The Penang Convention & Exhibition Bureau (PCEB) launched its annual review 2023 at the newly opened Penang Marriott Hotel.

The gathering was attended by hospitality industry players and other stakeholders.

Guest of honour was Penang Chief Minister YAB Chow Kon Yeow along with Penang State Exco for Tourism and Creative Economy YB Wong Hon Wai.

They were received by PCEB chief executive officer Ashwin Gunasekeran and his team.

Also present was Datin S Barathi, General Manager of Chief Minister Penang Incorporated (CMI), Shahrul Aman Sabir Ahmad Regional Director of Tourism Malaysia and his deputy Siti Hajar, Dato’ Khoo Boo Lim, Vice President of Malaysian Association of Hotels (MAH) National, Dato’ Tony Goh Chairman of the Malaysian Association of Hotels (MAH Penang Chapter), Carolyn Leong 

Chairman of MATTA Penang Chapter, Andy Lau Chairman of MyBha Penang Chapter among others.

In his address, Chow expressed his delight in reflecting the success of Penang in 2023.

“It fills me with pride to witness the resilience of our community and the positive strides we have all made.

“Penang Convention & Exhibition Bureau (PCEB), we successfully hosted a record-breaking 604 events, marking a nearly three-fold increase from the previous year.

“These events contributed significantly, with an estimated economic impact of RM1.033 billion.

“I express my gratitude to PCEB and our partners for your dedicated efforts in putting Penang back on the global map”, said Chow. 

He also expressed the state government’s commitment in creating a conducive macroeconomic climate for business events, enhancing the overall travel experience. Initiatives such as the expansion of the Penang International Airport, the Penang Light Rail Transit, the Penang Hill Cable Car, and the development of Gurney Bay are underway to support this vision.

He also added that over the past five decades, Penang has developed a robust manufacturing ecosystem that withstood the global challenges. 

“Penang is now positioned as an advanced manufacturing hub and now houses more than 350 MNCs and 4,000 SMEs, creating a very conducive manufacturing ecosystem for investors to operate and grow.

“Penang topped the nation’s list in 2021 with an export value of RM354 billion recorded. The external trade momentum has persisted into 2022, reaching an all-time high of RM463 billion, with a 5-year compounded annual growth rate of 15 percent, representing 30 percent of the country’s total. In terms of investment performance, the State has garnered RM13.7 billion in total approved manufacturing investments in 2022, with foreign direct investments (FDI) contributing 71 percent  of the total investment inflows. In the first three quarters of 2023, Penang recorded RM38.9 billion of approved manufacturing investment, representing 39 percent of the said total nationwide, comprising 107 manufacturing projects and estimates to create 11,121 new job opportunities in the State”, shared Chow.

In ending his speech, Chow sent his congratulations to PCEB and conveyed his sincere thanks to all stakeholders for their continued trust in the Penang State Government. 

Guests were treated to a fine dinner put out by the Food & Beverage Department of the Penang Marriott Hotel.