Thursday, 6^th July 2023. Muara Port Company Sdn Bhd (MPC) and BIMP-EAGA Business Council (BEBC)Brunei signed a memorandum of understanding (MoU) at MPC Headquarters as they strive to enhance connectivity in the subregion, supporting trade, tourism, and investment which has direct impact by leveraging the existing infrastructure of the West Economic Corridor (WEC) and North-Western Economic Corridor (NWEC). The signing of the MoU between the BEBC and Muara Port Company demonstrates the commitment, aspirations, and dedication to fostering cooperation and harmony, thereby facilitating businesses in the sub-region.

Present at the event were the MPC Chief Executive Officer, BEBC Chair, Country Directors and Head of Clusters, MPC management and staff.

Signing on behalf of the BEBC was Yang Mulia Pg (Dr) Haji Haris bin Pg Hj Duraman, Chairman of BEBC Brunei, while Muara Port Company (MPC) was represented by Yang Mulia Mr. Zeng Caili, Chief Executive Officer of Muara Port Company Sdn. Bhd.  Witnessing the signing ceremony was Yang Mulia Awang Hj Alimen bin Hj Jaafar, BEBC Brunei - Country Director, and Yang Mulia Mr Lyu Guoli, Chief Financial Officer of MPC.

The event started with a welcoming remark by Yang Mulia Fazilah Yassin, Chief Operating Officer of Muara Port Company Sdn. Bhd.

He emphasized the importance of sustainable and competitive cross-border trade within the sub-region and beyond. Through streamlined rules, regulations, and procedures, he also highlighted the MoU will facilitate cross-border trading, integrate small and medium-sized enterprises (SMEs) into supply/value chains, and undertake joint trade and promotion initiatives.  

Yang Mulia Fazilah also explained that the main purpose of the MOU signing is to establish a general framework and intentions for collaboration and facilitation of common interests in Trade, Tourism, and Investments (TTI) among the sub-regions of BIMP-EAGA.

“We believe that by enabling shipping connectivity, promoting the free movement of goods and services, optimising common infrastructure and natural resources, and embracing economic complementarity, we can unlock tremendous potential for growth and prosperity” he added.

In his speech, The BEBC Brunei Country Director, Yang Mulia Awang Hj Alimen bin Hj Jaafar, thanking the MPC as their commitment demonstrated through the Signing of the Memorandum of Understanding initiatives reflects the MPC's determination to bridge the connectivity gap among BIMP member countries.  

“This enhanced connectivity will streamline the movement of people and goods, promoting ease of doing business within the BIMP-EAGA region and beyond. As this has been repeatedly discussed in the Transport cluster Meetings of the BIMP-EAGA member country, today we acknowledge and appreciate the tireless efforts made by MPC in establishing the very first direct connectivity route between Brunei Darussalam and China outside the BIMP-EAGA country” according to Haji Alimen .

Haji Alimen also emphasized through collaborative efforts as nations, we can forge an advantageous environment that actively encourages and facilitates trade, tourism, and investment, fostering sustainable growth and prosperity. Our unwavering belief rests on the foundation that by optimizing shipping connectivity, streamlining the flow of goods and services, leveraging shared infrastructure and resources, and acknowledging the intrinsic economic interdependence, we will have the capability to substantially augment the potential for comprehensive growth and prosperity.”

The signing of the MoU 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 conducive shipping and transshipment hub in the region as well as to deepen the economic and trade cooperation of the upgraded Brunei-Guangxi Economic Corridor (BGEC) signed earlier this year.  

BEBC is the official representation of the private sector for the BIMP-EAGA (Brunei Darussalam, Indonesia, Malaysia, and Philippines – East Asean Growth Area) and given the mandate to promote trade, tourism, and investment.

Muara Port is located on the northern coast of Brunei and serves as the primary gateway for the country’s international trade. Muara Port Company Sdn Bhd (MPC) has undergone significant changes since its inception on February 21, 2017, transforming the port into a modern and efficient centre for maritime trade. With ambitious plans, the company aspires to play an even more important role in the growth of Brunei’s economy and its surrounding areas.

In recent years, 80 percent of global supply chains have relied significantly on ports as critical hubs, and most traded products are transported across the seas. This has become critical as MPC is the sole operator and provides a variety of services to support maritime commerce, including berthing, cargo handling services for vessels of all sizes and types, and storage services for a variety of goods, including perishable goods, hazardous materials, and oversized cargo, which can be stored at Muara Port warehouse facilities and open storage areas in the Container Terminal Yard. In addition, MPC provides logistics and transportation services and solutions to ensure that cargo is efficiently and effectively moved to and from the port.

Since its establishment, MPC has been envisioned as a stable shipping and transshipment hub within the region, hence efforts have been made to realize the development of the BIMP-EAGA Transshipment Hub in Brunei Darussalam.  

The MoU signing between BEBC and MPC will also help the Brunei-Guangxi Economic Corridor (BGEC) initiative to transport products and resources directly to China via Brunei Darussalam.  

Overall, the signing between BEBC and MPC marks a significant milestone in strengthening business relations and fostering cooperation within the BIMP-EAGA region. It is expected that the collaboration will contribute to the economic growth and development of the region, promote trade and investment opportunities, and enhance connectivity and cooperation among the member countries.