Tuesday, February 27, 2024
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Brunei Town

Agreement inked to enhance Borneo economic community

The National Chamber of Commerce and Industry Brunei Darussalam (NCCIBD) held a signing ceremony for the formation of the Brunei Darussalam-Sabah Joint Business Council with the Malaysian International Chamber of Commerce and Industry (MICCI) of Sabah Branch, marking a major step forward of working together to elevate business and investment between the Sultanate and Sabah.

High Commissioner of Malaysia to Brunei Darussalam Dato’ Raja Reza bin Raja Zaib Shah was the guest of honour at Monday’s ceremony.

NCCIBD and MICCI Sabah Branch signed the agreement to strengthen collaboration through the newly formalised Joint Business Council.

Signing the memorandum of understanding (MoU) on behalf of Brunei were NCCIBD President Haji Abdul Saman bin Haji Ahmad and Francis Lee Chung Keng, while MICCI Vice Chairman Datuk Susan Chang and Datuk Jade Koh represented Sabah.

The signing was witnessed by NCCIBD Secretary General Haji Abdul Halim bin Haji Saim.

High Commissioner of Malaysia to Brunei Darussalam Dato’ Raja Reza bin Raja Zaib Shah during the discussion with NCCIBD and MICCI officials. PHOTO: NCCIBD

Pengiran Dr Haris bin Pengiran Duraman of Brunei and Datuk Hajah Rosmawati Haji Lasuki and Matthew Loh of Sabah were also present.

The agreement reflects the culmination of negotiations, cooperation and shared vision of fostering cross border collaboration and advancing economic cooperation between the business community in Brunei and Sabah.

Haji Abdul Saman bin Haji Ahmad expressing enthusiasm about the partnership, said the agreement will enhance the partnership between the business community in the Sultanate and Sabah for a stronger Borneo Economic Community (BEC).

The signing ceremony was followed by a presentation on the BEC formalised at the second Borneo Business Roundtable in Jakarta on September 5.

The BEC aims to function as an inclusive and sustainability-driven business association for enterprises in the island and professionals in emerging fields, such as those involved in the gig economy, content creation and remote work.

The goal will be realised through initiatives including marketplaces and programmes designed to reduce entry barriers for micro, small and medium enterprises (MSMEs), rural and social enterprises as well as digital nomads and skilled individuals. As an enterprise-driven initiative, BEC provides inclusive opportunities for businesses in Borneo. – Azlan Othman