About the Forum
Co-organised by Penang Institute, RHB Banking Group, and the Ministry of Entrepreneur and Cooperative Development (KUSKOP), the Penang Economic Forum 2026 brought together policymakers, industry leaders, financial institutions, and entrepreneurs to address the opportunities and challenges facing Penang’s SME ecosystem.
Discussions highlighted persistent issues confronting SMEs, including rising operating costs, talent shortages, limited research and development investment, financing constraints, and the growing demands of digitalisation, ESG compliance, and integration into global supply chains.
Key Discussion: Taking SMEs to the Next Level
One of the forum’s most engaging sessions focused on elevating SMEs to the next stage of growth. Speakers explored practical strategies for innovation, talent development, access to financing, and positioning local firms as preferred suppliers within multinational value chains.
The discussion emphasised the need to move beyond diagnosing challenges and towards implementing actionable solutions that strengthen competitiveness, productivity, and long-term resilience.
Closing Fireside Chat
The forum concluded with a thought-provoking fireside chat between Minister of Entrepreneur and Cooperative Development YB Steven Sim Chee Keong and Penang Institute Executive Director Dato’ Dr. Ooi Kee Beng.
Their conversation went beyond immediate policy concerns to examine the deeper historical and regional factors shaping Penang’s entrepreneurial ecosystem. The session explored how the state can leverage its strategic strengths, talent base, and global connections to punch above its weight in an increasingly competitive region.
