Najib officiates signing of MOU on Borneo744 township establishment

PUTRAJAYA: Prime Minister Datuk Seri Najib Abdul Razak today witnessed the signing of the memorandum of understanding (MOU) for the establishment of the first Blue Ocean Entrepreneurs Township (BOET) in Bintawa, Kuching (Borneo744).
The township, which was announced by Najib on April 3, 2016 during the 'Gathering of Rising Entrepreneurs, Act Together' in Kuching, Sarawak, will serve as a hub of creativity and innovation to bring together industry players under one roof to form a more creative working relationship.
Finance Ministry's National Strategy Unit Director, Dr Aminuddin Hassim, and Sarawak Economic Development Corp (SDEC) Managing Director, Soedirman Aini, signed the MOU.
Treasury Secretary-General, Tan Sri Dr Mohd Irwan Serigar Abdullah, said the Borneo744 project would be completed by year-end.
"The government would inject RM20 million to refurbish a 10-hectare old Public Works Department warehouse into a vibrant and attractive township dedicated for the young and youth entrepreneurs," he said.
Mohd Irwan said this to reporters after the signing ceremony.
He said the MOU consisted three components — young entrepreneurs, eateries and sports activities.
"We are using an existing building to refurbish and renovate with a minimal cost, but with great impact and speed.
"In the agreement, it states Borneo744 will be up and running within six months, but we want to do it fast, if possible within four months. That is better and we will push the contractors," he said.
On the first component, Mohd Irwan said, it would comprise entrepreneurship training, a Malaysian Global Innovation & Creativity Centre (MaGIC) Sarawak branch office, and a creative content development centre.
"We want Borneo744 to be catchy and attractive to the youngsters, and we have decided to establish several centres, among others, technology-related fields in order to develop and create more aspiring entrepreneurs," he said.
On the eateries component, Mohd Irwan said, the idea was to create Sarawak local delicacies stalls and famous coffee joints like Starbucks, as a platform for entrepreneurs to scale to greater heights.
Besides extreme sports activities, the Borneo744 would also cater to community activities, he said.
"Once completed, Borneo744 will be a modern, colourful and collaborative town for youths to work, play and eat with their families," he said.
Mohd Irwan said the government was also in communication with interested stake holders in various states to participate in the establishment of the Borneo744 Town.
Meanwhile, in a statement today, the Finance Ministry said BOET was another initiative to strengthen and further complement the national entrepreneurship ecosystem through the National Blue Ocean Strategy (NBOS).
The collaboration between ministry and the SEDC, under the spirit of NBOS, brings forth a platform for entrepreneurs and aspiring entrepreneurs to help them scale greater heights, it said.
It said the inaugural BOET would be a single hub for generating employment and developing new growth business and enrich communities through creative and artistic activities that could translate into commercially viable endeavours. — Bernama