Editor’s Note
This article highlights a key government initiative to modernize Malaysia’s gold industry through collaboration between policymakers and businesses. The minister’s call for upgrading value chains reflects a broader push toward high-value economic sectors.
(Kuala Lumpur, Feb 4) Minister of Entrepreneur Development and Cooperatives, Shen Zhiqiang, stated that his ministry is willing to collaborate with over 300 large, medium, and small gold industry players and related businesses to strive for the modernization, integration, and development of a high-value-added ecosystem for the industry.
He said that if the gold industry fails to upgrade and enhance its added value, its development achievements will be limited.
Speaking at the dinner of the 2026 3rd Malaysia Gold Conference last night, Shen Zhiqiang noted that Malaysia is currently the world’s 14th largest exporter of gold jewelry, with demand for gold bars and coins ranking among the top five globally. These achievements were made against the backdrop of high gold prices in recent years.
He said that without dedicated efforts to drive industry upgrading, the industrial chain would remain fragmented, systems would still lack integration, and the traditional artisan system would urgently need modernization and professional transformation.
He expressed that the declaration by Wong Chun Ho, President of the Malaysia Gold Association, resonated deeply with him:
Shen Zhiqiang also cautioned that a few weeks ago, the gold market, especially gold prices, had hit record highs. However, last Friday saw a sudden and drastic market shift with high volatility. Accompanying this, gold-related scams may become increasingly rampant.
The conference also announced that the “Platinum Sponsor” of this Gold Conference, Public Gold, has entered the Guinness World Records for deploying the largest number of Gold Automated Teller Machines (ATMs)—165 units—across Malaysia, Indonesia, and the Dubai region.
Datuk Seri Wong Chun Ho, who is also the President of the Malaysia Gold Association and the Founder & Executive Chairman of Public Gold, along with his wife Datin Seri Lim Chee Ting, a Director of the Public Gold Foundation, received the certificate on behalf of the company from the official Guinness World Records adjudicator, Emi Saito.
