The Department of Economic Development has today signed a Memorandum of Understanding (MOU) with the Zhongguancun Boya Multimedia Creative and Innovation Park (ZBMCIP).
In 1988 ZBMCIP became the first state-level high-tech industrial development zone authorised by the Chinese State Council. Today ZBMCIP occupies 95 hectares and, along with neighbouring sister parks, is known as the "Silicon Valley" of China.
On Friday 8th July, Minister for the Department of Economic Development Laurence Skelly MHK and Director of the ZBMCIP Ms Zhang Wenning met to sign the agreement.
The Minister commented:
'This is another important step forward in solidifying our relationship with China and its regions. ZBMCIP is a region with over 20 years development and over 1,000 high-tech companies covering the next generation of those in internet, mobile communication, e-pay, animation and games and so much more.
'Signing the MOU is another outcome of our work in April promoting the Isle of Man in China to business and political leaders. The MOU gives us the opportunity to work together for the long term to introduce our businesses in our respective regions and provide wider commercial opportunities to engage.'
Under the terms of the MOU, ZBMCIP will promote the Isle of Man in their region as a base for companies seeking to expand into the West as well as assist any Isle of Man companies looking for joint ventures or to establish themselves in China.
In return, the Isle of Man Government will assist companies from Zhongguancun wishing to locate to the Island and take advantage of our advanced e-business and ICT communications infrastructure and growth opportunities in this area.
