PM to witness signing of MoU between MIDA, BIA in Brunei

PM to witness signing of MoU between MIDA, BIA in Brunei

23 Jan 2023

Prime Minister Datuk Seri Anwar Ibrahim will be witnessing the signing of a memorandum of understanding (MoU) between the Malaysian Investment Development Authority (MIDA) and the Brunei Investment Agency (BIA) during his two-day official visit to Brunei, starting tomorrow.

Foreign Minister Datuk Seri Dr Zambry Abdul Kadir said the MoU is a follow-up to the Sultan of Brunei’s Special Visit to Malaysia on Nov 28, which took place just after Anwar was officially appointed as the country’s 10th prime minister.

“It will provide an opportunity for both countries to explore potential investments that are of mutual interest,” he told reporters in a briefing here today.

Zambry said the trade between Malaysia and Brunei recorded an increase from 2021 to 2022 and the latter is the country’s 26th largest trading partner and sixth largest in ASEAN with total trade amounting to RM13.22 billion in 2022.

“For the January-December 2022 period, Malaysia’s exports to Brunei increased by 33.3 per cent to RM7.4 billion (US$1.68 billion).

“Imports from Brunei were recorded at RM5.82 bilion (US$1.21 bilion), an increase of 154.8 per cent from the previous year,” he said.

The official visit to Brunei is the second foreign visit for Anwar since assuming the position of prime minister.

He is expected to arrive at Brunei International Airport at approximately 3.30 pm tomorrow.

Source: Bernama