Friday, September 25, 2015
FRANCE and Brunei can expand their economic partnerships through investments in oil and gas, agriculture and tourism sectors.
According to Antoine Chery, head of economic and financial services for Southeast Asia at the French Embassy in Singapore, the possibilities for partnerships in the energy industry is “always there”.
Chery, who was in Brunei recently to give a presentation on Investor’s Day, said two of the the largest oil companies in the world are based in France.
One is the oil and gas company Total SA, which has had operations in Brunei for many years. The other is Technip SA, a French oil and gas services company engaged in project management, engineering and construction for the energy industry.
“So economic partnership and trade can always grow from there,” he told The Brunei Times in an interview held following an event at the residence of the French Ambassador to promote France as an investment destination for Brunei.
As for Brunei investments in France, Chery said prospective investors should consider agribusiness and tourism industries as these are the high-growth sectors in the European country.
“We have a population that is steadily increasing and that means there will be more people who are ready to pay for quality food that is also produced sustainably,” he said.
For the tourism sector, he said France is the world’s leading tourist destination with hotels having occupancy rates up to 80 per cent.
According to Euromonitor, a market research data provider, the country posted 85 million inbound arrivals in 2013.
Both domestic and foreign tourist spending played a major role in the French economy contributing seven per cent to France’s gross domestic product.
Chery said the high levels of growth have opened up channels for investments to develop tourism infrastructure.
“I think Brunei investors have a lot to offer in that area (in terms of investments) particulary in hotels. Paris is one of the world’s leading tourist destinations and we’re constantly aware of the fact that we need to upgrade our tourism infrastructure especially on the high-end part,” he said.
The Brunei Times