KUALA LUMPUR, July 14: Berjaya Assets Bhd has inked a memorandum of understanding (MoU) with China’s Foshan City Bureau of Commerce (FCBC) to foster trade and investment from Foshan to the Southeast Asia Duty Free Trade City (SEADFTC) project near the Berjaya Waterfront Hotel in Johor Baru.
Under the MoU, the parties will establish a framework for collaboration with progressive discussions, exchange of information, development and investment updates for the relevant commercial activities.
FCBC will come in as a partner instrumental in providing technical support in terms of bringing corporate investment and trading activities from Foshan enterprises to SEADFTC.
Speaking to reporters after the signing ceremony here yesterday, Berjaya Waterfront director Datuk Zurainah Musa said the company has transformed the area into a duty free trade zone by bringing in new trades.
“Berjaya Waterfront is deemed as a free trade zone, so they’re coming here to do the business,” she said, noting that the zone currently has 35,000 sq m of retail space and a hotel.
“Of course in any business that we do, there will always be expansion and that is in the pipeline,” she replied when asked about expansion plans within Berjaya Waterfront.
Given the cordial ties established with the Foshan government and corporate sector over the past few years, FCBC deputy director Tong Quanqing said Berjaya Group has been selected by FCBC as a strategic collaboration partner for Foshan enterprises to trade and invest in Malaysia.
Worth noting is that Berjaya Group has invested in numerous infrastructure and environmental projects in Foshan.
Tong said this MoU also marks another milestone towards enhancing partnership potentials between Malaysian and Chinese business sectors under the “one belt one road” strategy.
Also present at the signing ceremony were Berjaya Group founder Tan Sri Vincent Tan and Berjaya Assets chairman Tunku Shahabuddin Tunku Besar Burhanuddin.