(February 19, 2022)

Honourable Mr. Chow Kon Yeow, Chief Minister of Penang,

Mr. Lee Kah Choon, Special Investment Advisor to the Chief Minister of Penang,

Mr. Aziz bin Bakar, CEO of PDC,

Mdm. Loo Lee Lian, CEO of InvestPenang,

Mr. Ong Chin Hu, Vice President and General Manager of StarFive Technology Malaysia,

Distinguished guests and friends,

Good morning! I am very glad to be invited to attend the release ceremony of the establishment of StarFive Technology’s Design Center in Penang, which is the first design center of the company in Southeast Asia. On behalf of the Consulate General of China in Penang, I would like to extend congratulations on the establishment of the design center!

At present, the world is still seeing the spread of COVID-19 pandemic that exerts a severe challenge on the global economy. China has coordinated efforts to advance both the prevention and control of the epidemic and the economic and social development, maintaining a good momentum of economic growth. In 2021, China’s GDP exceeded 110 trillion yuan RMB, grew by 8.1 percent year-on-year. China’s economic growth continues to rank high among the world’s major economies. According to the forecast of the International Monetary Fund (IMF), China’s GDP will account for about 18 percent of the world economy in 2021, increasing steadily year after year. In 2021, China’s non-financial direct investment in BRI countries reached 20.3 billion U.S. dollars, a year-on-year increase of 14.1%, which made positive contribution to the economic development of the host countries and demonstrated China’s determination of actively pursuing further opening-up to outside world. As China has entered a new stage of development, it implements the new development philosophy featuring innovative, coordinated, green, open, and shared growth, and accelerates the new development paradigm with domestic circulation as the mainstay, mutually reinforcing domestic and international circulations, firmly expands opening-up, and promotes high-quality development of the BRI cooperation. China encourages enterprises to actively implement the strategy of “going global” and bring their own development into closer alignment with the host countries’ development. We advocates and supports Chinese enterprises to cooperate with local enterprises in an equal and mutually beneficial manner, actively assume social responsibilities and share business opportunities and development achievements.

The COVID-19 pandemic has not stopped Chinese enterprises from investing in the consular district. In 2021, Chinese enterprises have kept continuously seeking consultations from the Chinese Consulate General in Penang about the investment environment in the consular district so as to make their investment plans. StarFive Technology has completed the implementation and operation in Penang entirely by the means of online communication, showing the vitality and courage of the science and technology enterprises. The company also gives us new hopes of promoting the bilateral cooperation between the localities of the two countries in a “cloud” way while adhering to the regular prevention and control measures of the COVID-19 pandemic.

Penang is an important economic and trade center in Northern Malaysia, an important center of Malaysia’s electronics industry, and also an important player in the global electronics sector. Penang is committed to the development of the Fourth Industrial Revolution (IR4.0), and actively promotes digitalization in the economic and social sectors to imbue the state with more vitality and dynamism. I believe that StarFive Technology will fully experience the charm of the “Silicon Valley of the East” from its decision to invest in Penang.

I hope that StarFive Technology will seize the opportunities and realize remarkable achievements in Penang, strive to create a bright name card for China-Malaysia cooperation in scientific and technological innovation, and contribute to the promotion of local economic development, the realization of the Penang 2030 vision and the pragmatic cooperation between China and Malaysia. The Consulate General of China in Penang will also continue to support Chinese enterprises in the consular district to leverage their own advantages, and carry out exchanges and cooperation with the economic community and various circles of the society in the consular district. Furthermore, we will continuously promote the cooperation between China and Malaysia and also between the localities of the two countries to achieve more results.

I sincerely wish StarFive Technology to work with the courage and strength of the tiger, make great achievements and be prosperous and thriving in your business! I wish everyone good health and family happiness in the Year of the Tiger! 

Thank you!