GEORGE TOWN: Penang is launching the CM Fund-Transition Financing Scheme to position itself as Southeast Asia’s leading green manufacturing hub.
Chief Minister Chow Kon Yeow announced that the Penang Green Council will spearhead this initiative to accelerate sustainable growth among small and medium-sized enterprises.
The scheme combines preferential financing with environmental, social, and governance capacity-building through a partnership with a local banking institution.
“This fund is designed to make going green easier, faster and more rewarding,“ Chow stated during the Federation of Malaysian Manufacturers Penang anniversary dinner.
He confirmed the scheme’s launch by year-end, which will strengthen Penang’s manufacturing ecosystem and regional leadership in sustainable production.
Chow also welcomed Parliament’s recent passing of the Countervailing and Anti-Dumping Duties (Amendment) Bill 2025 for protecting Malaysian manufacturers.
“Protecting our manufacturers means protecting the backbone of our economy,“ he emphasised, noting the importance of economic integrity alongside growth.
The bill aims to ensure fair trade amid global tariff concerns and challenges to the World Trade Organisation’s multilateral system.
Distinguished attendees included Penang Governor Tun Ramli Ngah Talib, Human Resources Minister Steven Sim Chee Keong, and FMM president Tan Sri Soh Thian Lai. – Bernama