The Brunei Economic Development Board (BEDB), under the Ministry of Finance and Economy (MOFE), is actively working to attract Foreign Direct Investment (FDI) by promoting investment opportunities at regional and international expos. Targeted countries include Japan, South Korea, Australia, Singapore, and India.
This was highlighted by Minister at the Prime Minister’s Office and Minister of Finance II Yang Berhormat Dato Seri Setia Dr Awang Haji Mohd Amin Liew bin Abdullah, in response to a question raised by Yang Berhormat Pehin Orang Kaya Laila Setia Dato Seri Setia Awang Haji Abd Rahman bin Haji Ibrahim during the 9th day of the 21st Legislative Council meeting Tuesday.
To ensure that local entrepreneurs benefit from FDI, including opportunities in the supply chain, BEDB has consistently promoted these prospects. This initiative specifically encourages local MSMEs (Micro, Small, and Medium Enterprises) to act as suppliers and vendors for large FDI companies.
Through the DAreLINKS initiative, more than 600 contract opportunities have been made available to local businesses.
Notably, the downstream oil and gas sector has generated significant positive spin-off effects. For example, Hengyi Industries Sdn Bhd’s operations have benefited from services and supplies provided by 121 local companies, Brunei Fertilizer Industries (BFI) by 230 companies, and Brunei Methanol Company (BMC) by 32 companies.
Source: Borneo Bulletin
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March 17, 2025
