Japanese Investments Flowing
By M K Anwar

Bandar Seri Begawan - As Brunei continues with its efforts to diversify the economy, more foreign direct investments are needed to support the country's goals and ambitions, official here remark.

Sustainable projects using available resources are what the country is seeking.

Tourism and finance have taken off in the right direction. It's now the turn of other industries that are hoped to diversify the economy that is now dependent on oil and gas and create thousands of new job opportunities.

Some of the big Japanese companies are expanding ties with Brunei and help the Sultanate develop other industries, the Japanese media reported.

Mitsubishi Corp. is one of the companies lending its hand towards the diversification of the Brunei's economy.

A relationship that is deeply rooted in the Brunei Liquefied Natural Gas industry, it had in 1979 started Farm, a joint venture with the government to cultivate land for agricultural purposes.

Since then various projects have been agreed upon and in 1989, expanding further in agriculture, the Mitsubishi's subsidiary began the hydroponics project, which started to grow a variety of vegetables and fruits.

In another research project that began in 2003, Mitsubishi started to rear flatfish in water tanks. At the end of 2004, these fish were exported on a trial basis to Singapore and other countries as well. Plans to export fish as a high quality product in the future is also being explored.

Besides McFarm, the Mitsubishi Gas Chemical together with another Japanese company are in talks to develop the country's first- methanol plant. In the final stages of negotiation, the plant is expected to be completed by September 2007 in Sg Liang once the formalities are over. The plant will be a production base for methanol that in turn will be used to make paints and other chemical products. If completed, daily production of methanol will be 2,500 tonnes per day.

Another Japanese company, Marubeni Corp is also in talks to build a combined steam and gas turbine power plant that will further satisfy the power needs of the country.

Various other projects have also been earmarked to be completed in the near future that are in line with Brunei government's vision to diversify the economy away from oil and gas.

Most importantly, the involvement of multi-national companies is necessary as they will be bringing in muchneeded expertise and experience to the Sultanate. -- Courtesy of Borneo Bulletin

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