GEORGE TOWN – Talent supply remains Penang’s biggest challenge in attracting more investments, Chief Minister Chow Kon Yeow said.
While the state can overcome its shortage of land and fulfil the infrastructural needs of high-value manufacturers, it is difficult for them to meet the demand for the right talent, particularly for the electronics and electrical (E&E) subsector, he said.
Penang is considered a key player in the E&E global supply chain, where demand is expected to remain bullish at least until 2028.
In the next five to seven years, demand for E&E will continue to be high, and so would the creation of high-value jobs.
“Penang needs to find workers who excel in such vocations,” Chow said after an event at the Penang Skills Development Corporation (PSDC) campus at the Bayan Lepas Free Industrial Zone.
Chow revealed that the Asean semiconductor market is now valued at RM27 billion and by 2028, it will rise to RM41 billion with an annual growth rate of 6%.
“Penang is a growing hub for chips and with various geopolitical issues in the region, there are both challenges and opportunities. We must rise up to it,” he said, referring to the protracted US-China trade war.
The event today involved an industry pledge programme whereby 20 manufacturers, mostly multinational corporations, have agreed to hire PSDC graduates trained in maintenance, engineering, and assembly-line production.
Chow said that Penang is pushing for young people to be equipped with vocational skills and to enhance their skills through science, technology, engineering, and mathematics subjects in line with the world’s rapid migration into the digitalised age. – The Vibes, August 2, 2022.
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