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Chinese Ambassador Yu Hong Attended The Forum Held By The Chinese Enterprises Association In Brunei

On 17 October 2020, the forum themed Mutual Support and Overcoming Difficulties was held by the Chinese Enterprises Association in Brunei (CEAB) in Bandar Seri Begawan. H.E. Ms.Yu Hong, Ambassador of the People’s Republic of China to Brunei Darussalam attended the forum and delivered her remarks. H.E. Dato Dr Haji Amin Liew, Minister at the Prime Minister's Office and Minister of Finance and Economy II gave a keynote speech and answered questions on site. Also present were Economic and Commercial Counselor of Chinese Embassy Kang Wen, Deputy Minister of Finance and Economy Dato Dr. Haji Manaf, Permanent Secretary at the Ministry of Finance and Economy Dr Hajah May Fa'ezah, Director of FAST Harris, Chairman of CEAB cum President of Bank of China (Brunei Branch) Wang Xiaolin. Representatives from the Chinese enterprises in Brunei attended the forum as well.

Ambassador Yu Hong said in her remarks that the unexpected outbreak didn’t set back China and Brunei’s confidence and progress of fighting COVID-19 shoulder to shoulder. With the two nations’ joint effort, the economic and trade cooperation between China and Brunei has shown an upward trend. The bilateral trade has increased substantially. The highlights of anti-COVID 19 cooperation have sprang up and occupational education cooperation is on the ascendant.

Ambassador Yu Hong mentioned the Chinese positions on multilateralism and promoting a green recovery of the world economy advocated by Chinese President Xi Jinping at the 75th Session of the United Nations General Assembly. She also stressed the guiding principles in President Xi Jinping’s recent speech delivered in Shen Zhen SEZ ---China’s reform and opening-up will never stop. China is coordinating epidemic prevention and control with economic and social development, and the economy is recovering steadily. By establishing a "dual circulation" development pattern in which domestic economic cycle plays a leading role while international economic cycle remains its extension and supplement, China is willing to strengthen practical multi-tiered and broad-scoped cooperation with Brunei and other countries and regions, jointly promote Belt and Road Initiative, and bring new growth drivers to the economic and social development in the post-pandemic era.

Ambassador Yu Hong hopes the two nations enhance the practical cooperation and make the pie of economic and trade cooperation bigger continuously. She also hopes the Chinese enterprises in Brunei conquer the challenges brought by the outbreak, have a foothold in Brunei and contribute more to Brunei. It’s expected that the Bruneian government would create more favorable business environment for Chinese enterprises in Brunei, cultivate more local professionals and work with the Chinese government to ensure the long-term development of the bilateral cooperation.

Dato Amin Liew briefed on the strength of the business environment of Brunei, analyzed the current macro economic performance of Brunei, introduced emphatically 5 prioritized developing fields embracing downstream oil and gas industry, food, tourism, ICT and service sectors. Dato Amin Liew spoke highly of the contributions made by the Chinese enterprises in Brunei, such as Hengyi Industries, Muara Port Company, Huawei Brunei, China State Construction Engineering Corporation. He also praised the Chinese enterprises in Brunei for offering new jobs and new business opportunities to small and micro businesses of Brunei, and giving support to Brunei in training talent specialized in technology. Dato Amin Liew expected more Chinese companies would invest in Brunei, bringing more funds, technologies and managing experience to Brunei, hence promote the economic development of Brunei.

Dato Amin Liew answered questions posed by the Chinese enterprises during the Q & A session.

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