Sign up | Log in



Home  >>   Daily News  >>ā¸ērunei>>Economy>>Brunei keen to attract more FDIs to diversify economy
NEWS UPDATES Asean Affairs    22  July  2016  

Brunei keen to attract more FDIs to diversify economy

BRUNEI is committed to attracting more foreign investments and developing its private sector to diversify the economy.

In a speech delivered at yesterday’s Brunei-Korea Investment Promotion Forum, Dato Paduka Dr Hj Mohd Amin Liew Abdullah, deputy minister of finance and chairman of the Brunei Economic Development Board (BEDB), said Brunei has “entered into a new phase” of economic development with renewed efforts to move away from the oil and gas based economy.

“The focus is on industries that can capitalise on the country’s strengths and have the ability to grow the economy while providing quality and sustainable job opportunities,” he said.

He said the establishment of the Foreign Direct Investment and Downstream Industry Committee will streamline approval process for foreign direct investments (FDIs).

Dato Dr Hj Mohd Amin said several reforms have been implemented to cut red tape. These include the creation of an online business registration system which allows a business to be set up within 24 hours and the establishment of Darussalam Enterprise (DARe), a statutory body that aims to grow local enterprises.

His Majesty Sultan Haji Hassanal Bolkiah Mu’izzaddin Waddaulah, the Sultan and Yang Di-Pertuan of Brunei Darussalam has also called for renewed efforts to improve Brunei’s exports through sectors such as agriculture, fisheries, halal products, technology, creative industries, logistics, tourism and downstream oil and gas.

He said Brunei’s Ease of Doing Business ranking has improved to 84th from 105th thanks to business reforms that were implemented recently. Brunei will continue to improve its ranking by promoting a more favourable business environment.

Kim Young-sun, secretary general of the Seoul-based ASEAN-Korea Centre, said Brunei has certain advantages in ICT, citing the presence of two major telecommunication cables.

He also said Brunei’s organised guidelines on halal goods is advantageous to the beauty industry.

Kim said Brunei’s community-based tourism is helping Korean visitors broaden their understanding of the sultanate.

“I believe that the relationship between Korea and Brunei will be heading to a brighter future,” he said.

Kim is leading a delegation comprising officials from the ASEAN-Korea Centre and Korean investors who want to explore opportunities in biotechnology, cosmetics, ICT and e-commerce.

A two-day programme, which will end today, was jointly organised by the ASEAN-Korea Centre, the Energy and Industry Department at the Prime Minister’s Office (EIDPMO), BEDB and the Ministry of Foreign Affairs and Trade.

Also present during the event was Adi Shamsul Hj Sabli, Permanent Secretary of Industry at EIDPMO and Cho Won-Myung, Korean Ambassador to Brunei, along with other senior officials.

Reach Southeast Asia!
10- Nations, 560- Million Consumers
And $1 -Trillion Market
We are the Voice of Southeast Asia Media Kit
The only Media Dedicated to Southeast Asia Advertising Rates for Magazine
Online Ad Rates

Comment on this Article. Send them to

Letters that do not contain full contact information cannot be published.
Letters become the property of AseanAffairs and may be republished in any format.
They typically run 150 words or less and may be edited
submit your comment in the box below

Today's  Stories                           July 22, 2016 Subsribe Now !
• PM okays exceptions for Ha Noi railway  Subcribe: Asean Affairs Global Magazine
• Brunei keen to attract more FDIs to diversify economy 
• City calls for more investment from Singapore
Research Reports
on Thailand 2007-2008

• Textiles and Garments Industry
• Coffee industry
• Leather and footwear industry
• Shrimp industry

• Life insurance market to take on new player
• Singapore-U.S. Relations to Set Pace for Twenty-first Century U.S. Engagement in Southeast Asia
Asean Analysis                  Jully 22, 2016
• Asean Analysis July 22, 2016
‘Singapore-U.S. Relations to Set Pace for Twenty-first Century U.S. Engagement in Southeast Asia
Advertise Your Brand

Asean Stock Watch   July  22, 2016
• Asean Stock Watch-July 22, 2016
The Biweekly Update
• The Biweekly Update  July 22, 2016

ASEAN NEWS UPDATES      Updated: 04 January 2011

 • Women Shariah scholars see gender gap closing
• Bank Indonesia may hold key rate as inflation hits 7 percent
• Bursa Malaysia to revamp business rules
• Private property prices hit new high in Singapore • Bangkok moves on mass transport
• Thai retailers are upbeat
• Rice exports likely to decline • Vietnamese PM projects 10-year socioeconomic plan


This year in Thailand-what next?

AseanAffairs   04 January 2011
By David Swartzentruber      

It is commonplace in journalism to write two types of articles at the transition point between the year that has passed and the New Year. As this writer qualifies as an “old hand” in observing Thailand with a track record dating back 14 years, it is time take a shot at what may unfold in Thailand in 2011.

The first issue that can’t be answered is the health of Thailand’s beloved King Bhumibol, who is now 83 years old. He is the world's longest reigning monarch, but elaborate birthday celebrations in December failed to mask concern over his health. More






1.  Verifier

1. Verifier

For security purposes, we ask that you enter the security code that is shown in the graphic. Please enter the code exactly as it is shown in the graphic.
Your Code
Enter Code

Home | About Us | Contact Us | Special Feature | Features | News | Magazine | Events | TV | Press Release | Advertise With us

| Terms of Use | Site Map | Privacy Policy  | DISCLAIMER |

Version 5.0
Copyright © 2006-2017 TIME INTERNATIONAL MANAGEMENT ENTERPRISES CO., LTD. All rights reserved.
Bangkok, Thailand