BJEPA To Sell Brunei To Japan Investors
By Waleed Dp Mahdini

Bandar Seri Begawan - One of the main underlying forces driving the Brunei-Japan Economic Partnership Agreement (BJEPA) is its potential to become a key enabler for making Brunei more attractive to Japanese investors, the Deputy Minister of Industry and Primary Resources said yesterday.

Speaking to The Brunei Times, Dato Paduka Hj Hamdillah touched on a range of issues affecting the nation. On the ETA, he explained it provided the opportunity for Japanese investment, technical expertise and skills to be explored and harnessed in the sultanate's drive towards economic diversification.

His Majesty the Sultan and Yang Di-Pertuan of Brunei Darussalam will be flying off to Tokyo later today to formalise the accord with Japanese Prime Minister, Shinzo Abe. It is expected to pave the way to reducing double taxation bilaterally, thus presenting a more accommodating economic climate for Japanese investors.

Some of the issues that Brunei's delegation will be concentrating on will be promoting economic opportunities in tourism, forestry, agriculture and fisheries. The sultanate is looking to attract Japanese entrepreneurship in three focus areas: ecotourism, the fisheries industry and the Brunei Methanol Consortium.

"Brunei's green belt policy is probably one of its biggest global contributions," Dato Hamdillah noted. Brunei has allocated 58 per cent of the country's land for conservation.

However, expertise is needed to effectively manage the country's valuable forest resources. "With the commercialisation of an energetic ecotourism industry, we need ideas and foreign investment and Japan is well-known for its environmental responsibility," said Dato Hamdillah.He was also optimistic about Brunei's potential to attract tourists. "We are looking at a future increase of up to three to fourfold more planned chartered flights from Japanese tourists," he said.

With regard to fisheries, he related that negotiations are underway to support and further develop aquaculture SMEs for the export of locally bred black tiger prawns to the larger, more lucrative markets of Japan and America.

The deputy minister also touched on the Sungai Liang industrial park. Expected to be operational by 2010, it is a joint venture between Petroleum BRUNEI and the Mitsubishi Gas Company.

"I hope that our SMEs will find opportunities from this new multi-million dollar project that offers sustainable business and sustainable jobs for the full duration of the 25 year project."-- Courtesy of The Brunei times

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