Time to look beyond manufacturing and tourism sectors, says Penang CM
PENANG needs to find new areas to grow the economy and no longer solely rely on the manufacturing and tourism sectors, said Chief Minister Chow Kon Yeow. He said it was time for Penang's small and medium enterprises (SMEs) to look beyond the stat...
Penang Chief Minister Chow Kon Yeow urged the state's small and medium enterprises (SMEs) to broaden their horizons and venture into regional and global markets, beyond the traditional manufacturing and tourism sectors. At the PPBEA new executive committee members' swearing-in ceremony, Chow emphasized the need for Penang SMEs to tap into new markets, develop new industries, and create more business opportunities.
The PPBEA, which serves a two-year term from 2026 to 2028, aims to complement other organizations such as the Chinese Chamber of Commerce, 88 Captains Association, SMEs Association, and Real Estate Developers Housing Association (REDHA). Chow encouraged the PPBEA members to play a more significant role in helping Penang businesses penetrate new markets by leveraging their diverse membership, business networks, and experience.
Additionally, Entrepreneur Development and Cooperatives Minister Steven Sim Chee Keong announced that the ministry has allocated RM9 billion to assist qualified entrepreneurs and SMEs in expanding their ventures, targeting to alleviate the cost of doing business for small to medium-scale ventures.
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