| Azlan Othman |
THE Brunei Malay Chamber of Commerce and Industry (DPPMB) must open trade and investment opportunities for members and help find alternative sources of funding for fledgling small businesses to achieve Brunei Vision 2035, said DPPMB President Dr Haji Kamaruddin bin Dato Seri Paduka Haji Talib.
He made this statement during the fourth DPPMB Power Lunch event at The Empire Hotel & Country Club yesterday.
“Power Lunch and World Café (a DPPMB business dialogue event) are efforts that have opened opportunities for us to work with member companies, directly benefitting those took who advantage of opportunities during the networking sessions,” said Dr Haji Kamaruddin.
“We envision striving harder to do substantive work that raises the chamber’s reputation as the lead chamber for the Malay business community as well as the lead chamber under the umbrella of the national chambers of commerce and industry.”
Speaking on the keynote address by Ambassador of the People’s Republic of China to Brunei Darussalam Yang Jian on China’s economic rise, Dr Haji Kamaruddin said China has remained ASEAN’s largest trading partner for nine consecutive years, whereas ASEAN has been China’s third-largest trading partner for seven years running.
“Next month, leaders of China and ASEAN will convene in Singapore to discuss the ‘China-ASEAN Strategic Partnership Vision 2030’, which charts the course for ASEAN-China relations for the next decade,” he said.
“It is extremely significant to note that the sharing of information on what lies ahead for Brunei businesses will be very important. We need to leverage on these strategic partnerships… this will prove valuable for our business community.”
Meanwhile, Yang Jian said that the Brunei-Indonesia-Malaysia-Philippines East ASEAN Growth Area (BIMP-EAGA) provides vast business opportunities for China.
China has an average annual economic growth rate of 9.5 per cent, with GDP for 2017 amounting to USD12.25 billion, up by 6.9 per cent from the previous year.
The country has grown into the world’s second-largest economy, the largest industrial producer, the largest trader of goods, and the holder of the world’s largest foreign currency reserves. Its annual foreign trade growth is a formidable 14.5 per cent.
China is the biggest trading partner for over 120 countries, and it counts ASEAN as one of its top trading partners – a list which also includes the European Union, US and Japan.
The quarterly event is part of the DPPMB Power Lunch series, a flagship programme that gathers prominent local Malay business figures and government officials to discuss fresh perspectives and insights in commerce relevant to the Brunei business community.
Other participants include companies that have successfully turned their businesses around to stay above the competition, up-and-coming young entrepreneurs, successful businesswomen, as well as family businesses that have diversified to ride the crest of the economic boom, to name a few.
The event also provided the stage for members of the Diplomatic Corps to share their viewpoints on developments and prospects on trade and investment within Brunei and the region.