SHAH ALAM, Feb 21 — State subsidiary Permodalan Negeri Selangor Berhad (PNSB) has signed a Memorandum of Collaboration (MoC) with three companies to deepen economic and trade cooperation between China and Malaysia, with a focus on Selangor.
The MoC will see PNSB work with China International Engineering Consulting Corporation (CIECC), Fujian CIECC Engineering Consulting Corporation (FJCIECC), and Skymind Holdings Berhad (SKYMIND) to jointly develop the Malaysia Innovation Economy Corridor (MIEC).
Situated in Selangor, the MIEC's primary aim is to catalyse international collaborations and position Malaysia as a hub for technological advancement and economic growth. By enticing international companies to engage in intellectual property transfers and make substantial foreign direct investments within Selangor, it seeks to bolster the state's economic landscape.
CIECC is a Chinese state-owned enterprise involved in mega projects and investments, including the Belt and Road Initiative and Digital China, of which FJCIECC is a subsidiary company. In Malaysia, it is a part of regional projects, including the East Coast Rail Line and the Malaysia–China Kuantan Industrial Park.
SKYMIND specialises in AI technology, having partnered with global industry titans like IBM, Cisco, and Huawei. Its AI deployment platform, trusted by over 80 per cent of Fortune 500 companies, seeks to propel Malaysia onto the global stage by catalysing a transformative convergence of technology and vision.
Positioned as a hub for innovation, MIEC is an ideal setting for research and development endeavours, fostering collaboration and exchanging knowledge. It also aims to position Malaysia as a premier global hub for innovation within Southeast Asia.
The MoC will see all parties involved leverage their respective expertise to assess and determine MIEC's viability, engaging in a comprehensive exploration of various technical, financial, legal, and operational considerations.
