France: Brunei's Second largest Investor

Bandar Seri Begawan - Brunei enjoys a healthy trading relationship with the Republic of France.

This is evident from the increasing amount of investments made by both countries.

The Republic of France is Brunei's second largest investor. Business focus talked to the Ambassador of France, His Excellency Thierry Borja de Mozota to discuss more on this issue.

When you take a drive around Brunei, you'll find that there is very little French influence here. There's no French Restaurants, boutiques and only a handful of French products.

Yet, France is Brunei's second largest investor. Although French companies are present, many do not know that they originate from France.

His Excellency Thierry Borja de Mozota, Ambassador of the Republic of France, said France investments are present in the banking and insurance sector, automobile industry as well as armaments, tyres and mobile phone to name a few.

With TotalFinalelf expected to start new explorations in deep waters of Brunei, it is believed that the same will perk up France's investments further in his country. But why is it that France, a country that has little influence, has billions of investments in 3runei? Business focus asked the ambassador to explain.

The ambassador also told Business Focus that Bruneians should expect more French companies to set up offices here. This includes the telecommunication sector.

'Alcatel' has the intention to settle a team of their consultants here in Brunei on a permanent basis.

"This is to act on the strong mobile phone technology Market in Brunei. They are also looking at the Aeronautics sector such as engineering and Maintenance and marketing with the national career, Royal Brunei Airlines," he said.

The ambassador also added that the food industry is also something that they are contemplating on.

As Brunei, with the Brunei Economic Development Board in the lead, initiates its diversification of the economy, what sectors are the French looking at?

The bottom line remains that favourable conditions must increase, if not be maintained to lure such investors in. This is especially true in the age and time when Brunei is attempting to diversify its economy. "In addition to that, any upcoming proposals must be realistic enough in order for foreign investor to even consider the thought of investing in Brunei," he added.  -- Courtesy of Radio Television Brunei

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