All abuzz about business

InvestPenang is organising the Penang Biz Buzz: "What's Hips & Happening in SSO Industry" to promote Penang as a Shared Services and Outsourcing (SSO) Hub to attract SSO companies to locate their operations in Penang.

In a press statement, investPenang said the Penang Biz Buzz will be held on Tuesday at the Equatorial Hotel Penang.

”The Penang Biz Buzz is to further showcase Penang’s potential of becoming an SSO Hub for the world.

”The seminar is organised with the support of Multimedia Development Corp (MDeC), Malaysian Investment Development Authority (Mida) and Outsourcing Malaysia,” the statement said.

Penang has received several SSO investments made in the past two years from giants such as Citigroup, US food giant Wilmar, solar company First Solar which has its manufacturing facility in Kulim, and AirAsia.

”In addition, there are continuous expansions of existing SSO companies such as IHS, Atmel, Toll Forwarding and Jurong Shipyard.

”Currently, this sector is employing over 7,000 persons in Penang. The unexpected success has caused Penang to run out of Grade-A office space,” the statement said.

The statement added that the government-private sector pro-business collaboration aims to attract SSO companies to locate their operations in Penang.

“There will also be a seminar to focus on the latest SSO incentives and initiatives that can help grow businesses, promote Penang as a location of choice for SSO investments and to showcase the state as a Business Process Outsourcing–Information Technology Outsourcing Hub.

The speakers will include Special Advisor to Penang Chief Minister Datuk Lee Kah Choon, Mida senior deputy director Zainal Abdul Rahman, MDeC vice-president Michael Warren and Outsourcing Malaysia head Justin J. Anthony.

This article originally appeared on The Star Online on 26 May 2014