Estate and launched the Madani food sales at Permatang Pauh, his home town. - December 7, 2024.
