SME village to take off in 2014

THE Penang SME Village project on a 60ha site in Batu Kawan on the mainland will take off in 2014.

This is following the completion of the Penang second link, which is scheduled for completion in the third quarter of next year.

The building plans for the SME Village will be submitted to the Seberang Prai Municipal Council this month.

SMEs that are tenants of the RM40mil Penang SME Centre in Bayan Lepas will get priority to move into the SME Village when it is completed.

The purpose of the SME Village, which is the same as the Penang SME Centre, is to strengthen the competitive edge of SMEs in the state so that they can better serve the needs of multinational corporations (MNCs).

Chief Minister Lim Guan Eng said the state government was waiting for the second link to be completed first before executing the plans for the SME Village.

“While foreign direct investments (FDIs) are important to Penang and have been instrumental in promoting industrial development in the state, SMEs are equally important as they provide the much sought after ancillary and support services to the FDIs or MNCs.

”Today, the availability of supply chain or ancillary and support services is an important determining factor for FDIs in selecting the location for their investments,” he said recently after visiting the Penang SME Centre in the Bayan Lepas Industrial Park fourth phase.

The centre is over 80% completed and is expected to receive the certificate of completion and compliance (CCC) by end of next month.

Also present were Penang SME management council member Datuk Dr Mohd Sofi Osman, Penang Development Corporation (PDC) general manager Datuk Rosli Jaafar, and investPenang executive committee chairman Datuk Lee Kah Choon.

So far, 10 local SMEs had applied for the about half of the net lettable area of 130,000sq ft in the four-storey Penang SME Centre building, Lim said.

The rental rates for the Penang SME Centre ranges from RM1.50 to RM1.80 per sq ft for the first year which are below market rates.

The tenancy period is five years and subjected to renewal.

The tenants of the SME Centre will enjoy 24-hour security service, cleaning and landscaping.

“In addition, they will also get to tap into investPenang’s industry network of venture capitalist, research institutions, potential markets opportunities and intelligence, apply for MSC status and receive incentives from Multimedia Development Corporation, enjoy business mentoring provided by the Penang Science Council Committee and given priority lane for purchasing industrial land from PDC.

“InvestPenang will also showcase the centre’s tenants to potential investors, MNCs, and other large companies,” Lim added. - The Star