25.7 C
Brunei
Friday, August 12, 2022
25.7 C
Brunei
Friday, August 12, 2022
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    Push for FDIs to boost economy

    James Kon

    As it adjusts to the new norm, the Sultanate is also pushing for foreign direct investments (FDIs) to spur economic activities to ensure a conducive business environment for local and international businesses to thrive.

    This was highlighted by Minister at the Prime Minister’s Office and Minister of Finance and Economy II Dato Seri Setia Dr Awang Haji Mohd Amin Liew bin Abdullah during an economic forum hosted by the French Bruneian Business Association (FBBA) at Mutiara Ballroom, Radisson Hotel yesterday.

    As the chair for ASEAN in 2021, the minister said, Brunei aims to push for long-term private sector growth and resilience by pressing on matters including digitalisation, supply chain resilience and environmental protection.

    Dato Seri Setia Dr Awang Haji Mohd Amin Liew also highlighted the importance of Brunei Darussalam’s economic blueprint launched by the Ministry of Finance and Economy (MoFE) in 2021, which acts as a guide towards becoming a ‘dynamic and sustainable economy’, one of the Brunei Vision 2035 goals.

    “It plays an important role in guiding us to chart our industrial roadmaps and key sector masterplans, of which there are five key sectors identified – downstream oil and gas, food, tourism, services and ICT,” he said.

    Minister at the Prime Minister’s Office and Minister of Finance and Economy II Dato Seri Setia Dr Awang Haji Mohd Amin Liew bin Abdullah in a group photo. PHOTO: JAMES KON

    He also shared the six aspirations of the Sultanate’s economic blueprint, namely productive and vibrant businesses; skilled, adaptable and innovative people; open and globally connected economy; sustainable environment; high quality and competitive economic infrastructure; good governance and public service excellence.

    “By focussing on these six aspirations and the emphasis on the industrial roadmap and the key sector masterplans, there is a strong support and push for private sector growth.”

    Meanwhile, FBBA Honorary President Haji Musa bin Haji Adinin highlighted that FBBA is one of the most active business associations in the Sultanate.

    Some 150 individuals participated in the forum including Permanent Secretary (Economy) at the MoFE Dr Hajah May Fa’ezah binti Haji Ahmad Ariffin, Ambassador of France to Brunei Darussalam and FBBA Patron Bernard Regnauld-Fabre, and members of the Diplomatic Corps and FBBA.

     

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