GEORGE TOWN, May 18 — Five goldsmith and jewellery manufacturing firms will invest RM49.6 million to start a Gold and Jewellery Cluster at the Batu Kawan Industrial Park.
Penang Chief Minister Lim Guan Eng, who announced this today, said the five companies that are part of the Penang Goldsmith Association will take up 4.2 acres of land at the industrial park on the mainland.
“Penang is the pioneer in the gold and jewellery industry and the Penang Goldsmith Association is one of the oldest trade association in Penang established in 1832,” he said in a press conference today.
Lim said Penang is the main contributor to the Malaysian gold and jewellery industry, accounting for 85 per cent of the RM7.2 billion in exports.
Penang companies export jewellery and gold to more than 20 countries such as Japan, US, Germany, UAE, Canada, Hong Kong, Thailand, Philippines and Singapore, he added.
“We hope that the entry of these five companies in Batu Kawan Industrial Park will strengthen Penang’s position as a major gold finishing hub, create higher value jobs and income opportunities for craftsmen and other stakeholders in the industry,” he said.
Construction is set to start either in the second half of this year or the first half of next year, pending relevant approvals from the authorities.
Lim said there was still space for other similar firms in the cluster.
Penang Goldsmith Association adviser and immediate past chairman George Lo Siew Cheong said the investment by the five companies will create about 600 jobs for locals.