Bandar Seri Begawan - The Brunei Economic Development Board (BEDB) hosted a briefing for Sayyid Badr bin Hamad bin Hamood Al Busaidi, Secretary-General of the Ministry of Foreign Affairs in the Sultanate of Oman yesterday.

The briefing was conducted at iCentre in Anggerek Desa and it was aimed at providing an overview of economic development activities that are taking place in Brunei. Present to welcome the Secretary-General and his delegation was the Acting Chairman of BEDB, Dato Paduka Timothy Ong. It was followed by a briefing on the economic opportunities in Brunei, delivered by Mr Vincent Cheong, Chief Executive Officer of BEDB.

In his welcoming remarks, Dato Paduka Timothy Ong highlighted the opportunities that both countries could potentially and jointly develop particularly in energy and energy-related projects including refinery, petrochemicals and aluminium smelting. "We are looking forward to the cooperation and participation from the Omani investors in the effort to create a more sustainable economy for Brunei particularly in energy and energy-related sectors," he stated, according to a BEDB press release.

Sayyid Badr is currently in the country leading the Omani delegation for the 11th Bilateral Consultative Meeting between Brunei Darussalam and the Sultanate of Oman which is being held from November 2-4.

Oman is situated at the eastern corner of the Arabian peninsula bordering Saudi Arabia, UAE and Yemen. It has a population of approximately 3.4 million. As a country that is heavily dependent on dwindling oil resources for its revenue, Oman is actively pursuing a development plan that focuses on diversification, industrialisation and privatisation with the objective of reducing the oil sector's contribution to GDP to 9 per cent by 2020 (CIA World Facebook).-- Courtesy of Borneo Bulletin

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