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Brunei tightens economic bonds with Taiwan

The Brunei Economic Development Board (BEDB) has reached agreement with the Taiwan Ministry of Economic Affairs (MOEA) to strengthen bilateral ties between the two countries through several arrangements.

BEDB's contingent of nine, led by its CEO Vincent Cheong, met up last Friday with Chiu Yi-Cheh, director-general of the MOEA's Department of Investment Services, to exchange views on strengthening economic cooperation between Brunei and Taiwan.

The discussion was focused on investment measures, human resources, key industries, and halal food certification.

It was agreed during the meeting that a communication window will be set up to facilitate interactions between the two parties, strengthen investment information exchange, and assist factories and companies from both sides in carrying out investment activities.

According to Taiwan's Independent Evening News, BEDB's trip was to better understand the political and economic development on the island, and also gain insights on control measures in managing an industrial area.

Apart from visiting green energy, pharmaceutical and food processing factories, Cheong and company also conducted investment seminars in order to spur interests of Taiwan businesses to invest in Brunei.

Speaking to the media, Chiu commented that as Taiwan businesses were unfamiliar with Brunei, he invited groups and associations from Brunei to conduct trade seminars, adding that Taiwan's Department of Investment Services would be most willing to facilitate invitations for Taiwanese companies to attend the seminars.


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