Penang Outlook Forum 2010

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SINGAPORE, Thurs: The Socio-Economic and Environmental Research Institute (SERI) together with the Institute of Southeast Asian Studies (ISEAS) held the Penang Outlook Forum 2010 today.

 The keynote address at the event titled ‘Penang in Asia’ was delivered by the Penang Chief Minister Lim Guan Eng. ISEAS Director Ambassador K. Kesavapany delivered the welcoming address, while SERI was represented by its Executive Director Liew Chin Tong.

The forum was attended by key personalities from Penang including Penang Deputy Chief Minister Dr P. Ramasamy, InvestPenang’s Executive Chairman of the Board Dato Lee Kah Choon, PBA Holdings Bhd CEO Jaseni Maidinsa, Penang Development Corporation’s General Manager Dato Rosli Jaafar, and Penang Heritage Trust President Khoo Salma Nasution.

About 160 Singaporeans and former residents from Penang attended the forum that seeks to take advantage of Penang’s attributes, to identify niche industries Penang has to offer the region, and also to ascertain measures that would help propel Penang forward in this age of the Asian renaissance.

In his welcoming remarks, Liew said Penang has to re-orientate itself towards the growing Asian economies and position the state as a “provider of unique value propositions for Asia”.

“Being essentially cosmopolitan and rich in heritage, Penang has the potential to carve out a new role for itself regionally and internationally.

“As the global economy undergoes a major transformation after the financial crisis nearly two years ago, and as the Malaysian economy is at a crossroads, Penang needs to search for its place not only in Malaysia but in Asia.”

Meanwhile, Chief Minister Lim Guan Eng in his keynote address said that the vision for Penang was to transform it into an international city that is the location of choice for investors, destination of choice for tourists and also a habitat of choice for those who desire sustainable living.

“For this to become reality, Penang must step up regional engagement, cooperation and collaboration. Penang’s economy can only flourish with it is intertwined with the rest of the world. In fact, in this global age, Penang must foster many kinds of collaboration. We must work across borders between governments, industries and even academic institutions.

“Our challenge today is to maintain Penang’s competitive edge by converting into a knowledge-based an innovation-driven economy,” said Lim.

He said Penang must develop a tangible plan that provides a vision for the state. He added that an industrial blueprint to develop a positive environment to attract investement is required for sustained growth and to revitalize the State’s economy to its fullest potential.

The forum today, held at the ISEAS premises saw 12 papers being presented. The event was closed by Dr Ramasamy.

The inaugural Penang Outlook Forum as held in George Town last year in Penang where the topic of discussion was “Restructuring and Reshaping Penang.”

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Keynote address by the Chief Minister of Penang Lim Guan Eng at the Penang Outlook Forum 2010 On 3 June 2010 in Singapore

Speech by SERI Executive Director Liew Chin Tong

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