| James Kon |
TO PROVIDE further impetus to the already robust economic ties between Brunei Darussalam and China, 27 Chinese-owned, or joint venture, enterprises registered in the Sultanate have joined forces to establish a first-of-its-kind umbrella organisation.
Formed to act as a bridge for Chinese investors China to Brunei and vice versa, the Chinese Enterprises Association in Brunei (CEAB) was launched at a ceremony which saw the presence of several foreign dignitaries and prominent figures in the local Chinese business community at The Empire Hotel & Country Club yesterday.
The inauguration of CEAB was officiated by guest of honour Dato Paduka Dr Awang Haji Mohd Amin Liew bin Abdullah, Deputy Minister of Finance and Chairman of the Brunei Economic Development Board (BEDB), in the presence of Yang Jian, Ambassador of the People’s Republic of China to Brunei Darussalam and Chen Lian Cai, President of CEAB, who is also the CEO of Hengyi Industries.
Highlighting the long history of friendship between China and Brunei in her speech, Yang Jian said, “Since the establishment of diplomatic realations between our two countries 25 years ago, our cooperation has achieved significant results in all fields.” In the economic sphere, the envoy noted that the mutually beneficial cooperation between the two counties has successfully overcome the headwinds from a sluggish global economy in recent years, and bilateral trade has been increasing in the past five years.
China’s actual direct investment in Brunei in the first four months of 2016 has zoomed to $86 million (B$116.1 million), which is more than the accumulated amount of foreign direct investment (FDI) from China in the past years, she said, adding that Chinese ventures such as Hengyi Refinery, Huludao Steel Tube, Sesame World Technology and Hiseaton Fishery are doing well.
Dato Paduka Dr Awang Haji Mohd Amin Liew bin Abdullah, Deputy Minister of Finance and Chairman of the BEDB (C); Yang Jian, Ambassador of the People’s Republic of China to Brunei Darussalam and Chen Lian Cai, President of Chinese Enterprises Association in Brunei (CEAB) and CEO of Hengyi Indus-tries, during the ribbon-cutting ceremony. – PHOTOS: BAHYIAH BAKIR
Dato Paduka Dr Awang Haji Mohd Amin Liew bin Abdullah, Deputy Minister of Finance and Chairman of the BEDB (5L); Yang Jian, Ambassador of the People’s Republic of China to Brunei Darussalam (6R) and Chen Lian Cai, President of Chinese Enterprises Association in Brunei (CEAB) in a group photo with members of the Chinese Enterprises Association in Brunei
Following the latest interaction between the two sides, the ambassador said that “we are expecting substantial progress to be made on the Brunei-Guangxi Economic Corridor project. Now, we see Bank of China (Hong Kong) preparing its opening in Brunei and we hope their presence will help promote bilateral trade and economic relations further.”
Citing some of the achievements and ongoing projects under Chinese enterprises in Brunei, she said, “I am glad to note that the Telisai-Lumut Highway, which was constructed by the Third Harbour Engineering Company from China together with its Bruneian partners, is now complete and open to the public.
“The Ulu Tutong Dam, another infrastructure project under construction with our cooperation, is expected to be completed in a couple of months. Meanwhile, works on Puala Muara Besar Bridge and Temburong Bridge are moving smoothly with the strong support from Bruneian government agencies and partners.”
Another significant area of cooperation is human resources development, the envoy noted.
“In 2016, we successfully organised the first bilateral training seminar in Fuzhou. The government scholarship programmes are also going on smoothly. Currently, there are many Chinese students admitted to Bruneian universities with scholarships from Brunei government while more and more Bruneian young people are pursuing their higher education in China with Chinese scholarships.
“I’m particularly happy to see that some Chinese investors in Brunei are trying to train local talents in collaboration with universities and enterprises from both countries. Hengyi Refinery has funded more than 40 UBD (Universiti Brunei Darussalam) students since 2014 to carry on their study in China while PBS-COSL Oilfield Services Company, a joint venture of our countries, has been training eight Bruneian employees in offshore oil rigs as well as in the oil fields and universities in China. These efforts, I believe, will help Brunei to train its talents and professionals.
“One thing I do not want to omit is that, since 2013, there have been more than 30 Chinese volunteers dispatched to UBD, UTB and other schools in Brunei to offer one-year volunteer service as teaching assistants. These young men and women, while rendering help to the young people here, have also learned and benefitted a lot from their experiences in Brunei. They became the true envoys of friendship between the two countries,” Madam Yang said.
The establishment of Chinese Enterprises Association in Brunei “symbolises stronger economic ties between our two nations. I hope that the (new) association will play an important role in further promoting the all-dimensional cooperation between the enterprises from both sides, undertake social responsibilities and help build closer bonds with local communities,” she added.
Earlier in his welcoming remark, Chen Liancai, President of the CEAB, said, “We are committed to play a role in the economic development of the country across various industry sectors, namely oil and gas, construction, high technology, telecommunications, health services, fisheries and logistical projects.”
Looking forward to continued working relationship, he said that “the Brunei government, local business communities and CEAB can together contribute towards Brunei’s economic diversification drive and promote knowledge transfer, employment and trade”.
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