Four-fold jump in Brunei trade: Phoong
Published on: Saturday, October 28, 2023
Phoong visited Sabah booths participating Betcon23, the Asean East Growth Area Trade Exhibition in 2023.
Kota Kinabalu: Trade between Sabah and Brunei flourished four-fold in 2022 compared to 2017, said Sabah’s Minister of Industrial Development and Entrepreneurship (Mide), Datuk Phoong Jin Zhe.
He expressed optimism on the collaborative efforts between Sabah and Brunei after concluding his first official visit, recently.
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“The visit was aimed to establish a solid foundation for cooperation between Sabah and Brunei especially in industrial and business sectors, driving mutual economic growth,” he said in a statement.
During the two-day visit, Phoong met with Minister at the Prime Minister’s Office and Minister of Finance and Economy II cum Chairman of Brunei Economic Development Board, Dato Seri Setia Dr. Awang Haji Mohd. Amin Liew Abdullah to discuss enhancing bilateral trade relations.
He said both ministers agreed to strengthen cooperation, especially in trade and industrial development.
“We aim to introduce Sabah to more enterprises seeking overseas business opportunities, thus facilitating the growth of industries and businesses in Sabah.
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“During the Asean East Growth Area Trade Exhibition in 2023 (Betcon23) the Department of Industrial Development and Research (DIDR) under Mide facilitated 12 local companies from Sabah to participate and set up booths at the exhibition.
“The visit was incredibly fruitful. A solid foundation for future cooperation between Sabah and Brunei was laid especially in trade and industrial development.
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“Me and my department officials are committed to continuing the efforts to bring more positive news to the people of Sabah in the near future,” Phoong said.
Phoong led a delegation comprising his Permanent Secretary Datuk Thomas Logijin and representatives from various agencies whom also met entrepreneurs from Nanning, China.
They had met local business leaders and had dinner with Asean Business Advisory Council East representatives upon arrival.
“The government is committed to assist local businesses and encourage Sabah’s enterprises to expand beyond local markets and explore opportunities in Peninsular Malaysia and international markets,” he added.
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