BIC to get more Chinese investorssqwcgadmin
ABOUT 25 per cent or more of companies locating to the BioInnovation Corridor could be from China because of the geographical proximity and the size of the Chinese economy.
Gary Ho, managing director of BIC park manager SQW China Limited, expects a reasonably international portfolio of companies to be tenants in the industrial park.
He said companies from China, Japan, the United Arab Emirates and New Zealand have already signed letters of intent and are keen to set up their base in BIC.
But because of China’s proximity to the Sultanate and its huge economy, Ho said around 30 per cent of BIC’s tenants may come from China.
“Guangxi has the closest port to Brunei. In terms of a boat journey, from Brunei to Guangxi, that is just below 2,000 kilometres, in comparison to Singapore which is 2,400 kilometres (to Guangxi). That is about one hour by plane or an additional one day ship voyage,” he said.
Because Brunei is a small country and a fair percentage of it is reserved land under the Heart of Borneo initiative, Ho said the BioInnovation Corridor will have to collaborate with partners abroad to source raw materials.
He cited Brunei’s recent partnership with Guangxi Zhuang Autonomous Region, noting the opening of the Brunei-Guangxi Economic Corridor will also encourage Chinese investors to go to BIC.
“Guangxi has huge amounts of agricultural resources that would create a big potential for Brunei to acquire the type of raw materials for developing our food and biotechnology manufacturing,” he said.
Ho said products from Guangxi can be shipped to Brunei for processing and be given a “Made in Brunei” certificate of origin.
Source: Brunei Times