News From : DagangHalal.com (07 Jan 2010)
Move to open up Job and investment opportunities
Bandar Seri Begawan – A Halal pharmaceutical company from Vancouver will soon start a factory in Brunei to promote Halal pharmaceutical products to the Muslim world.
Viva Pharmaceutical will be opening a factory in Brunei to cater to the 1.9 billion Muslims around the world.
Canadian High Commissioner to Brunei Darussalam, Wendell Sanford, revealed this during an interview at his residence during a New Year’s Day Levee Open House yesterday.
With the opening of the factory, Brunei will become the hub for Halal pharmaceutical exports in the region and this will also open up investment opportunities in the Sultanate, said the envoy and added that the company is still in the planning stages and will be commencing its operations sometime this year.
The Canadian High Commissioner also spoke about increasing educational ties with the people of Brunei with a Canadian Education Fair that will take place on January 29 and 30 at the Rizqun Hotel.
Ten universities from all across Canada will be participating in the Education Fair.
“Trade and investment between Canada and Brunei are still at a modest level and yet to reach their full potential. Although the distance (between both the countries) may be partly responsible, both countries need to know each other well when it comes to economic and commercial opportunities,” he added.
“Brunei and Canada are both wealthy economies and both countries have important oil and gas sectors. Investment by both sides and joint ventures could greatly contribute to enlarging each other’s market base and presence in their respective region,” Mr Sanford said.
According to a press statement, these positive factors have strengthened Canada’s recent exPORT 61,6,68,50,131,45 While modest in proportion to overall Canadian exports, merchandise exports to Brunei surged to CA$18.2 million in 2008 from the 2006 levels, while Canadian merchandise imports from Brunei remained modest at $1.9 million in 2008.
The bilateral trade has been complemented by increasing Canadian investment and trade in services assisted by expressed interest to expand the Canadian presence in a number of sectors in Brunei.
Several Canadian firms have made considerable inroads in the environment services sector in Brunei and have established very successful joint ventures with local companies, mainly in the areas of soil remediation and the treatment of waste oil from Brunei Shell.
Under the umbrella of the Brunei International Financial Centre, the Royal Bank of Canada was the first foreign bank to be granted the first offshore licence to start operations in Brunei.
In 2008, National Petroleum (Calgary) and QAF Brunei Sdn Bhd signed a contract with Petroleum BRUNEI (Brunei National Petroleum Sdn Bhd) to undertake exploration of Block L, which is located mostly onshore on the northeastern part of Brunei. These include the Brunei-Muara District and parts of Tutong and Temburong Districts.
Seismic work was completed in the first half of 2009 to be followed by exploratory drilling.
The press statement also stated that a Geospatial software introduced by CARIS (Fredricton) is now being used to survey under the Ministry of Development.
“ICT is another sector where Canadian companies have been active over the past years.
“We provide assistance to our Brunei clients by matching their needs with the appropriate sources of Canadian products and services and by providing advice and assistance to Bruneian companies that have targeted Canada as an investment destination.
“Our trade commissioner service can facilitate contact visits by Bruneian officials or companies to Canada so that they can meet with key players in the Canadian industry.”
Mr Sanford said the open house was held to foster goodwill and he hoped that 2010 would be a great year for everyone.
The guests at yesterday’s event included Brunei Cabinet Ministers, ambassadors and high commissioners from foreign countries and the Canadian alumni.– Courtesy of Borneo Bulletin