KUALA LUMPUR:  Berjaya Assets Bhd's unit and Foshan City Bureau of Commerce (FCBC) plan to undertake a South East Asia Duty Free Trade City (SEADFTC) project at Berjaya Waterfront, Johor Bahru. 

Berjaya Assets said on Wednesday its unit Berjaya Waterfront Sdn Bhd had inked an MoU with FCBC, which oversees commerce development and management of the government of Foshan City, Guangdong province in China.

Berjaya Waterfront director Datuk Zurainah Musa signed on behalf the company while FCBC was represented by its deputy head  Tong Quanqing. It was witnessed by Berjaya Assets chairman Tunku Datuk Seri ShahabuddinTunku Besar Burhanuddin. 

“The MoU was agreed upon during discussions between officials from Berjaya Waterfront and FCBC when FCBC recently made a trade and investment delegation visit to the SEADFTC project in Johor Bahru which is a planned development project by Berjaya Assets,” it said.

Under the MoU, both parties will establish a framework for collaboration with progressive discussions, exchange of information, and development and investment updates for the relevant commercial initiatives. 

“As Berjaya Waterfront works to introduce new ideas and infuse fresh vibes to SEADFTC, FCBC will come in as a partner instrumental in providing technical support in terms of bringing corporate investments and trading activities from Foshan enterprises to SEADFTC,” said Berjaya Assets. 

FCBC will organise trade visits to SEADFTC to explore and conduct trading and investment activities with the intention of promoting this project as a strategic initiative for Foshan City investors in Malaysia.
 
Berjaya Corporation Bhd group has invested in numerous infrastructure projects in Foshan City in the past few years.