BANDAR SERI BEGAWAN

BRUNEI will continue to prioritise foreign direct investment (FDI) in non-energy sectors, with plans to diversify into food manufacturing and pharmaceuticals.

Dato Paduka Hj Ali Hj Apong, Chairman of the Brunei Economic Development Board (BEDB) and Deputy Minister at the Prime Minister’s Office, said the government has identified key clusters for FDI, including food, pharmaceuticals and cosmetics, renewable energy, data centres and disaster recovery centres.

Utilising Brunei’s reputation for halal expertise, there are great opportunities for manufacturing halal products for export, he said in an interview recently published in the Oxford Business Group (OBG) 2014 country report for Brunei.

According to previous news reports, several countries such as China, Thailand and Chile, have expressed interest in doing joint ventures with Brunei in halal food manufacturing for export to regional markets.

This can also be extended to the pharmaceutical sector, said Dato Hj Ali.

“Building on the success of Simpor Pharma’s halal pharmaceuticals manufacturing plant, the BEDB has continued to pursue opportunities in the life sciences cluster.”

The BEDB has also inked million dollar deals for the construction of steel and aluminum manufacturing plants in the Sultanate.

“These and other ongoing FDI projects, such as the initial phase of the Zhejiang Hengyi refinery and aromatics cracker complex, are expected to create more than 2,000 jobs,” said Dato Hj Ali.

In order to support such export-oriented projects, the BEDB is also prioritising FDI in logistics services.

“Export-oriented industries will be providing the required volumes to enhance the commercial viability of the logistics sector, creating synergy between the two areas,” said the BEDB chairman.

The Brunei Times