KEC Medina: Wanted - Malaysian partners

source: BusinessTimes By Azlan Abu Bakar alan@nstp.com.my
KNOWLEDGE Economic City Developers Co Ltd (KECD) is in talks with Malaysian companies to rope them in as partners and long-term investors for the US$8 billion (RM26 billion) Knowledge Economic City (KEC) development in Medina, Saudi Arabia.
Its chief executive officer Tahir Mohammed Bawazir said the company has identified several interested parties and hopes to conclude some deals soon.
"We plan to leverage on the expertise of Malaysian companies from various sectors and hope more will come in as partners and investors," he told Business Times in Kuala Lumpur.

Tahir said that as the project develops, KECD will continue to seek investors, partners and sub-developers as well as establish joint ventures with strategic partners to develop and operate key component areas.
Since its launch in 2006, KECD has signed memorandums of understanding and contracts with several Malaysian companies and the government.
They include Malaysian Multimedia Development Corp, HELP University College, Multimedia University and, the latest, iTopia Sdn Bhd.
Consultancy contracts have been awarded to MSC Technology Centre.
"The project is expected to bring about 10 billion Saudi riyal (RM9 billion) a year into the region once it is completed by 2020," Tahir said.
The KEC is one of four economic cities being developed in Saudi Arabia to boost regional development by focusing on intellectual property, knowledge-based, medical, hospitality, tourism and multimedia industries.
Other economic cities being developed by the Saudi Arabian General Investment Authority are the King Abdullah Economic City, Prince Abdul Aziz ibn Musaed Economic City and the Jizan Economic City.
The five million sq m KEC includes a theme park, educational institutions, integrated hospitality complex (with private medical centre, nursing and medical schools, senior assisted living community), residential, commercial and retail components.
"KEC Medina aims to utilise Saudi Arabia's second competitive advantage after energy - its strategic location as a link between East and West," Tahir said.
The project is expected to create more than 20,000 jobs and accommodation for about 150,000 people.

11th MSC-IAP Meeting: Abdullah Wants IAP Members To Look Into Food Production

source: bernama via msc malaysia

KUALA LUMPUR, May 17 (Bernama) -- Prime Minister Datuk Seri Abdullah Ahmad Badawi today urged the Malaysian International Advisory Panel (IAP) to consider the role of new technologies, innovation and applications in helping to increase food production and enhance the management of food and energy resources. "Given the current global economic scenario, with the world average food prices going up by 75 per cent since 2000, I feel it is perhaps the most opportune time to put Information Communication and Technology (ICT), agriculture and biotechnology to work to overcome some of the challenges that Malaysia and the rest of the world are currently facing," he said in his opening speech of the 11th Malaysia IAP Meeting held here. The prime minister said a flagship application which combined efforts in agriculture and biotechnology, along with advances in ICT, could be undertaken if there was enough interest.

"Perhaps, these could be the area of discussion and I invite IAP members to give their views on this," he said.

Abdullah said the Malaysian government will continue to build its strength by continuing to undertake sound economic policy management as well as diversifying the economic sector and our export destinations.

"Domestic demand constitutes about 87 per cent of total Gross Domestic Product (GDP), boding well as a cushion against the negative effects of an increasingly unstable global economy.

"My government is committed to moving the Malaysian economy up the value chain. We will also continue to implement growth-centered as well as people-centered programmes and initiatives under the Ninth Malaysia Plan (9MP)," he said. Meanwhile, Abdullah said the country had achieved much on the ICT front as after 12 years, MSC Malaysia was now home to more than 2,000 companies including home grown companies and multinationals, of which about 100 were leading global companies. "In 2007, MSC-status companies' turnover was approximately RM13.6 billion - an increase of more than 25 per cent compared to 2002.

"MSC Malaysia-status companies are also exporting more with the export figure from 2007 reported to be RM4.9 billion, this represents an increase of more than 40 per cent compared to 2002," said prime minister.

Abdullah said about RM800 million was spent by these companies in Research and Development (R&D) last year, which was more than three times the amount spent in 2002. To date, a total of 2,178 intellectual properties (IPs) of various kinds had been registered, he added.

WCIT 2008: 16th World Congress on Information Technology - Global Impact of Information and Communications Technology

16th World Congress on Information Technology
Global Impact of Information and Communications Technology: Enable Businesses, Empower Societies, Enrich Economies