Malaysian Investment Development Authority inks MoU for collaboration on KLIA Aeropolis and Subang Aerotech Park initiatives
The Malaysian Investment Development Authority (MIDA) inked a Memorandum of Understanding (MoU) with the Malaysia Airports Holdings Berhad (MAHB) to further collaborate in the promotion and facilitation of activities relating to the KLIA Aeropolis and Subang Aerotech Park development.
The signing of the MoU was done by MIDA Deputy CEO Datuk N. Rajendran and MAHB acting Group CEO YM Raja Azmi Raja Nazuddin at the MIDA headquarters.
MIDA is the government's principal promotion agency under the Ministry of International Trade and Industry (MITI) to oversee and drive investments into the manufacturing and services sectors in Malaysia. MIDA continues to be the strategic partner to businesses in seizing the opportunities arising from the technology revolution of this era.
Malaysia Airports is one of the world’s largest airport operator groups in terms of number of passengers handled. It manages and operates 39 airports in Malaysia and one international airport in Istanbul, Turkey. The 39 airports in Malaysia comprise of five international airports, 16 domestic airports and 18 Short Take-Off and Landing Ports.
According to the report made by Bernama, the main objective of the MoU is to explore potential areas of collaboration between MIDA and Malaysia Airports in order to facilitate foreign direct investments into Malaysia through the promotion and implementation of investments that would achieve value to the national economy.
The first focus will be on the KLIA Aeropolis, a flagship airport city development within the 100-square kilometre of KLIA land in Sepang, Selangor. The second focus will be on the implementation of the Subang Airport Regeneration Initiative.
KLIA Aeropolis is centred around three core clusters: Air Cargo & Logistics; Aerospace & Aviation; and Meetings, Incentives, Conferences and Exhibitions (MICE) & Leisure. It shall focus on the off-terminal real estate development that is synergistic with Malaysia Airports' existing airport operations.
For the Air Cargo & Logistics cluster, a 60-acre of land for the ASEAN regional e-Commerce with Cainiao will be developed. This is set to double KLIA's air cargo volume from 0.7 million tonnes per annum to 1.3 million tonnes per annum by 2028.
KLIA Aeropolis is expected to additional passenger and cargo traffic to KLIA which will contribute to the global competitiveness of Malaysia by enhancing activities centred on increasing connectivity.
The Subang Airport Regeneration Initiative, which is a strategic initiative to revitalise the Subang Airport ecosystem is being embarked on by the Malaysia Airports. The Subang Airport is being envisioned as a vibrant city airport, a hub for business aviation and a complete aerospace ecosystem.
The Subang Aerotech Park has been identified as a key catalyst to the aerospace sector in Malaysia and being positioned to be the leading aerospace hub within South East Asia. Among its strategic advantages are its growing ecosystem maturity, vicinity to the KL city centre, excellent transport network, highly accessible amenities and an urban population supplying ready-manpower.
Raja Azmi said that a projected 5,000 high-value jobs will be created upon completion of the regeneration initiative at Subang Aerotech Park.
Both the KLIA Aeropolis and Subang Airport Regeneration Initiative shall be carried out in alignment with Malaysia Airport's goals and aspirations in championing the Industry 4.0 principles. The two projects will implement state-of-the-art facilities and advanced technologies such as automated and digitised facilities systems, green technology, and high-specification build-to-suit facilities to be integrated within a synergistic ecosystem development.
Datuk N. Rajendran shared that MIDA acts as a conduit by working with entities such as MAHB to bring together the industry and other stakeholders to create fresh and exciting collaborations. The Agency is confident that these efforts will contribute in the long term to provide an environment for businesses to thrive.
He added that having the right infrastructure and facilities in place in order to cater to the requirements of businesses and can provide quality business and job opportunities to Malaysians.
He concluded that both MIDA and MAHB will gain from this partnership. MIDA will be able to better facilitate the interest of the investors while MAHB will be able to leverage the close relationship MIDA has with the industries. This collaboration is expected to translate to more investments coming in to Malaysia, particularly for the logistics and aerospace industries.
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