Brunei keen on investment potentials in the SDC
KOTA KINABALU (Wed.) ? Negara Brunei Darussalam is keen on exploring investment opportunities in the Sabah Development Corridor (SDC), according to the Malaysian High Commissioner to Brunei, Dato? Ku Jaafar Ku Shaari.
Dato? Ku Jaafar made the remark after he attended a briefing on the SDC given by Executive Director of IDS, Datuk Dr Mohd. Yaakub Haji Johari, which was held at the IDS Conference Room here today.
The High Commissioner said Brunei was looking for opportunities to diversify its economy as its oil reserves are depleting. He said, for example, it has agents in Thailand to handle its rice requirement and Australia for beef.
Dato? Ku Jaafar said Brunei also planned to establish its Muara port as a transportation hub for the energy sector and it hoped to attract oil from Sabah and Sarawak ?Due to Sabah?s natural endowments and locational advantage, both Sabah and Brunei can complement each other in the energy sector,? he added.
The High Commissioner said that he had initiated a visit by heads of foreign missions to Miri, Sarawak and he would do the same for Sabah in the future. He said foreign diplomats generally were keen to find out more about the potential of the place being visited.
Earlier in his briefing Dr Yaakub said Sabah indeed has a lot to offer to investors from Brunei in the SDC. He said Sipitang, for example, could be a potential candidate to link up with Brunei for the development of the energy sector. This is in view of its proximity to the energy-intensive clusters of Labuan, Brunei and Bintulu. The Sabah Gas and Oil Terminal (SGOT) project, which is being spearheaded by Petronas, will be located toward the northern side of Sipitang and will be linked to Bintulu via Sipitang by an undersea gas pipe. The SGOT project is expected to lead to further opportunities for future contracts from other countries in the region, he said.
Dr Yaakub said a maritime academy would also be established in Sipitang to increase value capture in the oil and gas services. The academy will provide the human capital needed by the logistics, shipping as well as the oil and gas industries, he added.
Dr Yaakub said aside from oil and gas, Brunei investors could also consider participating in other sectors such as agriculture, livestock, tourism, logistics and shipping.
