Penang must capitalise on China’s economic upgrades through high-tech and SME collaboration, says minister, amid global protectionism challenges.
GEORGE TOWN: Penang must capitalise on opportunities arising from China’s economic structural upgrades by strengthening collaboration in high-tech manufacturing and small and medium enterprises (SMEs). Penang DAP chairperson Steven Sim Chee Keong said deeper collaboration in industrial synergy, skills transfer and market integration would enable Penang, as a premier hub for high-tech manufacturing, to better navigate global challenges.
The statement was released following a courtesy visit by a Penang DAP State Committee delegation to the Consulate General of the People’s Republic of China in Penang. Sim, who is also the Entrepreneur Development and Cooperatives Minister, led the delegation to meet Consul General Zhou Youbin and his team to explore avenues for enhanced cooperation in trade, culture, tourism and governance.
Sim noted that the 50th anniversary of Malaysia-China diplomatic relations, celebrated last year, marked a historic milestone and provided renewed momentum for closer collaboration. He added that the milestone offered fresh opportunities to strengthen cooperation, particularly involving micro, small and medium-sized enterprises (MSMEs) in both nations.
Meanwhile, Zhou echoed Sim’s views, identifying significant potential for collaboration in emerging sectors including green energy, the digital economy, smart manufacturing and the creative industries. Zhou emphasised that the Consulate General of China in Penang places great importance on maintaining close ties with the governments of the four northern Malaysian states.
He also expressed the consulate’s readiness to work together to deepen subnational cooperation and strengthen exchanges between China and Malaysia.
