As Penang progresses through the 21st century it is well positioned to act quickly to pursue new industries and technologies that may help the Penang economy.
Penang has a history of reinventing itself successfully and keeping abreast of future change in the business world will likely mean it will have to reinvent itself many times in the future to keep the Penang economy on an even keel.
Who knows, maybe one of the SME's in Penang will become the next Asian global conglomerate, from little acorns grow giant oaks and Penang businessmen certainly have both the desire and the ingenuity to nurture small acorns.
The Second Penang Bridge will provide welcome relief to motorists but while the building continues so too does the property speculation on the island with prices on the mainland not yet reflecting such stellar increases.
The bridge on its own will not deliver economic progress without the infrastructure being improved on the island to suit the future growth prospects of Penang.
Being part of the legendary Spice Trade Route Penang business is entrenched in the history of commerce.
In every corner of Penang you will see rows of small shoplots containing these ambitious business people all branching out to live the dream and maybe boost the Penang economy.
All business needs an efficient logistics network and DHL having recognised this have invested in their fourth facility in Penang with their Central Cargo Hub located on the east side of Penang airport.
The freight management services of its global forwarding business should be given a timely boost with this latest addition of value added services to benefit customers.
Penang Port is to benefit from the dredging of the north channel to help it accept bigger ships in the future and it has also increased the berthing capacity of the North Butterworth Container Terminal in an effort to facilitate faster vessel operations.
Meanwhile the ongoing work on the first phase of the Penang Sentral project in Butterworth comprising an integrated transportation hub with a retail component is scheduled for completion in 2013.
The second and third phases of the Penang Sentral project have yet to start but it is planned for a commercial hub including office towers, apartments, a hotel and a waterfront to be proud of all set for completion by 2020.
January 2013 saw the completion of Penang airport RM250 expansion with increases in passenger processing capacity from 1300 passengers to 2000 per hour.
The terminal has also increased its floorspace, baggage carousels and the car park capacity has increased from 800 to 2000 in preparation for the anticipated increase in air traffic that will flow.
Emulating The Spice Trade Route Days
To this day the ambition of many young Penangites is to become a successful businessman and the State is covered with thousands of SME's all eager to achieve their aspirational dreams of success.
Penang Port is a busy hub of activity delivering goods all over the world with many being manufactured in the Bayan Lepas Free Trade Zone (FTZ) by large corporations such as Dell, Motorola, Automotive Lighting, Intel, Braun and many more household names.