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Last Updated: Jun 25th, 2007 - 17:07:26 |
M'sia Hitech Park In UAE Expects To House 200 Entrepreneurs
From Nasriah Hj Darus
DUBAI, Sept 13 (Bernama) -- Malaysia Hitech Park, a complex to be built in Ajman, United Arab Emirates, is expected to provide special retail space for Malaysian Bumiputera companies producing halal food products with the aim of penetrating the West Asia market.
Once completed, the complex is expected to house about 200 retailers, beginning mid 2008.
Based on a South Korean concept for small and medium industries (SMIs), the technology park is to be managed by South Pacific Venture FZC (SPV), a 51 percent Malaysian Bumiputera-owned company based in Dubai.
Its managing director Muda Mahmud said that the park, comprising a 12-storey building worth 650 million dirham (excluding the value of land), would house all the Bumiputera entrepreneurs in a complex which would provide retail and exhibition space as well as factory.
He said his company would manage the complex and select 200 Bumiputera entrepreneurs interested in setting up their base here in order to venture into the West Asia market.
"We would provide the logistics. The raw materials would be sourced from here as they are available in abundance here and are also cheaper compared with when brought in from Malaysia. The food stuff sold here are expensive because of the high rental cost here. The cost of labour would also be cheap," he told Malaysian journalists after a signing ceremony Tuesday for the building of the Malaysia Hitech Park.
The agreement was signed by SPV's chairman, Shams Kanani, and the Ruler of Ajman, Sheikh Hunaid Al Nuami. The signing was witnessed by Minister of Entrepreneur Development and Cooperatives Datuk Seri Mohamed Khaled Nordin.
Mohamed Khaled is currently heading a trade delegation to West Malaysia. Also in the agenda of the mission is the participation of Malaysian Bumiputera entrepreneurs in the Dubai International Halal Exhibition (Dihas) 2006 which starts here next Monday.
A total of 20 Malaysian companies are taking part in the event which would also see the participation of 17 other countries. Following the three-day event, Mohamed Khaled would be leaving to Iran.
Speaking at the signing ceremony, Mohamed Khaled said that the Malaysian government greatly encouraged Malaysian entrepreneurs to venture into the international markets.
The building of the new complex is expected to help Bumiputera entrepreneurs to venture into the West Asia market more easily.
He also expressed hope that the partnership between the two countries would further strengthen ties between them, both of which are members of the Organisation of Islamic Conference (OIC) and the Non Aligned Movement (NAM), while increasing the number of Malaysians trading in UAE.
Shams Kanani in his speech meanwhile said that SPV had selected Ajman, one of the seven emirates of UAE, as the location for the complex due to its high supply of raw materials, its competitive and good number of human resources and the smooth processes for obtaining business permits, visas and work permits.
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