Brunei, CETC Sign MoU for Digital Economy Development

• May 19, 2017

The government of Brunei Darussalam and the China Electronics and Technology Group Corporation, CETC International of the People’s Republic of China announced a significant step forward exploring opportunities of collaboration together through a memorandum of understanding MOU between the two parties. This move is following the Foreign Direct Investment and Downstream Industries Steering Committee’s approval to explore opportunities for collaboration with CETC to develop Brunei Darussalam’s digital economy and ICT industry capabilities. The MOU signing took place on the 15th of May 2017.

The MOU is in line with continued efforts to strengthen and diversify the country’s economy, while also enhancing Brunei Darussalam and China’s economic cooperation through collaboration and continuous exploration of mutual development opportunities. The signing of the MOU with CETC is part of the government’s drive towards attracting Foreign Direct Investment, FDI partners to develop a dynamic and sustainable economy as part of Brunei Darussalam’s national long-term development plan, Wawasan 2035. The focus on digital economy development is aimed at ushering and leveraging on technological changes that will develop industries with long-term competitiveness and contribute to economic diversification. It is envisioned that will create additional jobs and local businesses will be able to benefit from the economic spin-off. CETC is a state-owned company in the People’s Republic of China not only known for their ICT and digital solutions.

Source: https://www.brudirect.com/news.php?id=27463