Nov 17, 2011

ASEAN - Asean biz leaders to promote region for investment



Bali, Indonesia (The Brunei Times/ANN) - Heads of investment agencies from the 10 Asean (Association of Southeast Asian Nations) member countries have expressed their commitment to working together in promoting the region as an investment destination.

This the representatives hope would be more effective than solely relying on campaigns to promote individual countries to prospective investors from outside Asean.

During the inaugural Asean Investment Forum here in Bali, Indonesian Vice Minister of Trade Bayu Khrisnamurti who chaired the forum said that all member states have agreed to cooperate in what he described as a common platform of regional promotion.

"They are all very excited, and they are all looking forward to have this cooperation in promoting Asean as a region together. That was the sentiment that has been shared in the table earlier," he said.

The forum is organised as a platform for heads of investment agencies in the region to exchange valuable experience and information concerning the concept as well as practice in investment promotion and facilitation among the Asean member states in the hope that the cooperation strengthens relationships and boosts investment in the region.

"Through this forum, we realised the potential of promoting Asean as a region to investors as opposed to promoting each countries individually can greatly benefit each Asean member states," he said.

"Of course, learning from the experience of Asean, we are still in the very early stages as this is the first such meeting to be held. We have however seen the usefulness of this cooperation, and shared the best practices during the discussion," he added.
He said that Wednesday's discussion will be followed up at the next Asean Investment Forum to be held at the 20th Asean Summit in Cambodia next year.

During the closed-door forum held at the Bali International Convention Centre, investment agency heads from Asean member states discussed and shared their best practices on investment promotion, investment servicing, after-care investment and contemporary investment issues, such as incentives, co-investment and public-private partnership (PPP).

The forum aims to build the capacity of the investment agencies in enhancing the investment climate in the region towards the creation of free flow of investment in order to achieve an Asean single market and production base as part of the regional grouping's commitment to the Asean Economic Community (AEC) 2015.

The forum was officially launched by Indonesia's Minister of Trade and Chairman of Indonesia Investment Coordinating Board (BKPM) Gita Wirjawan.

Representing Brunei during the forum were officials from the Brunei Economic Development Board (BEDB).

Al-Haadi Abu Bakar in Bali//The Brunei Times | ANN



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