A Korean-based business association is keen to invest into Brunei, but it needs to further understand the local economy first before pushing through with its plans.
The Korean Venture Business Women’s Association Daegu Gyeongbuk (KOVWADG) today signed a Memorandum of Understanding (MoU) with Brunei’s Women Business Council (WBC) to help it navigate around the local business scene.
Its chairwoman Lee Hae Yong said this would help the association see the kind of areas it could possibly tap into, especially when it relates to its technological expertise.
Despite the broad-ranged areas of potential cooperation, Lee said her association has identified some of the collaborations it wanted to pursue and they include the construction and halal food manufacturing industries.
Lee who is also CEO of Korean automatic car-washing machine producer Hansung Bravo is also looking to ride onto the partnership to see if there is a demand for her trade in the country.
“At the same time, we are also looking to develop more partnerships in the Halal food industry,” she said.
“We have the technological expertise and Brunei has the knowledge, combined both then we can tap strongly into the global food market,”
“But most importantly, we need to find ourselves local partners to help us move around Brunei’s investment policies and procedures,” she added.
The agreement signing ceremony was part of the event facilitated by Darussalam Enterprise (DARe) and the Brunei Economic Development Board (BEDB) at the Design and Technology (DnT) Building.
Singing on behalf of Brunei’s WBC was its chairwoman Datin Paduka Hjh Rokiah Hj Zakiah while Lee represented the KOVWADG.
The Bruneian | BANDAR SERI BEGAWAN