Brunei unexpectedly receives significant back-up from China
Healy Consultants Group PLC
10 January, 2017
China and Brunei have not been on best terms historically, but recent events may prove otherwise. Aiming to complete its "Vision 2035" the rather small, but thriving Sultanate of Brunei needs all the help it can find.
China became a well-known supporter of emerging economics worldwide and with the setup of the first branch even of Bank of China in Brunei, more foreign investment is expected to find its place. More and more Chinese investors want to invest in South-East Asia, and growing Brunei presents itself as a lucrative destination. Only five years ago, the bilateral trade between China and Brunei was merely 1.3 billion US$, but this number is expected to increase significantly over the coming decade, further closing to the "Vision 2035"
Furthermore, a new business development strategy between China and Brunei was discussed, further cemented by the words of the Minister of Home Affairs of Brunei, who said: "Brunei Darussalam and China have a long tradition of friendship based on mutual respect and understanding. Our bilateral relationship is growing even stronger with a wide range of cooperation including in energy infrastructure, agriculture, fisheries, education and tourism as well as increase in exchange between our people. Today, China is one of Brunei's largest trading partners."
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