Brunei - Brunei is open for business

BRUNEI Darussalam is open for business and ASEAN and EU entrepreneurs must consider setting up ventures in the Sultanate. "We're in the midst of diversifying our economy away from the oil and gas sector and many business sectors are available such as the food processing sector."

This was said by Second Minister of Foreign Affairs and Trade, Yang Berhormat Pehin Orang Kaya Pekerma Dewa Dato Seri Setia Lim Jock Seng, at the 2nd ASEAN-EU Business Summit in Phnom Penh yesterday.

The Second Minister took the opportunity to promote Brunei as a business destination after noticing "very few" Bruneian entrepreneurs at the forum.

He urged ASEAN and EU businesses to consider doing business in Brunei and hoped that the ASEAN-EU Business Summit will continue to encourage business dialogues between the government and private sector. He also said that when Brunei hosts the 3rd ASEAN-EU Summit next year, there will be a chance for European and ASEAN businesses to explore more investment opportunities in various sectors.

"The engagement (of the public sector) is going to be a continuous one and we can focus on different sectors every year," he said, adding that such platforms at the summit should encourage engagements and dialogue between senior ministers and the private sector.

He added that after listening to the recommendations from the private sector, he wanted to share the idea for capacity building using Brunei as an example.

YB Pehin Dato Lim said education is the key element in encouraging capacity building in the ASEAN region.

YB Pehin Dato Lim said for enhancing trade in the services sector some basic fundamentals need to be put in place. "It's not the economical aspect but I was thinking in terms of education. In Brunei we send our people to the United Kingdom," he said, adding that the scholars who return after completing their studies are equipped with international experiences and know-how which could help the ASEAN region.

The Second Minister said these scholars are not only familiar with foreign systems, but also with their culture.

The Brunei Times

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