One of the main reason is, as the country population is small, instead of producing, the country prefer to import especially in consumers products, such as F&B, retail, etc. Brunei, the country’s manufacturing industry is not much developed yet. The export value from Malaysia alone for the year 2008 is valued at RM1.4 billion. Bilateral trade between Malaysia and Brunei for 2008 recorded an increase of 7.3 per cent.
There are various industries that SMEs and companies can tap into. For example, the Brunei youth development. The government have set-up a dedicated Youth Development Grant. This grant is meant for any programs that assist in the country youth development and if our SMEs and companies are in youth development products or services, they can be involved in this youth development program. government are also looking into
Brunei is currently looking into improving their food security. This is also one of the area of opportunity that our SMEs can grab and venture into. The Brunei government is encouraging their SMEs into this sector. We can offer our expertise and technology to cooperate in their food security sector.
Health industry is also another area where we can offer our product & services. We can provide our medical facilities which are known for its international equipment and services. Our Malaysian government are emphasizing health tourism, especially in Penang and Malacca – to offer this to Bruneians. Companies from Brunei can co-operate and partner with Malaysian health service providers to establish such health services or center here in Brunei.
Currently Brunei is Malaysia’s fourth biggest tourism market. It is certainly a very important market to Malaysia.
Malaysia is actively promoting its tourism industry. Brunei also is promoting their tourism industry. One of their plans to boost their tourism industry is by partnering with Malaysia for joint tourism package which includes Malaysia & Brunei tourism destinations.
Brunei is also keen to form joint ventures with foreign partners in the argo based industries.