FacebookInstagramTwitterContact

 

China Focus: Ice, Snow Fire Up Economy Of China's Winter Wonderland           >>           U.S. To Sell F-35 Jets To Belgium For 6.53 bln USD            >>           Oil Market To See Strong Growth In 2018: Business Executive           >>           World Champions Sui/Han Withdraws From Four Continents Figure Skating Championships           >>           Chelsea's Misguided Striker Targets Are A Bad Sign For Antonio Conte           >>           Chelsea Pursue Roma Teammates Edin Dzeko And Emerson Palmieri           >>           W2W4: Who Makes Way For Sanchez At United? Chelsea's Goal Struggles           >>           Atletico Madrid And La Liga Have Missed The Fiery, Furious Diego Costa           >>           This Week in Parliament (Jan. 15-19)           >>           Integration Key To Total Rehabilitation Of Citarum River, Says Jokowi           >>          

 

SHARE THIS ARTICLE




REACH US


GENERAL INQUIRY

[email protected]

 

ADVERTISING

[email protected]

 

PRESS RELEASE

[email protected]

 

HOTLINE

+673 222-0178 [Office Hour]

+673 223-6740 [Fax]

 



Upcoming Events


The Incredibles 5Km Fun Run
January 7th, 2018 | 00:00 AM


KIDS PANCAKE MAKING & DECORATING CLASS
January 21st, 2018 | 14:00 PM


THE 1 NATION FREE WORKOUT
January 21st, 2018 | 17:00 PM


20th Consumer Fair
January 24th, 2018 | 00:00 AM


Mazalina Wedding Expo
January 26th, 2018 | 00:00 AM





Prayer Times


The prayer times for Brunei-Muara and Temburong districts. For Tutong add 1 minute and for Belait add 3 minutes.


Imsak

: 05:03AM

Subuh

: 05:13AM

Syuruk

: 06:35AM

Doha

: 06:58AM

Zohor

: 12:32PM

Asar

: 03:54PM

Maghrib

: 06:27PM

Isyak

: 07:41PM

 



The Business Directory


 

 



Special Features


  Home > Special Features


An Interview with Dato Paduka Dr Hj Mohd Amin Liew Abdullah


 


 June 30th, 2016  |  11:48 AM  |   5978 views

BRUNEI DARUSSALAM

 

What are your expectations in terms of long-term inflows of foreign direct investment (FDI)?

 

Dato Paduka Dr Hj Mohd Amin Liew Abdullah: Over the last few years we have attracted interest from various international firms to invest in Brunei Darussalam, notably from Canada, China, Japan, Malaysia, Taiwan and Turkey. These FDI projects, mainly in export-oriented industries, have been successfully implemented and are currently in commercial operations. There are a further six FDI projects currently in the implementation stage. These projects not only provide spin-off opportunities for local businesses in providing support services to these FDI companies, they also provide opportunities for meaningful employment for the local population.

 

The government, through the BEDB, will make continuous efforts to attract foreign investments. As a country it is important to understand our strengthens and weaknesses so that we can capitalise on our strengths and attract those investments that we believe would bring benefits to the economy and create more meaningful jobs for the population. In order to grow and diversify the economy, Brunei Darussalam will focus its long-terms efforts on attracting FDI in prioritised clusters within the non-oil-and-gas sectors, with an emphasis on export-oriented manufacturing and services with good market prospects and potential to bring aboout value-added activities and economic development to the country.

 

How does Brunei Darussalam differ from neighboring countries in terms of providing an environment conducive to private investments?

 

Dato Paduka Dr Hj Mohd Amin Liew Abdullah: In creating a more conducive business environment and increasing our attractiveness for FDIs, Brunei Darussalam offers a comprehensive package of value propositions and incentives. Apart from offering a stable macroeconomic environment, access to key markets and a sound legal and regulatory framework, Brunei Darussalam offers a favorable tax environment. There is no personal income, sales, payroll or capital gains tax. Manufacturing tax is further made attractive with the ability for companies to apply for pioneer status and be exempted from corporate income tax and import duties on raw materials and machinery for a period of eight to eleven years for strategic industries. Additionally. companies established in Brunei Darussalam are permitted to have 100% foreign ownership.

 

Furthermore, Brunei Darussalam provides industrial parks dedicated towards housing FDI projects, prepared and installed with the required utilities, such as power, water and telecommunications. These industrial parks are strategically located within close proximity to the airport and ports, which helps to reduce logistics costs and delivery time for export-oriented businesses.

 

On top of these incentives, a FDI fast-track system has also recently been put in place to facilitate speedy approvals from various government agencies in a coordinated, streamlined and expedited manner.

 

Is there scope for private equity funds to invest in specific local businesses?

 

Dato Paduka Dr Hj Mohd Amin Liew Abdullah: Of course foreign private equity firms are welcome in Brunei Darussalam. Indeed, they can look into the existing businesses already operating in the country and understand whether some of these companies have the potential to grow, both domestically as well as internationally.

 

Private equity funds are certainly another source of financing, which offer an alternative to traditional financing services. Private equity funds generally come in and provide capital along with technology transfer and, at the same time, introduce best corporate practices that improve the overall performance of the companies. In return, the private equity firms will generate returns for themselves through their investments in the companies. It is a win-win situation. (Adapted from The Report Brunei Darussalam 2016, Oxford Business Group)

 


 

Source:
@BRUDIRECT.COM

by BruDirect.com

 

If you have any stories or news that you would like to share with the global online community, please feel free to share it with us by contacting us directly at [email protected]

 

Related News


Sabahans’ Rights Guaranteed By Constitution – Pm

 2018-01-20 09:04:26

VPakistan Zainab Murder: DNA Suggests Suspect In Other Case Was 'Innocent'

 2018-01-20 09:14:31

MSCI Says South Korea May Harm Stock Market With Tax Plan

 2018-01-20 11:18:14