GEORGE TOWN: It is still too early to gauge the full impact of the ongoing conflict in the Middle East on Penang’s economy as the crisis has only been unfolding for about a week, said Chief Minister Chow Kon Yeow.
"It could potentially affect Penang’s industrial sector through disruptions to supply chains and logistics, as well as rising energy costs if the conflict drags on,” he said after launching the AI for Manufacturing Programme (AIMP) and AI Sandbox at the Penang Skills Development Centre (PSDC) in Bayan Baru on Tuesday (March 10).
He urged the industrial sector, especially manufacturers, to undertake short- and medium-term planning to mitigate potential operational challenges.
Chow added that the actual impact on Penang’s economy has yet to be determined, given that the conflict is still at an early stage.
“The state government will continue to monitor developments to assess the extent to which the situation may affect Penang’s economy and industrial sector,” he said.
