THE Northern Corridor Implementation Authority’s (NCIA) collaboration with Penang state government has secured RM2.47 billion worth of investments this year.

According to NCIA, as at May 22, a total of 4,308 new job opportunities were created, signalling Penang’s continued upward economic recovery trend.

Malaysia’s trade performance surpassed the RM1 trillion mark between January and May 2022.

Penang recorded the highest exports, contributing 30.4% (RM143.5 million) of total exports from January to April 2022, which is a 25% increase from the same period last year.

“We welcome efforts by NCIA to further enhance Penang’s attractiveness to investors beyond the E&E (electric and electronics) and machinery and equipment (M&E) sectors, particularly in the development of industry-relevant and high-skilled local talent.

“By encouraging innovation and strengthening the industry ecosystem in NCER (North Corridor Economic Region), initiatives such as NCER Technology Innovation Centre (NTIC) will solidify Penang’s position as a technology and innovation hub for the region,” Penang Chief Minister Chow Kon Yeow (picture) said in a statement after chairing the Jawatankuasa Pemandu Negeri meeting today.

NTIC is an initiative that focuses on activities related to research, design, technology, innovation and commercialisation that will be launched in the third quarter of the year.

The hub will provide services and facilities for product innovation, linkages with local and international experts, local talent development, design and consultancy and a one-stop solution provider management system.

Meanwhile, NCIA CEO Mohamad Haris Kader Sultan said that the upward trend in investments demonstrates the industry’s confidence in Penang’s ability to rebound and accelerate as the nation transitions into the endemic phase.

In addressing the need for medium to high-skilled workforce to fill the current gap between supply and demand across various industries, particularly for economic transformation in the IR4.0, NTIC will bridge and facilitate industry requirements by leveraging on strategic partnerships with TVET (technical and vocational education training) centres of excellence in NCER, such as Penang Skills Development Centre, Kedah Industrial Skills and Management Development Centre, Kulim Advanced Technologies, Advanced Technology Training Centre and Perak Entrepreneur Development Centre.

“The Advanced Technology Meister Programme, which is an intervention programme under NTIC, aims to enhance the supply of skilled talent in automation, IR4.0 and advanced manufacturing technologies.

“The programme is targeted to kick off in July 2022 and will subsidise course fees for local talent to be upskilled and reskilled to meet the demand of the E&E, M&E and medical devices sectors that are major economic drivers in the NCER,” Mohamad Haris added. — TMR / pic source: Chow Kon Yeow FB