| James Kon |
BRUNEI Darussalam will host Brunei Investment Conference in February next year to woo investors to the country. One of the projects to be marketed and set to gain interest is the BioInnovation Corridor (BIC), previously known as the Agrotech Park.
Hajah Normah Suria Hayati binti Pehin Jawatan Dalam Seri Maharaja Dato Seri Utama (Dr) Haji Awang Mohd Jamil Al-Sufri, the Permanent Secretary at the Ministry of Industry and Primary Resources, yesterday spoke about the potential of BIC and the opportunities it will bring. Speaking during the presentation titled, “Brunei’s Value for Business and Investment”, at The Commonwealth Asia Alliance of Young Entrepreneurs (CAAYE) Summit 2014 yesterday, she said BIC would be one of the many projects under the ministry to attract foreign investments into the country.
She said the BIC is for Halal food, cosmetics and pharmaceutical products and it has been marketed overseas and a lot of companies have already shown interest.
“Based on the spin off in FDI, BIC can generate 23,000 job opportunities,” she said.
Hajah Normah Suria Hayati also spoke about the opportunities of Brunei Halal brand. This brand was launched by His Majesty the Sultan and Yang Di-Pertuan of Brunei Darussalam in August 2009.
Citing the global Halal market potential, she said there are over 1.5 billion Muslims worldwide and one out of three lives in Asia Pacific and according to 2009 statistics of Halal food market, the global Halal food market size is estimated at US $636 billion.
Brunei Darussalam’s strategic location at the heart of South East Asia and along the East West Maritime trade route is expected to attract more investments.
The country’s easy connectivity to the growing economies within the region makes it an ideal location for export -oriented trade activities.
Underlining the existense of rich pristine forest and underwater reefs, Hajah Normah Suria Hayati said that there are vast opportunities in nature and eco-tourism.
The focus of the 2014 Summit is to share best practices around the central theme ‘innovate with purpose’ to build a more sustainable and socially-responsible youth entrepreneur ecosystem.
The event is attended by delegations from nine countries with 20 young entrepreneur delegates from each of the member countries. Brunei Darussalam as the host has the largest delegation.