A new port trade zone (PTZ) will drive economic growth through the enhancement of export-oriented industrialisation and the promotion of sector diversification as well as employment growth, said Minister at the Prime Minister’s Office and Minister of Finance and Economy II Dato Seri Setia Dr Awang Haji Mohd Amin Liew bin Abdullah during the ground-breaking ceremony for an expansion project of the Muara Container Terminal yesterday.
The project, to be completed by the second quarter of 2027, includes the development of a PTZ aimed at streamlining trade processes and supporting regional industrial growth.
The expansion is also set to transform Muara Container Terminal into a vital hub for international trade and investment, fostering economic growth and enhancing connectivity between the Sultanate and China. The project not only underscores both nations’ commitment to economic partnership, but it also positions Muara Port as a strategic gateway to regional and global markets.
Spearheaded by Muara Port Company Sdn Bhd (MPC), the project also marks a historical milestone in the Brunei-China relations.
Dato Seri Setia Dr Awang Haji Mohd Amin Liew said, “Over the past few years, Brunei and China have shared a strong bond of friendship and cooperation, which is further strengthened by the establishment of the Brunei-Guangxi Economic Corridor (BGEC) in September 2014, which has been serving as an exemplary gateway for both nations to collaborate and establish synergistic business activities, infusing new momentum into the Belt and Road Initiative and furthering Brunei Vision 2035.” The minister also highlighted the project’s importance. “In 2022, the Brunei-Indonesia-Malaysia-Philippines East ASEAN Growth Area (BIMP-EAGA) region saw a notable increase in total trade in goods, rising by USD65.8 billion, spanning a vast area of 1.6 million square kilometres and home to a population of 79.8 million. As a key node in BIMP-EAGA, Muara Port plays a crucial role in facilitating trade between the region and western China through the International Land-Sea Trade Corridor,” he said.
He added, “With MPC’s expansion plan and efficient port handling productivity, we will be able to facilitate the expected growth in the import and export of cargo from the development of local and international trade.”
Ultimately, he said, “these efforts will facilitate in transforming Muara Port into a major regional shipping and transshipment hub”. Minister of Primary Resources and Tourism Dato Seri Setia Dr Haji Abdul Manaf bin Haji Metussin, Minister of Development Dato Seri Setia Awang Haji Muhammad Juanda bin Haji Abdul Rashid, Minister of Transport and Infocommunications Pengiran Dato Seri Setia Shamhary bin Pengiran Dato Paduka Haji Mustapha and Deputy Minister of Finance and Economy (Economy) Dato Seri Paduka Haji Khairuddin bin Haji Abdul Hamid were also present.
Source: Borneo Bulletin
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August 29, 2024
