China sees potential in Brunei shipping
Wednesday, July 11, 2007
RECOGNISING the huge potential in Brunei Darussalam's shipping industry, a Chinese business delegation has expressed interest in the sector.
Yu Dingcheng, Deputy Director General at the Department of Commerce, Yunnan Province China, said he sees the prospects of the shipping industry in the sultanate.
He said Brunei Darussalam exhibits important facets conducive to the establishment of a thriving shipping industry.
"In my view, there are areas that have potential for development in the future. Even though Brunei is not a big country, it has very nice conditions for shipping," said Yu, who is leading a delegation from China to look at the investment opportunities in Brunei and other countries in the region.
The sultanate can build and become a hub for shipment traffic connecting Asia to America and the Middle East, he added.
"Now Asia is developing fast and a growing demand for shipping and Brunei can take advantage of this," said the Chinese official.
Recently, consultancy company Oxford Business Group (OBG) revealed that the government of Brunei Darussalam has underlined its commitment to re-establish its container port by preparing to contribute 70 per cent of the investment, including the necessary infrastructure.
In its report entitled "Brunei Darussalam: Port Expansion" it identified Pulau Besar has long been pinpointed as an ideal port site because of its strategic location.
The deep waters around the island also provide Brunei Darussalam with a competitive advantage in attracting larger vessels.
Yu also also pointed out that there are other areas where Brunei can explore and hopefully realise its potential.
"Brunei, being an Islamic country, has an advantage in the processing of halal food; in this aspect, Brunei can attract foreign investment in halal food processing."
Yu said the demand from the Muslim population in China would make it viable to set up a halal business with Brunei. He added that Brunei has already seen some success in its forays into China's burgeoning market, with its locally produced shrimp crackers.
"Brunei's shrimp crackers sell quite well in Kunming; also in Kunming there is a large number of Muslims, together we can develop for the halal food industry," said Yu.
Brunei-China trade has reached $500 million, but the sultanate hopes to expand the volume to US$1 billion by 2010.
The Brunei Times
Yu Dingcheng, Deputy Director General at the Department of Commerce, Yunnan Province China, said he sees the prospects of the shipping industry in the sultanate.
He said Brunei Darussalam exhibits important facets conducive to the establishment of a thriving shipping industry.
"In my view, there are areas that have potential for development in the future. Even though Brunei is not a big country, it has very nice conditions for shipping," said Yu, who is leading a delegation from China to look at the investment opportunities in Brunei and other countries in the region.
The sultanate can build and become a hub for shipment traffic connecting Asia to America and the Middle East, he added.
"Now Asia is developing fast and a growing demand for shipping and Brunei can take advantage of this," said the Chinese official.
Recently, consultancy company Oxford Business Group (OBG) revealed that the government of Brunei Darussalam has underlined its commitment to re-establish its container port by preparing to contribute 70 per cent of the investment, including the necessary infrastructure.
In its report entitled "Brunei Darussalam: Port Expansion" it identified Pulau Besar has long been pinpointed as an ideal port site because of its strategic location.
The deep waters around the island also provide Brunei Darussalam with a competitive advantage in attracting larger vessels.
Yu also also pointed out that there are other areas where Brunei can explore and hopefully realise its potential.
"Brunei, being an Islamic country, has an advantage in the processing of halal food; in this aspect, Brunei can attract foreign investment in halal food processing."
Yu said the demand from the Muslim population in China would make it viable to set up a halal business with Brunei. He added that Brunei has already seen some success in its forays into China's burgeoning market, with its locally produced shrimp crackers.
"Brunei's shrimp crackers sell quite well in Kunming; also in Kunming there is a large number of Muslims, together we can develop for the halal food industry," said Yu.
Brunei-China trade has reached $500 million, but the sultanate hopes to expand the volume to US$1 billion by 2010.
The Brunei Times
Business Besides Oil
