Muara Port Company Sdn. Bhd (MPC) supports the BIMP-EAGA Trade Convention 2023 (BETCON 2023)
In a collaborative effort to support tourism, trade, and investment (TTI) in Brunei Darussalam, Muara Port Company Sdn.Bhd. (MPC) is partnering with the Brunei Economic Development Board (BEDB) for Brunei Darussalam-Indonesia-Malaysia-Philippines East ASEAN Growth Area (BIMP- EAGA) Trade Convention 2023 (BETCON23) that took place from Wednesday, October 25th – to Sunday, 29th at the Bridex International Convention Hall, Jerudong.
The event is in conjunction with the 26th BIMP-EAGA Ministerial Meeting and related Meetings supported by the Ministry of Finance and Economy of Brunei Darussalam. The event was scheduled to draw around 300 vendors and 1,000 delegates from BIMP-EAGA regions, as well as BIMP-EAGA Development Partners, International Vendors.
On Thursday, October 26th. The opening of the BETCON 23 was officiated by the Honorable Minister at The Prime Minister’s Office and Minister of Finance and Economy II, Dato Seri Setia Dr. Awang Haji Mohd Amin Liew Abdullah. The Minister delivered his opening remarks followed by a speech from the Deputy Director of the General Office of the People's Government of Guangxi Zhuang Autonomous Region, Madam Liu Guoye.
BETCON23 provides a venue for enterprises from the BIMP-EAGA region and beyond to present their products, services, and investment prospects. It also provides a unique opportunity for networking, knowledge exchange, strategic alliance formation, and the strengthening of economic ties between the BIMP-EAGA regions, BIMP-EAGA Development Partners, and International Vendors.
The primary goal of BETCON23 is to promote trade, tourism, and investment that complement the outcomes of the five strategic pillars of BIMP-EAGA Vision 2025: (1) enhance connectivity, (2) establish the sub-region as Asia's food basket, (3) promote BIMP- EAGA as a premier tourism destination, (4) sustainably manage natural resources, and (5) promote people-to-people connectivity.
The collaboration with MPC combines the objectives and strategic outcomes of the BIMP-EAGA Vision 2025 (BEV 2025), Brunei Darussalam's Service Industry Roadmap (Maritime), MPC's vision of being a stable shipping and transshipment hub in the region as well as deepen the economic and trade cooperation of the upgraded Brunei-Guangxi Economic Corridor (BGEC) signed earlier this year.
On Thursday, February 2nd, 2023, the Government of Brunei Darussalam and the People’s Government of Guangxi Zhuang Autonomous Region, People’s Republic of China (PRC) signed an upgraded Memorandum of Understanding. Among the revised MoU's objectives are both parties' agreement to strengthen collaboration and development in the BIMP-EAGA region, as well as progress made in BGEC cooperation. The signed agreement is also expected to expand Brunei Darussalam-Guangxi economic and commercial cooperation, contributing to the development of various BGEC cooperation projects.
In addition, BGEC and Brunei Darussalam recognize the importance of Agribusiness (Food Basket) as one of the strategic pillars of BIMP-EAGA cooperation. The two parties agree to work together to promote trade and investment in agriculture, fisheries, and infrastructure, particularly in Palawan, Zamboanga, and Bangsamoro Autonomous Region in Muslim Mindanao (BARMM) in the Philippines-EAGA. As a result, it promotes inclusive growth and provides possibilities for farmers and fishermen in the region.
Furthermore, to solve specific transportation and logistical challenges, such as those linked to CIQS (Customs, Immigration, Quarantine, and Security), stakeholders from the four-member sub-region are working to boost TTI. This includes the new system, which allows for more open trade movements, revitalizes air, land, and sea links to increase tourism, and encourages green power and energy investments.
Brunei, as the current Chairman of the main Brunei-Indonesia-Malaysia-Philippines East ASEAN Growth Area Business Council (BEBC), has planned this international event as part of the BEBC's efforts to carry out the BIMP-EAGA Leaders’ mandate for the BEBC as a private sector to establish collaboration and expand our networking to promote trade, tourism, investment, and development of the sub-region through the BEBC platform.
As part of the BETCON2023 event, a gala night was held on October 25th at the Tarindak D’Seni where awards were presented to recognize the individual contributions to the growth of BIMP-EAGA, and one of the recipients of the Business Leadership Award was Mr Lyu Guoli, the Chief Financial Officer of MPC.
MPC continues its efforts to collaborate and contribute to the economic growth of and development of the region, promote trade and investment opportunities and enhance connectivity and cooperation among the member countries.