Setia Haruman inks MoU with Shanghai government unit

CYBERJAYA: Setia Haruman Sdn Bhd (SHSB) and Shanghai Overseas Affairs Service Center Co Ltd (SOASC) have signed a memorandum of understanding for the development of an integrated entrepreneur park in Cyberjaya.

The project, known as IndaCity Entrepreneur Park with an estimated investment of RM6 billion, covers 103 acres of enterprise and commercial land. The project will be implemented via either an outright purchase of land by SOASC or a joint venture with SHSB, according to a press release by SHSB yesterday.

SOASC is a unit of the Shanghai Municipal Government.

SHSB chairman Tan Sri Mustapha Kamal Abu Bakar said he hoped that the MoU will open doors to economic and cultural collaborations between the two cities via the setting up of the integrated IndaCity Entrepreneur Park, which will attract high-impact companies from China to Cyberjaya.

“I am confident that this project will foster a closer relationship between the two cities,” he said at the signing ceremony yesterday.

SOASC chairman Wang Jie Min, who led the three-member delegation on a six-day working visit to Malaysia, said the visit was a good start in expanding a partnership in tourism, culture and economy

“Looking at Cyberjaya’s world-class infrastructure and conducive ecosystem, which has a concentration of knowledge workers in Malaysia, it will not be difficult for us to attract large enterprises from China, as many of them have plans to venture overseas,” Wang said.

“With the recent launch of the China (Shanghai) Pilot Free Trade Zone in Shanghai, I expect more Shanghai enterprises to invest in Cyberjaya.”


This article first appeared in The Edge Financial Daily, on October 02, 2013.



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