PENANG is set to breach the RM1 billion mark in business events this year, within two years of setting up the Penang Convention and Exhibition Bureau (PCEB).

Chief Minister Lim Guan Eng said over the first nine months of the year, the state had recorded an estimated economic impact of RM900 million.

The state hosted 1,731 events from January to September, compared with 1,251 events in the whole of last year, which recorded an economic impact of RM808 million.

“This translated to a 27.7% increase in the number of events and a 7% increase in the estimated economic impact.

“We are confident of breaking past the RM1 billion mark this year,” said Lim at the opening of PCEB’s second BE @ Penang 2017 conference at the Setia SPICE Convention Centre this morning.

He said this was achieved within two years of the state government setting up PCEB to further develop the state’s meetings, incentives, conventions and exhibition (MICE) industry.

He said this proved that Penang, PCEB and industry players that had come together to form “Team Penang” were on the right track.

“We get the economic spillovers, apart from the economic impact, and industry players will get many business opportunities, as well as opportunities to improve their skill set, products and services.”

Lim said Penang and business events players must know how to grow the industry and sustain the business.

“We have to know our strengths and anticipate the problems that can arise. We will have intense competition, but the industry will have the undivided support of the state government.

“We are a state that gets things done, and quickly. We will do our best to achieve this.”

PCEB chief executive officer Ashwin Gunasekeran said Penang had started to move beyond its borders, both in business and the conference, which was attended by more than 200 participants today.

As Penang hosts more international conferences and events, BE @ Penang 2017 is growing into a regional conference featuring international speakers, including keynote speaker Roy Sheppard, a well-known international conference facilitator and moderator.

During his talk on empowering the Penang business events industry to act both independently and collectively, the former BBC broadcast personality said “Team Asia” was the future.

“You are all part of a bigger team,” he said, adding how attractive Asia was to the rest of the world.

“From the Western perspective, Asia is exotic, a desirable place to visit. I love the energy in Asia. You have sunshine when we have frost.

“But, you just quietly accept that this is just the way you do things.”

Citing Vienna Convention Bureau director Christian Mutschlechner, who is skilled in building relationships and working with his own competitors to develop the meetings industry, as an example, Sheppard advised participants to always look for opportunities for others.

“If you do that, you will grow the power and increase the magnetic field of Penang and the region… Think differently, and you will massively increase the numbers.”

BE @ Penang 2017 ends tomorrow. – December 7, 2017.