BANDAR SERI BEGAWAN: A delegation of over 20 Indian companies, capitalising on the foreign direct investment (FDI) interest generated by BEDB’s Investment Seminar in Chennai, India visited Brunei to explore FDI opportunities.
The highlight of their visit was an investment forum hosted by Brunei Economic Development Board (BEDB), where Indian companies explored investment opportunities aligned with Brunei’s diversification agenda. The forum showcased Brunei’s five priority sectors: downstream oil and gas; food; services; tourism; and information and communication technology.
Presentations on the Brunei Digital Masterplan, government-linked companies and Brunei’s free trade agreements provided insights for the Indian delegation.
Following the forum, curated networking sessions were held to facilitate partnerships between Indian companies and key Brunei stakeholders, including local businesses, regulators, and supporting agencies.
President of the Indian Economic Trade Organization (IETO) Dr Asif Iqbal expressed optimism about the visit, highlighting its significance as a reciprocal initiative building on the recent visit of the Indian prime minister to Brunei.
He noted that the inaugural direct flights between Brunei and Chennai, coupled with BEDB’s proactive engagement, have made Brunei more accessible to Indian businesses. The favourable business environment, including clean and green surroundings, English-speaking population and supportive regulations, has further impressed the delegation.
Indian businesses are keen to establish a presence in Brunei, particularly small and medium enterprises (SMEs) seeking to expand into South-East Asia. The delegation is developing proposals to set up businesses in the country, and IETO aims to facilitate more such visits in the future.
The delegation was hosted to a welcoming dinner at a hotel in Gadong.
Minister at the Prime Minister’s Office and Minister of Finance and Economy II Dato Seri Setia Dr Awang Mohd Amin Liew Abdullah attended as chairman of BEDB.
The Brunei government, through BEDB, has demonstrated its commitment to attracting foreign investment by organising this exchange mission and providing a conducive environment for businesses.
The India business exchange mission marks a significant step in strengthening economic ties between Brunei and India. It has opened doors for collaborations and investments, contributing to economic diversification and development. – Borneo Bulletin/ANN
