(Bandar Seri Begawan, 8th) Acting CEO of Brunei Economic Development Board Liang Yu-Ming delivered a speech at a hotel-hosted business networking event aimed at foreign delegates of the 2024 Asia Pacific ICT Alliance Awards, stating that the networking event is a unique opportunity to forge connections, encourage collaboration, and explore the ever-evolving prospects of business and technology, especially in the context of a dynamic regional environment.
He mentioned that the Brunei Economic Development Board is a statutory body that drives Brunei's economic diversification by focusing on three main functions: attracting investments, developing industrial land, and supporting enterprise development.
“It plays a crucial role in creating a conducive environment for businesses, especially in fields like technology and innovation, while facilitating partnerships among local and international stakeholders.”
Additionally, Brunei Economic Development Board Assistant Manager Derrick delivered a speech on opportunities in Brunei's ICT industry.
When introducing the Brunei ICT industry overview, he noted that Brunei has a GDP of USD 14.3 billion and a population of only 450,000, marking it as a vibrant market suitable for innovations focusing on efficiency and scalability.
Currently, the ICT industry contributes 2.3% to the national GDP, with the telecommunications sector being the major contributor. It also shows growth potential in other high-value ICT areas such as Artificial Intelligence (AI), data analytics, and the Internet of Things.
Moreover, the Brunei Authority for Info-communications Technology Industry provides ICT development programs like digital skills enhancement training programs and Coding.bn.