PENANG is poised to strengthen its gold and jewellery sector following a notable surge in retail performance, with Chief Minister Chow Kon Yeow announcing plans to establish a dedicated gold industrial zone in Batu Kawan.
Speaking at the 63rd-anniversary celebration of the Seberang Perai Gold and Silver Jewellery Merchants Association, Chow highlighted the state's vision to create a globally competitive ecosystem anchored in craftsmanship, cultural heritage, and innovation.
“Penang is not only seeing robust retail sales in gold and jewellery but is also uniquely positioned as a premier tourism destination, which adds further value to the industry,” he said at the event, held at the Iconic Marjorie Hotel last night.
“In recent years, Seberang Perai – especially Batu Kawan – has emerged as one of the state’s most promising economic growth corridors. Penang therefore wants to lay a groundwork for the proposed Batu Kawan Gold Industrial Zone, with the vision of developing a thriving industrial cluster and positioning Penang as a regional hub for gold trading and innovation.”
His remarks on the proposed gold industrial zone were met with enthusiastic applause from the industry stakeholders in attendance.
Chow further revealed that two major developments within the proposed zone are nearing completion and are expected to begin operations soon.
“These projects represent more than just infrastructure. They are milestones that will bring about high-skilled employment, technology transfer, and enhanced economic value for the industry,” he said.
Commending the Seberang Perai Gold and Silver Jewellery Merchants Association for its longstanding contribution, Chow described its anniversary as not only a celebration of longevity but a testament to its unity, resilience, and progressive leadership in the sector.
With the global economy in the state of flux due to the imposition of the US import tariffs, gold and silver have become preferred commodities for investments.
Chow said that Penang with its logistic infrastructure, can become a hub for the reexports of gold -based products and ornaments. - May 11, 2025
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