Welcoming the collaboration to foster an active business climate, InvestPenang director Datuk Seri Lee Kah Choon said the global supply chain reconfiguration and technological advancement have moved the needle in terms of business establishment.
Lee said corporates were being prompted to shift away from prioritising cost-cutting manufacturing measures and towards practices that ensure reliability, consistency and sustainability. He said this strategic public-private partnership aims to elevate the state’s existing efforts in attracting high-quality investors, by riding on HSBC’s international network which provides access to more than 90 per cent of global gross domestic product , trade and capital flows and key markets in more than 60 countries, while capitalising on InvestPenang’s investment promotion initiatives.
"At HSBC, we believe that Penang is an ideal location for many multinationals to invest, taking advantage of a very well established ecosystem, a deep local supply chain and an ample supply of highly trained personnel," he said.