CEMENT prices in the country are set to fall with the Energy and Industry Department at the Prime Minister’s Office (EIDPMO) abolishing the existing cement import quota policy effective from January 1, 2017.
This new policy is expected to open up the market for all types of cement, boosting construction activities in the country at a time when the Sultanate is striving to diversify its economy away from oil and gas.
“The EIDPMO move will provide more opportunities in the construction and other sectors, create more spin-offs for our local micro, small and medium enterprises (MSMEs) and benefit the people as a whole because an open market will result in competition which in turn will reduce prices of cement and the cost of construction. This will also ensure that there will be sufficient cement supply. The cheaper price will also promote export opportunities for local producers,” the department said in a press statement yesterday.
The cement market was previously regulated under an import quota system where the quantity of imported cement was controlled and limited.
“A Committee for Registration of Cement Importers has been set up to oversee and implement the new policy. It will work to protect the interests of the consumers by establishing standards of cement quality and endeavouring to maintain adequate supplies of cement,” the EIDPMO statement added.
The committee, led by the EIDPMO, includes members from Department of Economic Planning and Development (JPKE), Royal Customs and Excise Department (RCED), Authority for Building Control and Construction Industry (ABCi) and Public Works Department (PWD).
Persons or companies interested to be cement importers may send their application to: Business Support Centre (BSC), 1st Floor, Design & Technology Building, Simpang 32-37, Kg Anggerek Desa, Bandar Seri Begawan, BB3713, Brunei Darussalam. Website: www.dare.gov.bn. added.
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