Upcoming Borneo summit to enhance trade, FDI

Chair of Asean Business Advisory Council Brunei Haslina Taib in a group photo. - ASEAN BAC INDONESIA

JAKARTA (Borneo Bulletin/Asia News Network): Discussion for measures to enhance trade, attract foreign direct investment (FDI) and plans for the upcoming Borneo Business Summit in Pontianak on November were held during Borneo Business Roundtable (BBR) 2023 meeting at the Sultan Hotel in Jakarta recently.

The event hosted by Asean Business Advisory Council (Asean-BAC) Indonesia in collaboration with Asean-BAC Brunei Darussalam brought together stakeholders from three Asean countries sharing Borneo: Indonesia, Malaysia and Brunei Darussalam.

The Jakarta meeting was the second BBR following the first meeting in Bandar Seri Begawan on April 28.

In the meeting, representatives from the three Asean member states officially endorsed a cooperation statement to establish Borneo Economic Community (BEC).

The initiative is designed to promote joint strategies that will stimulate economic development in the subregion and encourage cross-border connections.

Chair of Asean-BAC Brunei Haslina Taib said, “The BEC aims to function as an inclusive and sustainability-driven business association for enterprises in the island and professionals in emerging fields, such as those involved in the gig economy, content creation and remote work.

This goal will be realised through various initiatives including marketplaces and programmes designed to reduce entry barriers for micro, small and medium enterprises (MSMEs), rural and social enterprises as well as digital nomads and skilled individuals. As an enterprise-driven initiative, BEC provides inclusive opportunities for businesses in Borneo.”