| In its effort to diversify the economy away from an over-reliance on oil and gas, the BEDB is developing several industry clusters based on maximising Brunei’s key strengths, and pursuing opportunities within these different clusters. |
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| EXTENDING THE OIL & GAS VALUE CHAIN |
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Petrochemicals
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| The BEDB is looking at extending the oil and gas value chain to get more out of Brunei’s hydrocarbon resources. In addition, to Methanol production at SPARK, the BEDB is actively looking at a number of other derivative industries based on Methanol such as polypropylene, acetic acid and polyacetyl. These can produce theautomotive components, laboratory equipment and engineering plastics in high demand today. The other project under consideration is an ammonia and urea plant capable of producing 2300 tonnes of ammonia per day and 3500 tonnes of urea per day. |
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Oil Refinery and Storage Facilities
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| Brunei Darussalam also has the potential to become a centre for crude oil refinery and storage facilities catering to the increasing demand for energy security, especially in the North Asia market. Brunei’s strategic location on the East- West trade route provides an ideal location for the setting up of an oil refinery and storage facility. |
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Metals
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| The BEDB is has signed a Memorandum of Understanding (MOU) with Alcoa, a US-based world leader in aluminum production, to build an aluminium smelter plant in Brunei. The MOU enables both parties to embark on the first of two distinct phases of study. Phase one will determine the optimum scope and dimensions of the proposed plant, an appropriate power delivery strategy, the most desirable location for the facility and associated port and infrastructure, it will also explore opportunities for synergistic development. It is envisaged that the facility would have initial operating capacity of 360 kilo tonnes per annum with potential for an eventual 600 to 700 ktpa. |
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| BUILDING ON BRUNEI’S BIODIVERSITY |
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Tourism
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In building on Brunei’s rich biodiversity the BEDB is interested in forming partnerships to pursue development in several areas. The area that holds the most potential is eco-tourism. Brunei Darussalam has committed more than half of its land area to conservation under the “Green Heart of Borneo Initiative”, a tri-country (Brunei Darussalam, Indonesia and Malaysia) network of sanctuaries on the island of Borneo that will protect the biological diversity of plants, animals and the island’s entire major water catchments. The BEDB is playing a supporting role to the Ministry of Industry and Primary Resources and the Brunei Tourism Board by looking into developing the relevant goods and supporting services for this industry.
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Aquaculture
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| BEDB is looking at building on Brunei’s already established Fisheries industry by further developing opportunities in aquaculture such as prawn and fish farming. Brunei has a number of advantages in this area that investors may capitalise on. Firstly Brunei’s environment-friendly practices mean that we have a clean and unpolluted environment, and the non-usage of antibiotics helps safeguard the absence of harmful fish pathogens. The absence of natural phenomena such as typhoons and the country’s warm temperatures are also suitable for aquaculture. There are opportunities for large-scale aquaculture farming, fish feed production and seafood processing. |
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Agriculture
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| In the area of agriculture, Brunei’s self sufficiency in eggs and poultry production has given rise to a potential for export. There’s also a potential to develop a feed mill in Brunei that will address the issues of supply of raw materials and logistic costs. Brunei’s steady supply of meat from its own cattle ranches in Australia also has the potential for export to Muslim consumers worldwide. Additionally, there is potential for large-scale vegetable farming and packing. BEDB is working closely with the Department of Agriculture to develop this sector. |
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Alternative Energy (or Renewable Energy)
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| BEDB is looking into the feasibility of various forms of renewable energy such as solar power, biodiesel and coal water mixture for power plants. BEDB is currently assessing the viability of project proposals from potential investors. |
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| LEVERAGING ON THE ISLAMIC BRAND |
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Islamic Business
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| Brunei has an established reputation for being a strong, pious, Islamic nation. In leveraging on this Islamic Brand, Brunei Darussalam is aiming to play a significant role in the global halal industry, which is currently estimated at more than US$500 billion. Brunei Darussalam launched its Brunei Halal Brand in 2007, to serve as a passport for business to tap into the huge market offered by the global halal industry. (More details available at http://www.bruneihalal.gov.bn/) |
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| The BEDB has identified two specific areas for development in terms of the Brunei Halal Brand. The first is a Halal Processing Hub, which would facilitate the processing of halal food and non-food products such as cosmetics and pharmaceuticals for export, primarily to non-Islamic countries with a large Muslim minority. This initiative is spear-headed by the Ministry of Industry and Primary Resources and the BEDB is committed to playing a strong facilitating role. |
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| The second area would be that of Islamic Financial Services. The BEDB is actively supporting the Ministry of Finance’s initiative of developing Islamic equity bonds and works closely with the Ministry’s own Investment Division to realise the projects. |
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| BUILDING ON LONG TERM CAPABILITIES |
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| Waste Management |
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| BEDB is looking into Waste Management to deal with domestic as well as industrial waste generated from its major projects at SPARK and PMB. BEDB continues to work with relevant agencies in managing the country’s waste and welcomes investors who have the expertise in the areas of engineered landfill, recycling, composting, incineration or even turning waste to energy. |
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Education
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| Another cluster which has great potential for development is the higher education sector. While education is under the purview of the Ministry of Education (MOE), the BEDB works closely with the Ministry and continues to facilitate investors’ plans to collaborate with local higher learning institutions and opening up learning opportunities for Bruneians. |
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ICT
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| Info-Communication Technology has been identified as one of the key catalysts for sustainable socio-economic development, thus the development of ICT will continue to be given priority. The Government has allocated a total of B$1.146 billion or 12.1% of the overall National Development Plan 2007-2012 Scheme Value for the development of the ICT sector. Some of initiatives include B$210 million to further enhance human capacity building and $185 million under e-Business Programmes to further develop SMEs in the country. |
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| With the BEDB’s own iCentre fully operational, there is potential for further development of the site into a business park to accommodate other ICT related activities in the fields of defence, telecommunications as well as research and development (R&D). The BEDB is also looking into the possibility of establishing a Data Centre in the country. |
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