Penang shines bright as Malaysia’s gold manufacturing hub

GEORGE TOWN — Penang continues to serve as the heart of Malaysia’s gold manufacturing sector, contributing approximately 80 per cent of the nation’s total production output.

Federation of Goldsmiths and Jewellers Association of Malaysia president Datuk Chiah Hock Yew said that gold manufacturers in the northern region are driving the industry to new heights.

“Penang and Seberang Perai are not only the core regions for gold manufacturing in Malaysia but also hold strong potential to become a regional hub for gold trade.

“We welcome delegates from around the world to negotiate and do business here. We also invite global exhibitors and visitors to explore, purchase, and experience the allure of Malaysian gold, injecting fresh vitality into our economy and tourism sector,” he said in his speech at the Malaysia Gold and Jewellery Trade Exhibition 2025, held at the Setia SPICE Convention Centre, here today.

Citing data from the Department of Statistics Malaysia released on April 18, Chiah said Malaysia’s export value of gold-related products in the first quarter of 2025 reached RM2.34 billion — a 9.76 per cent increase from RM2.13 billion during the same period in 2024.

“These encouraging figures reflect Malaysia’s growing competitiveness and strong potential in the global gold market,” he added.

Meanwhile, Penang Chief Minister Chow Kon Yeow, who officiated the event, said that with the shifting global trade landscape, there has never been a better time to position Penang as both a key player and potential leader in the regional jewellery industry.

He noted that the volatility of the global economy has led to a sharp rise in gold prices, which recently surpassed US$3,000 per ounce.

“This is more than just a market fluctuation, it is a signal. Gold continues to prove its timeless value, and the Malaysia Gold and Jewellery Trade Exhibition 2025 is more relevant than ever. Last year, 20 Penang-based companies took part in the exhibition, and we hope this number will continue to grow.

“We want Penang not only to shine as a global exhibition host, but also to lead as the national champion in gold and jewellery production. We believe in our local talent and the potential of our SMEs, and we are committed to supporting their growth,” he said.

This year’s exhibition attracted numerous top-tier international exhibitors, including Emirates Gold, Emirates Minting, Shangpinjin, and others from China, Hong Kong, Singapore, the UAE, Australia, Ireland, India, Myanmar, and Pakistan.

The Malaysia Gold and Jewellery Trade Exhibition ends on Sunday (May 11). — BERNAMA