The Implementation Agreement between Hengyi Industries Sdn Bhd, Energy and Industry Department at the Prime Minister's Office, EIDPMO and Brunei Economic Development Board, BEDB is a significant milestone for Brunei Darussalam in its continued objective towards a more conducive and pro-business environment.

According to the Minister at the Prime Minister's Office and Second Minister of Finance, the signing of the agreement is a testament to Brunei Darussalam's attractiveness to reputable international companies, as one of the top destinations for foreign direct investment.

Speaking at the Implementation Agreement Signing Ceremony between Hengyi Industries, EIDPMO and BEDB last afternoon, Yang Berhormat Pehin Orang Kaya Laila Setia Dato Seri Setia Awang Haji Abdul Rahman bin Haji Ibrahim said, in addition to contributing to the country's economic diversification and creating jobs for the local

The agreement was sign between EIDPMO represented by Dato Paduka Haji Jamain Bin Haji Julaihi, Permanent Secretary of Downstream and Power at the Prime Minister's Office, while Dato Paduka Dr. Awang Haji Mohd Amin Liew bin Abdullah, the Deputy Minister of Finance on behalf of the Brunei Economic Development Board, BEDB and Mr Chen Lian Cai on behalf of Hengyi Industries. The signing was witness by Yang Berhormat Minister at the Prime Minister's Office and Second Minister of Finance.

The Hengyi Industries' Crude Oil Refinery and Aromatics Cracker Complex on Pulau Muara Besar, is one of the largest single foreign direct investment the country has seen in recent years, raising optimism about the development aspects and opportunities this project would bring to Brunei Darussalam. Mr Qiu Jianlin, Chairman of Hengyi Industries in his Final Investment Decision, FID Announcement said, for phase 1 of this project value at 3.445 billion American dollars for the development of Hengyi's Refinery and Petrochemical complex on Pulau Muara Besar. This significant milestone demonstrates Hengyi's commitment to contribute to Brunei Darussalam's Economic development, which is in line with Wawasan 2035 in developing the downstream segment of the Oil and Gas industry. Also present, Yang Berhormat Dato Seri Setia Awang Haji Bahrin bin Abdullah, Minister of Development also as a member of FDI and Downstream Steering Committee; Dato Paduka Awang Haji Mohammad Roselan bin Hj Mohamad Daud, Deputy Minister at the Prime Minister's Office and Dato Paduka Awg Haji Suhaimi Bin Haji Gafar, Deputy Minister of Development.

Source:
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by BRUDIRECT.COM

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