GEORGE TOWN – Penang recorded RM22.7 billion in high-impact investments last year – with 18,844 jobs generated – due to the continued growth and development of technology-related industries.
In a statement, the Northern Corridor Implementation Authority (NCIA) said to further build a strong and sustainable ecosystem for the state’s industrial and economic landscape, it is establishing a technology and innovation hub called NCER Technology Innovation Centre (NTIC).
It said the establishment of NTIC would be a crucial step in facilitating innovation and technology among local small and medium enterprises (SMEs) through collaborations with multinational companies and academia, while also providing a talent development platform to support industry needs.
NCIA chief executive Mohamad Haris Kader Sultan said the centre is an important part of its strategy to bring technology-related industries in the state to the next level.
“We believe that by working closely with multinational companies, local SMEs, and academia, we can create a vibrant ecosystem that will attract more businesses to the region and help to drive economic growth – not just in Penang but the Northern Corridor Economic Region as a whole.
“We believe that this will enable Penang to maintain its position as a top investment destination and a hub for technology development in the region,” he said.
Besides focusing on technology-related industries, NCIA said it is committed to promoting other key sectors in Penang, namely tourism, logistics, and smart farming – which are vital for creating significant job opportunities and driving economic growth.
Meanwhile, Chief Minister Chow Kon Yeow said the state is committed to working closely with NCIA and the federal government to bolster the state’s appeal to investors in the electronic and electrical, semiconductor, and manufacturing and engineering sectors.
“We are also committed to solidifying our position as a regional leader in advanced technology, high-value talent, and technology innovation, making Penang one of the top technology investment destinations in the world,” he added. – Bernama, May 19, 2023
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