Malaysia - January 2019
A comprehensive development plan (CDP) for Malaysia Vision Valley 2.0 (MVV 2.0) was launched by the Chief Minister of the state of Negeri Sembilan on 13 December, 2018. MVV 2.0 is a state-led private sector-driven development that spans across 153,411 ha in Seremban and Port Dickson, the largest towns in the state.
The CDP defines the growth development plan for MVV 2.0, aims to bring in international and local investors, creating job and business opportunities. As the master developer of MVV 2.0, Sime Darby is planning for the development of a high-tech and industrial park, which is among six projects identified under the first phase.
Sime Darby Property currently owns 2,838 acres within MVV 2.0 and has the option to acquire another 8,796 acres from Sime Darby Bhd, its parent company, within five years from the date of the public listing of the former. The first phase of MVV 2.0 spans over a 30-year development period covering 27,000 acres.
A Memorandum of Agreement (MoA) was signed between the state government, through MVV Secretariat (MVVS) and MVV Holdings Sdn. Bhd. (MVVHSB), a subsidiary of Sime Darby Property in relation to the preliminary development stages of MVV 2.0. Also, a Memorandum of Understanding (MoU) was signed between the Malaysia Green Technology Corporation and the state government via MVVS. Based on the MoU, the parties will collaborate in the implementation in delivering green concepts and green technology enablers for the MVV 2.0 project.
(Sources : The Edge Markets; The Sun Daily; Sime Darby Property)