The Brunei Economic Development Board (BEDB) and Darussalam Enterprise (DARe) are dedicated to promoting investment in Brunei and supporting business growth and development. As statutory bodies under the Ministry of Finance and Economy, both organisations play a key role in realising Brunei Vision 2035, Brunei’s national development plan.
The BEDB’s primary focus is on investment promotion and facilitation. Through its FDI Action & Support Centre (FAST), the BEDB offers a range of services to local and international companies looking to invest in Brunei. This includes organising investment promotion activities, providing guidance and support in developing business proposals, and facilitating the investment process from start to finish. Aftercare services are also provided to help companies expand their operations in Brunei Darussalam.
The BEDB is guided by the Brunei Darussalam Economic Blueprint, which identifies five key clusters for economic development.
The downstream oil and gas cluster is a natural fit for Brunei Darussalam, given its expertise and strength in the oil and gas sector. The government is keen to develop downstream activities in this area, including methanol, ammonia and aromatics value chain production. The food cluster is another area of focus, with a particular emphasis on increasing the production of halal, safe and high-quality food. The tourism sector is also growing, with opportunities for sustainable development of attractions that showcase the country’s biodiversity and cultural heritage. The services cluster covers a wide range of sub-sectors, including transportation and logistics, financial services, business process outsourcing and more. Finally, the ICT cluster offers opportunities to support digitalisation in the priority sectors.
DARe, on the other hand, focusses on industrial site management and enterprise development. It manages and leases 27 industrial parks across Brunei Darussalam, which are essential for the growth of manufacturing, logistics and other industries. Foreign investors or local businesses interested in leasing industrial land or ready-built factories can apply directly through DARe’s website. In terms of enterprise development, DARe offers a range of services to Micro, Small and Medium Enterprises (MSMEs). This includes capacity building and training programmes, financing support and advisory, and access to domestic and international markets.
Capacity building and training programmes include business bootcamps, mentorship programmes, food incubation programmes and more. The aim is to upskill businesses and provide them with the knowledge they need to start, run and grow their business. In the area of financing, DARe provides a Co-Matching Scheme to assist businesses with start-up or expansion costs. Businesses are given advice and support in their funding plan through links with commercial banks, angel investors and venture capital funds. DARe also has a strong focus on market access, working to grow local businesses nationally and internationally through business matching, export facilitation, and more.
Both BEDB and DARe are committed to helping businesses grow, succeed and play a role in realising Brunei Vision 2035. With their range of services and support, they are key players in promoting investment in Brunei and supporting the growth and development of businesses in the country.
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