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PETALING JAYA: The Malacca state government has secured seven memorandums of understanding (MoU) at Expo 2020 Dubai worth at least RM5 billion, a major boost to the state’s economy.
Its presence at the world’s largest expo saw the state winning firm commitments from the developer of Melaka Gateway to forge ahead with its plans to develop three projects on reclaimed land in the heart of Malacca.
For the state government, the deal to revive the stalled Melaka Gateway project marks a major step forward to expedite the development of Melaka Waterfront Economic Zone or M-WEZ, an economic corridor.
Malacca Chief Minister Datuk Seri Sulaiman Md Ali and KAJ Development chairman Datuk Daing A Malek Daing A Rahaman witnessed the signing and exchange of the seven MoU.
The first MoU was signed between MG Velocity Sdn Bhd, a nominee of KAJ, with X Infinity Property Sdn Bhd and Total Group Bhd for the development of the Melaka International Cruise Terminal (MICT). A RM1.5 billion investment will be channelled into the development of the cruise terminal on island PME1 of Melaka Gateway. The terminal will house customs, immigration and quarantine facilities, duty-free shopping mall, retail space and a luxury hotel. X Infinity Property and Total Group are involved in property development and investment holding respectively.
The second was signed between KAJ with Assetwall Sdn Bhd for the development of a world-class theme park offering 24 rides and attractions on 36 acres of land on island PME1 of Melaka Gateway. The theme park, involving an investment of RM1.5 billion, is targeted to be completed in early 2026. Assetwall is an investment holding company.
The third MoU was signed between KAJ and Dubai Integrated Economic Zones Authority, a government of Dubai authority and operating through its business division Dubai Airport Free Zone. The collaboration will look into the investment and operation of the proposed free trade zone on island PME1 of Melaka Gateway with a RM2 billion initial investment.
The fourth MoU was between Melaka ICT Holdings and Microsoft Corp Malaysia. The tie-up between the Malacca government company and the US tech giant is aimed at supporting the state’s digital transformation initiative.
The fifth MoU was between Canadian University Dubai (CUD) and Malaysia Multimedia University (MMU), which has a big campus in Malacca. CUD and MMU will explore cooperation in areas such as exchange of students, academicians, and non-academicians, programme collaboration in areas of mutual interest such as in the area of digital and technology and research collaboration and training in the fields of mutual interest to both universities.
The sixth MoU was between the Malaysian Association of Tour and Travel Agents Malacca Chapter and the Middle East Consortium Group, Global Travel Services to boost travel and tourism between the two regions.
The seventh MoU was between NRB Food Industries and 3Bumi Sdn Bhd to provide opportunities for the trading and distribution of food products to the Gulf Cooperation Council, North Africa, and the Middle East.
