GEORGE TOWN, Aug 29 (Bernama) -- Penang is set to take a major step towards becoming Southeast Asia’s leading green manufacturing hub with the upcoming launch of the CM Fund-Transition Financing Scheme.
Chief Minister Chow Kon Yeow said the state, through the Penang Green Council, is spearheading the CM Fund-Transition Financing Scheme to accelerate sustainable growth among small and medium-sized enterprises (SMEs).
He noted that the initiative, co-developed with a local banking partner, combines preferential financing with environmental, social, and governance (ESG) capacity-building, helping SMEs adopt greener practices and meet global sustainability standards.
“In short, this fund is designed to make going green easier, faster and more rewarding.
“By the end of this year, when we launch it, Penang will not only strengthen its manufacturing ecosystem but also take a big leap toward becoming the leading green manufacturing hub of the region,” he said at the Federation of Malaysian Manufacturers (FMM) Penang anniversary dinner 2025 here tonight.
Also in attendance were Penang Governor Tun Ramli Ngah Talib, Human Resources Minister Steven Sim Chee Keong and FMM president Tan Sri Soh Thian Lai.
Meanwhile, Chow also welcomed Parliament's recent passing of the the Countervailing and Anti-Dumping Duties (Amendment) Bill 2025 because it protects the country’s manufacturers.
“Protecting our manufacturers means protecting the backbone of our economy, and as Malaysia aspires to become a high-income nation, we must always remember that economic success without integrity is an empty victory,” he added.
The Countervailing and Anti-Dumping Duties (Amendment) Bill 2025, which was passed on Aug 26, aims to ensure fair trade in an atmosphere of tariffs and concerns over the multilateralism system under the World Trade Organisation.
-- BERNAMA
