| Danial Norjidi |
CFLD (Singapore) Investment Pte Ltd, the Government of Brunei Darussalam and Darussalam Assets Sdn Bhd (DA) signed a Memorandum of Understanding (MoU) yesterday to enter into a strategic public-private partnership for the development of a Special Economic Zone in Brunei Darussalam using CFLD (China Fortune Land Development International)’s innovative new industry city model.
Under the MoU, the parties will jointly co-invest and develop the Special Economic Zone, an area spanning approximately 40-square kilometres in the Jerudong waterfront and Tungku region to be developed under CFLD’s flagship new industry city model.
The MoU was signed during a ceremony at the Empire Hotel & Country Club.
Dato Paduka Awang Haji Mohamad Roselan bin Haji Mohamad Daud, the Deputy Minister at the Prime Minister’s Office signed as a representative of the Foreign Direct Investment (FDI) and Downstream Industry Steering Committee, and Jerry Zhao, the President and CEO of CFLD International signed for CFLD, while signing for DA was Dato Paduka Dr Awang Haji Mohd Amin Liew bin Abdullah, Deputy Minister of Finance and Deputy Chairman and CEO of DA.
Witnessing the signing was Pehin Orang Kaya Laila Setia Dato Seri Setia Awang Haji Abdul Rahman bin Haji Ibrahim, Minister at the Prime Minister’s Office and Minister of Finance II as the guest of honour. Larry Wang, the Vice President of Strategy and Research at CFLD also witnessed the signing.
Also present at yesterday’s ceremony were Pehin Datu Singamanteri Colonel (Rtd) Dato Seri Setia (Dr) Awang Haji Mohammad Yasmin bin Haji Umar, the Minister of Energy and Industry at the Prime Minister’s Office; and Dato Seri Setia Awang Haji Ali bin Haji Apong, the Minister of Primary Resources and Tourism.
According to a press release, the Minister at the Prime Minister’s Office and Minister of Finance II said, “The strategic partnership between the Brunei government, DA and CFLD is an innovative public-private partnership designed to stimulate and promote the successful growth of a knowledge-based economy and precipitate the successful economic transformation of Brunei Darussalam into a world-class economic hub whilst maintaining its cultural and social integrity and promoting its traditional values of friendship, compassion and social harmony.
Pehin Orang Kaya Laila Setia Dato Seri Setia Awang Haji Abdul Rahman bin Haji Ibrahim, Minister at the Prime Minister’s Office and Minister of Finance II, the guest of honour; Pehin Datu Singamanteri Colonel (Rtd) Dato Seri Setia (Dr) Awang Haji Mohammad Yasmin bin Haji Umar, the Minister of Energy and Industry at the Prime Minister’s Office; Dato Seri Setia Awang Haji Ali bin Haji Apong, the Minister of Primary Resources and Tourism; Dato Paduka Awang Haji Mohamad Roselan bin Haji Mohamad Daud, the Deputy Minister at the Prime Minister’s Office; Dato Paduka Dr Awang Haji Mohd Amin Liew bin Abdullah, Deputy Minister of Finance, who is also the Deputy Chairman and CEO of Darussalam Assets in a group photo with the signatories. – PHOTOS: DANIAL NORJIDI
Dato Paduka Dr Awang Haji Mohd Amin Liew bin Abdullah, Deputy Minister of Finance and Deputy Chairman and CEO of Darussalam Assets
Jerry Zhao, the President and CEO of CFLD International
The signing of the MoU yesterday
“This will provide a substan-tive contribution to Brunei Daru-ssalam’s diversification plan for the development of the service sector, tourism, industries and would seek to reduce the country’s dependence on the oil and gas sector; whilst building the potential to attract foreign direct investment and generate strategic economic development, thus having an impact on citizens and residents of Brunei Darussalam through the generation of employment and business opportunities for local entrepreneurs and traders.”
Dato Paduka Dr Awang Haji Mohd Amin Liew delivering a speech at the event, expressed his thanks to the FDI and Downstream Industry Steering Committee for their leadership and guidance in this project, and also commended CFLD for their show of commitment to pursue this project.
He said yesterday that the MoU paves the way for greater collaboration between CFLD International and Brunei Darussalam.
“The involvement of Brunei Government and DA in this strategic partnership shows our confidence in CFLD’s abilities to harness public-private partnerships in developing successful New Industry Cities geared towards socio-economic development locally.”
A global leader in providing integrated and innovative urban solutions, CFLD International specialises in master planning and infrastructure development.
Jerry Zhao said, “As a leading international develo-per of innovative urban solutions and private-public model collaborations, CFLD International’s objectives of being a trusted advisor to governments and partnering in the creation and development of new industry cities and the fostering and development of tomorrow’s industries and social value creation, are in line with the Brunei Government’s vision of transforming the nation into an international economic hub.
“We are delighted to be partnering with the Brunei government and DA, and to be an active participant in Brunei Darussalam’s future development,” he shared.
“This MoU speaks volumes about our commitment to Brunei Darussalam, which is one of our key growth markets in the region. We look forward to contributing to Brunei Darussalam’s economy and its people.”
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