BANDAR SERI BEGAWAN (Xinhua): The Muara Port Company Sdn Bhd (MPC), a joint venture between Brunei and China, signed an agreement with the Brunei government on Tuesday (Dec 22) to develop and operate the country's largest fishing complex.
Founded in February 2017 between China's Guangxi Beibu Gulf International Port Group and Brunei's Darussalam Assets, a government-backed investment agency, the MPC will take over the project to modernise, operate and manage the Muara Fish Landing Complex.
"The development and operations will begin in early quarter of 2021, bringing new economic and social opportunities for our nation," Fazilah Yassin, MPC's Chief Operating Officer said during a signing ceremony.
"MPC would like to see the continuation of joint efforts for building a long-term and strategic collaboration between the future subsidiary company and the government of Brunei Darussalam," he added.
During the ceremony, the MPC also signed a Memorandum of Understanding with Bank Islam Brunei Darussalam, the largest local bank, and a Memorandum of Understanding with Bank of China Brunei Branch, to strengthen financial cooperations with the banks.
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