Kuala Lumpur City Hall has signed a Letter of Intent (LoI) with Hangzhou Municipal People’s Government, focusing on Smartup City Connect cooperation.
Minister in the Prime Minister’s Department (Federal Territories) Dr Zaliha Mustafa said the collaboration is a historic moment for Malaysia and the People’s Republic of China as this is the first inter-city collaboration between the two countries focusing on the startup industry.
Based on the rapid development of the start-up industry in China, the sharing of joint knowledge and expertise especially in the field of technology and innovation will provide added value that will benefit Malaysia.
“This LoI will provide long-term benefits to both cities and will help further increase investment and provide ample opportunities for high technology exchange, especially in the field of artificial intelligence (AI) and the development of startup company ecosystems between Malaysia and the People’s Republic of China.
“This LoI will also open important prospects for entrepreneurs and communication technology players in both countries to continue to innovate and advance technology,” she said in a statement today.
The LoI will also focus on areas like economic and trade cooperation, smart city programmes, e-commerce, startup ecosystem development, and AI regulatory framework.
Commenting on the KL20 Summit 2024, she said that the summit gave an advantage to the Federal Territories, especially Kuala Lumpur, to achieve progress and prosperity of the capital city through physical development, socioeconomics, planning control, and municipal services in a planned and coordinated manner based on excellent governance.
