Can Brunei be successful?
Both Brunei and Guangxi committed towards the success of the two linked projects and have signed an agreement to jointly invest $500 million for their development.
The BGEC and the BIC have eyed halal products manufacturing and export as its main development cornerstone. They are banking on Brunei’s strict halal requirements to be a selling point for Muslim customers as there’s a huge international market for halal food, pharmaceuticals and cosmetics.
Last year, a few companies have already pledged commitment to participate in the BIC, with a positive outlook on success.
It is hoped that policymakers will keep developing industrial parks, matching ambition with a strategic foresight.