Indian investors to seek biz opportunities in Brunei
BANDAR SERI BEGAWAN
A HIGH-LEVEL business delegation from the Confederation of Indian Industries will visit Brunei later this month to seek opportunities for joint ventures in pharmaceuticals, energy and IT services, said the Indian High Commissioner Nagma Mohamed Mallick.
“There is continuing interest from the Indian business community in the business opportunities that Brunei offers,” Mallick told _The Brunei Times _in a recent interview.
“The delegation will include entrepreneurs from the pharmaceuticals, oil and gas, oil field support services, healthcare, IT and alternative energy sectors. I hope that I can facilitate mutually beneficial business relations between our investors and entrepreneurs.”
She said that the sultanate’s central location in Southeast Asia makes it an attractive investment destination and could be a transport and shipping hub.
“It’s central location in the eastern ASEAN area, its status as a founding member of regional trading agreements like ASEAN, TPP, and it’s just reputation for peace and tranquility – I hope Indian investors will take advantage of these factors.”
With the Indian economy averaging around seven per cent annual growth for the past three years, Mallick said there is enormous potential for Bruneian investors.
“India is set to rapidly expand its physical and energy infrastructure in the next few years in which sectors foreign investments will yield excellent returns. I believe that there are good opportunities for Brunei, both the government and the private sector, to invest in India now.”
The envoy also singled out pharmaceuticals, engineering goods, chemicals, textiles and agro-products as potential exports to Brunei. Services in ICT, health, banking and finance, are also becoming more attractive to international businesses, she added.
“I believe there is enormous potential to deepen our trade and investment ties. The Indian economy is today the fastest-growing large economy in the world, a radically-liberalised foreign direct investment policy, thanks to which India is now rated a top FDI destination in the world.”
The Brunei Times