Improve Corporate Standards To Attract FDI, Minister Urges

Bandar Seri Begawan – The standards of corporate life in Brunei have to stand up to scrutiny of world economic players where investors have choices as to where to place their funds and projects.

With all the efforts being put to attract Foreign Direct Investments (FDI) into Brunei, transparency in not just the process of approval but also how companies are managed.

Dato Haji Yakub Bin Abu Bakar, the Acting Minister of Finance, made the note at a seminar on corporate governance and directors’ duties and responsibilities yesterday.

He said the disclosure quality is an important element of corporate governance while accounting standards play a critical role in corporate governance by informing investors and by making contracts more verifiable.

More than 60 people from government and private sectors attended the daylong seminar.

Held at a leading hotel in Jerudong, the seminar was organised by the Brunei Darussalam Institute of Certified Public Accountants. -- Courtesy of Radio Television Brunei 

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