Credible Investors Eye On Brunei’s Potentials
By CT HJ MAHMOD

Bandar Seri Begawan - Serious credible investors are eyeing on Brunei’s potentials as the Sultanate is heading in the right direction towards kick-starting the nation’s economic diversification plan.

The two-pronged strategy to draw in US$4.5 billion in foreign direct investment looks set to bear fruits with many investors showing interest and eyeing on Brunei’s potentials.

Mr. John Perry, CEO of Brunei Economic Development Board (BEDB), said the important message is, “We have serious credible investors who are prepared to invest in Brunei and these decisions can be made in a relatively short term to have the impact that we had planned on the economy and job situations.”

Mr Perry together with another guest speaker from City Neon gave a presentation yesterday during a luncheon hosted by BENA (Brunei Energy Association) at Orchid Garden Hotel.

Present to welcome both speakers was Dato Paduka Hj Hamdillah, CEO of BLNG in his capacity as the President of BENA.

Mr Perry said, “We are faced with some timing issues which are real and have to be dealt with this year for they are market driven opportunities.

“We have to make a commitment towards investment decision by the 1st quarter of 2004,” he added.

Dato Hj Hamdillah saw the need for “a sense of urgency for local businesses to seek opportunities”, and added, “It is now or never.”

Mr. Perry’s presentation touched on Brunei’s Value Proposition, BEDB’s two-pool investment updates and critical deadlines for both Sungai Liang infrastructure site planning and Pulau Muara Besar competitive Global port.

He also gave updates on the progress of the ACI Elastomers Project, which BEDB signed with UK-based ACI Corporation Ltd last July 2003, in which the deadline for the power contract negotiation will end in the 2nd quarter of 2004.

Meanwhile a representative from City Neon gave a presentation on Brunei International Trade Exhibition (BITE), which will take place on February 28.

This is the first time for BENA was given an update on BEDB strategies. It also helped its members to learn and seek opportunities in the energy industry for the year 2004.

BENA is an association of 39 organisations from the energy sector and related service industries in Brunei. -- Courtesy of Borneo Bulletin

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