Workshop on attracting FDI, Capacity Building

Chairman of the BEDB: To attract FDI, Brunei must assemble all human and material resources in the same direction

Director of Trade and Entrepreneur Devt Haji Abd Rahman … Brunei considers the WTO as an important vehicle

Participants for the two-day ‘Workshop on Foreign Direct Investment’ include officers from different government departments, members from the Chambers of Commerce and financial Institutes at Centre Point Hotel yesterday

A ‘Seminar and Workshop on Foreign Direct Investment’ was opened yesterday at the Purple Jade Room at Centre Point Hotel yesterday. The workshop was organised by the Asean-Japan Centre & Trade and Entrepreneur Development, Ministry of Industry and Primary Resources Negara Brunei Darussalam.

The participants for the two-day workshop include officers from different government departments, members from the Chambers of Commerce and financial Institutes.

Launching the seminar was the Chairman of Economic Development Board, Dato Paduka Haji Yussof bin Hamid. The function was led by a welcoming speech from the Director of Trade and Entrepreneur Development, Haji Abd Rahman bin Haji Chuchu. In his speech he stated that he believed that like many Non-Aligned Movement (NAM) members, Brunei Darussalam considers the World Trade Organisation as an important vehicle in increasing trade, investment and economic growth.

He also added that the NAM members wanted to broaden the benefits of free trade by enhancing the participation of SMEs in open trade and to strengthen their competitiveness. He believes that the FDI workshop has added another step in moving these agenda forward. He also hopes that the spirit of co-operation between NAM member countries will continue to deepen in future and translate into an increase trade, investment and tourism.

This was followed by a speech from the guest of honour, Dato Paduka Haji Yusof, the chairman of the Brunei Economic Development Board. He said Brunei has to assemble all human and material resources and get them working together in the same direction towards the same common cause which is to attract foreign investment.

He said the workshop is well-timed because Brunei, together with other countries, has already encountered a decline in Foreign Direct Investment (FDI) because investors are more careful of where, when and how they will invest. With the BEDB strategy to diversify the Brunei economy, attracting FDI is not just a matter of sending out some advertisement around the world. The success of FDI in Brunei depends on many successful inter-relationships with the Brunei government and institutions with the business community and most importantly, the ordinary citizen of Brunei Darussalam.

The FDI Capacity Building Workshop will be held on two consecutive days with a closing ceremony.

The first session or day one of the workshop will include topics on China Boom in Japan, Japanese FDI to Asean and China, Asean as an important partner and investment destination and Japanese companies in Asean and China. The second session will include the Introduction to FDI Promotion and developing an Investment Promotion Program which was followed by the 3rd Session on Developing Investment Promotion Skills. On the second day, topics are Targeting of Investments, How to do Business with Japanese, Localised Investment Promotion and will concluded with Role of International Organisations in Investment Promotion. At the end of the seminar, a presentation by the participants will be done.

Two speakers from the Japanese External Trade Organisation with expertise and knowledge in investment were also invited to talk in the workshop for the two days.