Malaysia Vision Valley To Draw RM290 Billion In Investments

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PUTRAJAYA – The development of the world class metropolis, Malaysia Vision Valley (MVV) in Negeri Sembilan, is expected to attract more than RM290 billion in investments and transform the lives of millions of people in Negeri Sembilan, says Prime Minister Datuk Seri Najib Tun Razak.

MVV which would be developed over 153,000 hectares, would encompass the Seremban and Port Dickson districts in Negeri Sembilan.

The project, which would also be located near the huge population in Greater Kuala Lumpur, would be developed in phases until 2045, he said.

Najib, who is also Finance Minister, said the MVV would be developed into five clusters namely the Central Business District, Nature City, Edu-Tech Valley, Tourism and Wellness and New Liveable Township.

“MVV will be a well planned development, continuous and inclusive. It will ensure that all levels of society will benefit from the development,” he said, adding that the massive project would be a public-private partnership initiative.

Najib was speaking to reporters after witnessing the signing of a head of agreement comprising three entities which are jointly spearheading the ambitious corridor.

The three parties are Sime Darby Bhd, which will take a 50 per cent stake in the venture followed by Kumpulan Wang Persaraan (KWAP) and Malaysian property firm, Brunsfield International Group, which would hold 25 per cent each.

The Master developer for the MVV project is Malaysia Vision Valley Holdings Sdn Bhd.

Najib said MVV would focus on four main development thrusts – high-technology manufacturing, tourism and wellness, skill-based education and research, and specialised services, in line with the National Key Economic Areas outlined in the National Transformation Programme.

He said MVV’s 30-year development would involve eight projects, such as the High Tech Park and Industrial Campus, Integrated Transport District, Sports and Recreational City, World Knowledge City, Biopolis and Wellness City, and the Tourism District which would create 1.38 million job opportunities.

Meanwhile, Najib emphasised that the people s needs would be taken into account, although MVV s development would be in accordance with metropolis standards.

“MVV will provide affordable housing, built over 404 hectares, as well as, public amenities, recreational facilities and a green lung all sprawled over another 404 hectares,” the prime minister said.

Najib said MVV would have an integrated high-speed rail transportation hub in Labu, Negeri Sembilan, which will connect MVV to KLIA, Bandar Malaysia and Singapore.

“This hub will have a comprehensive public transportation network which would be user-friendly,” he said.

Meanwhile, Najib said the RM560 million Eleventh Malaysia Plan had approved the construction of a road network system in the MVV.

“Several other projects like the highway network and integrated high-speed rail service to connect to surrounding areas in KLIA were also under consideration,” he said.

Meanwhile, Negeri Sembilan Menteri Besar, Datuk Seri Mohamad Hasan, when met by reporters, said the MVV development would be launched globally between July and August this year or after the SEA Games, depending on the Prime Minister s schedule.

“MVV represents a unique project without the involvement of customary rights land but privately owned land.

“In fact, there will not be any relocation of residents for this project, however, the residents surrounding the MVV are expected to get the spillover effect from the appreciation of land value.

“This will be good for the people in the state as all this while people from other states have been saying that the real estate market in Negeri Sembilan is ‘cold’, he said.

— BERNAMA