Brunei Should Boost Image

Brunei should boost its image abroad in order to improve economic ties with other countries, the French envoy to Brunei yesterday said.

Speaking to The Brunei Times, Patrick Bonneville said it is important for Brunei to promote itself as an attractive business destination.

"There's an image problem as Brunei is not always immediately known. Brunei must create a label or image; that is lacking in my opinion," he said.

"I think Brunei authorities could organize some kind of lobbying to promote or organize more shows abroad," he said.

Referring to Brunei's recent participation in a trade show in Nanning, China, he said, "This should not be limited to just China, but also Japan, Korea, Europe so people know more of Brunei."

Bonneville said that one of the ways to "better insert Brunei in the global market" is by improving air links with the rest of the world.

"There are no direct flights to Europe, US or Japan. It's complicated to come here and it's expensive," he said.

Having one of the highest income per capita in Asia also works effectively to lure investors into Brunei, he said. "What attracts them more is the label. Brunei has the second highest per capita in the region, so the people are more demanding. The market is more competitive because of it.

"Winning the market in Brunei is more like a label of quality," he added.

Bonneville is also generally upbeat about the economic outlook of Brunei. "Economy here is quite prosperous, thanks to the oil and gas sector. It gives a very high standard of living in the region ... but the Bruneian authorities realize that one day this resource will disappear."

He said French companies are "quite prepared to accompany the diversification of the economy".

He said: "What would be interesting would be to promote renewable energy in this industry. Solar energy is quite obvious given the part of the world that we are. This is the kind of thing that can be explored. Renewable energy can lessen the stress on local resources."

He said infrastructure as one of the sectors that could be further explored for trade opportunities with France, especially in telecommunications and aviation.

According to government statistics, in the second quarter, 10.9 per cent of the nation's total imports come from the European Union.

Source: Wani Abdul Gapar, The Brunei Times, 20th December 2007

Think P+sitive

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I Cannot Do It

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It May Not Be Right For Me

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Contributed by Mdm Tan Hong Hong

Greetings From an Aspiring Business Student

Welcome to 347 Avenue, the weblog for business students with the aspiration to become successful entrepreneurs.

347 Avenue was originally a business group name which was formed in February 2007 for the Business For a Day assignment under the Enterprise Planning unit in The Business School. It was formerly a group running a small business and successfully made a name of the brand 347 Avenue. Although the business was merely a day project, the name lives on, and so this weblog was created dedicated to that name which holds the business aspiration strong towards the students of The Business School as well as other Business Institutions and Colleges in Brunei Darussalam.

347 Avenue, Business For a Day, February 2007

Our mission is to build and strengthen the passion of business and entrepreneurial knowledge dedicated to young aspiring business students currently learning the art, skill, theory and experience in all areas in business. Whether you are an undergraduate or just thinking of starting a business, this weblog will provide some handful tips and advices that may help you in your endeavours.

Our vision is to be part in empowering the rise of young local successful entrepreneurs and business owners in the nation. Now is the time to encourage the new generation the power and benefit of being in the business field. Independence is the future prospect of success. We need more people with these aspects in order to assist in the growth of the nation's economy.

This site is still currently under construction and will be up very soon. Your contributions and dedications toward this weblog will be highly appreciated.