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Plan for Malaysia Vision Valley 2.0 unveiled

Pic Credit: The Edge Markets, News Article

According to a recent report, a Malaysian Minister has unveiled a comprehensive development plan (CDP) for Malaysia Vision Valley 2.0 (MVV 2.0), a state-led private sector-driven development that spans across 153,411ha in Seremban and Port Dickson.

In a joint statement yesterday, the Negeri Sembilan state government and Sime Darby Property Bhd said the CDP defines the growth development plan for MVV 2.0, along with its catalytic development focus, economic and social benefits, and sustainability and environmental aspirations.

The CDP also prioritises various aspects of economy, environment and social development within the MVV 2.0 development area.

According to the Negeri Sembilan government and Sime Darby Property, MVV 2.0 aspires to deliver economic impact on Malaysia by bringing in international and local investors, creating job and business opportunities.

The Minister also launched the publicity for the MVV 2045 local plan that sets out land use zoning and development initiatives to take MVV 2.0 forward.

It also consists of action plans for the enhancement of the environment, accessibility, infrastructure, liveability and industries within the MVV 2.0 development region.

The Minister noted that the preparation for MVV 2.0 is inclusive as it provides an opportunity for the surrounding communities to give their views and ideas for the overall planning of MVV 2.0.

As master developer of MVV 2.0, the property arms massive firm plans to develop a high-technology and industrial park within the development, the first of six projects identified under the first phase.

Sime Darby Property currently owns 2,838 acres (1,148.5ha) within MVV 2.0 and has the option to acquire another 8,796 acres from Sime Darby Bhd within five years from the date of its listing. The first phase of MVV 2.0 spans over a 30-year development period covering 27,000 acres.

It was noted that the development plans have been restructured to enhance some of the major project development clusters to promote high-tech investments which are aligned with national aspirations. The projects undertaken will serve as catalysts to the development of MVV 2.0.

It was also noted that it is also aligned with the 11th Malaysia Plan Mid-Term Review where emphasis will be given to the high-tech industry segments which also cover the aerospace industry.

The state government and a subsidiary of the property arms firm also signed a memorandum of agreement yesterday, which forms the basis for the continuity of the roles and functions of the property arms firm and the Negeri Sembilan government, through MVV Secretariat, in MVV 2.0.

It was noted that property arms firm will be undertaking this project as the master developer, which will allow it to extract and enhance the value of Malaysia’s land bank within the MVV 2.0 development area, according to the chairman of the master developer.

Finally, it was added that the master developer will take on key projects that will become among the principal drivers of the country’s future economic growth and social development. The company’s significant role in MVV 2.0 is a continuation of its commitment towards the development of Negeri Sembilan.

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