A BUSINESS delegation led by Dato Paduka Haji Ali bin Haji Apong, Deputy Minister at the Prime Minister’s Office and Chairman of the Brunei Economic Development Board (BEDB), has arrived in the Sultanate of Oman for a three-day visit from January 19 to 22.
The delegation is comprised of members from BEDB as well as businessmen from 10 leading small and medium enterprises (SMEs) in Brunei representing the food & beverages and oil & gas services sectors.
Members of the delegation are expected to meet with their counterparts in Oman to discuss ways to enhance trade, economy and investment between the two brotherly countries, in light of the visit by Dr Salim bin Nasser al-Ismaili, Chairman of the Public Authority for Investment Promotion and Export Development (PAIPED) and the accompanying delegation to Brunei, on November 8 to 11, 2014, as well as the visit by Salim Nasser Al Aufi, Under Secretary of Ministry of Oil and Gas of the Sultanate of Oman, and his accompanying delegation to Brunei during the period from November 25 to 27, 2014.
The visiting delegation is also expected to discuss with a number of high-level officials in the Sultanate of Oman ways to harness excellent relations between the two countries to facilitate trade and economic exchanges, and explore the best frameworks for economic cooperation, investment and trade between them.
The delegation would also be briefed on investment opportunities in Oman and the country’s initiatives to attract foreign investment, in addition to the rules and frameworks that govern business practices in Oman and the guarantees for conducting businesses in Oman.
At the pre-briefing held for the members of the business delegation, Sheikh Ahmed Hashil Al-Maskari, Ambassador of the Sultanate of Oman to Brunei, said, “Enhanced by the strong diplomatic relations that exist between Brunei and Oman, and given the size of Oman market, I am optimistic that there will be plenty of opportunities for businesses from both countries to pursue together, not only in Oman, but also in the middle eastern markets by making Oman as a strategic hub for Brunei businesses.”
Meanwhile, Dato Paduka Haji Ali said, “Exploring new business opportunities and enhancing potential collaborations have been at the centre of this visit, which I hope will bear some fruitful business engagements and collaborations between businesses of both countries.
“This, I hope, will not only further strengthen the bilateral economic and business cooperation between the two countries, but will also pave the way for our local promising SMEs to expand their capabilities and set up a foothold beyond Brunei in order to achieve the $100 million annual revenue target as set under the BEDB’s Enterprise 100 Transformation Programme.”
He further added, “In order to grow, these companies need to expand beyond Brunei Darussalam, as our domestic market is very limited for growth. And this growth is not only important to the companies themselves, but even more important is for the overall growth of the Brunei economy.”