Share
- SGPA is also committed to establishing Pentas as Malaysia’s first generation-five industrial park.
SHAH ALAM (Sept 17): The AREA Group said it will continue to provide advisory services to a collaboration that creates bilateral cooperation and ecosystem frameworks for the implementation of the US$20 billion (RM83.83 billion) China-Malaysia “Two Countries, Twin Parks” initiative by the Shenzhen Government Procurement Association (SGPA).
According to a press statement issued today, the initiative is aimed at developing 1,500 acres of industrial land at Pentas Industrial City (Pentas) within the Delapan Special Border Economic Zone (SBEZ) ecosystem in Kedah.
“We are pleased to announce that we have undertaken the role as an advisor for the design, funding, and development of Pentas Industrial City. The Pentas Industrial City is a 1,500-acre industrial area within the 4,400 acres Delapan SBEZ,” said AREA Group executive chairman Datuk Stewart LaBrooy in the statement.
On Sept 12, SGPA signed a bilateral cooperation agreement with Northern Gateway (NGX) and an ecosystem framework agreement with Standard Perpetual Global OFC (SPG), China Sea Alliance Service Limited (CSA) and NGX. These agreements will help formalise the next stage for the development of the 1,500 acres generation-five industrial park, thus replicating the internationally known Shenzhen Industrial Park.
The purpose of these agreements will also be to promote the coordinated industrial development between Chinese enterprises and Delapan SBEZ. The generation-five industrial park will be developed on the “Two Countries, Twin Parks” framework to promote bilateral industrial, technological, and economic cooperation between China and Malaysia.
SGPA is also committed to establishing Pentas as Malaysia’s first generation-five industrial park. This would involve the incorporation of smart infrastructure, integrated IoT systems, sustainable energy solutions and a circular economy model that prioritises efficiency and environmental sustainability.
“These two agreements represent a single, powerful message that Chinese investments in Malaysia are entering a new strategic and high-value phase,” LaBrooy said.
He added that the collaborations would generate employment, foster knowledge transfer, and enhance Malaysia’s export and industrial capabilities.
Objectives of the bilateral cooperation include deepening industrial and technological collaboration, accelerating job creation, enabling technology transfer and building a new Asean supply chain ecosystem anchored in Malaysia.
The agreements also aim to attract investments from Shenzhen and the Greater Bay Area in China while contributing to Malaysia’s GDP and tax revenues.
In April, AREA Group led a Malaysian delegation, including senior representatives from Permodalan Nasional Bhd, Invest Kedah Bhd, Invest Selangor Bhd, the Malaysian Investment Development Authority and other federal and state stakeholders, to study the Shenzhen Park ecosystem.
The delegation visited the China Development Institute and several industrial parks, and met with Chinese business leaders during a three-day programme coordinated by SGPA.
As Penang girds itself towards the last lap of its Penang2030 vision, check out how the residential segment is keeping pace in EdgeProp’s special report: PENANG Investing Towards 2030.
