BBYB 2021

164

Borneo Bulletin Yearbook 2021

Brunei as a transshipment hub in

ASEAN

By leveraging on Beibu Gulf Port’s extensive

expertise and capabilities, MPC has contributed

signi cantly to Brunei’s economic diversi cation

efforts. The Sultanate has raised the ef ciency of

its container port operations by 60 per cent since

takeover, in addition to achieving a higher trade

volume by 20 per cent.

Minister at the Prime Minister’s Of ce and

Minister of Finance and Economy II Dato Seri

Setia Dr Awang Haji Mohd Amin Liew bin

Abdullah said this in a recorded keynote speech

at the 11

Pan-Beibu Gulf Economic Cooperation

Forum in October 2020.

Brunei, rich in natural resources such as oil and

natural gas, is located at the centre of the Brunei

Darussalam-Indonesia-Malaysia-Philippines

East ASEAN Growth Area (BIMP-EAGA). The

Brunei-China cooperation not only strengthens

the connection between China and BIMP-EAGA

countries, but also bene ts China-ASEAN

cooperation as well as the Belt and Road Initiative.

He also noted that ASEAN and China are in

the middle of establishing a multi-dimensional

logistics network with the New International

Land-Sea Trade Corridor. This corridor promotes

a more ef cient logistics network by utilising

multiple transport methods and facilitates trade

between ASEAN and Western China.

With strong efforts by China in recent years to

promote the development of smart ports in Beibu

Gulf, coupled with the strategic location and

connection with ASEAN member countries, Brunei

is looking at the opportunity through the existing

cooperation in Brunei-Guangxi Economic Corridor

to play a stronger role in the New International

Land-Sea Trade Corridor.