July 12, 2022

Oman to explore aquaculture investment opportunities in Brunei

Dato Dr Hj Amin Liew Abdullah, Brunei's Minister of Finance and Economy II, said the the Oman Brunei Investment Company (OBIC) is looking into additional investment opportunities in aquaculture, particularly in salmon farming in Brunei, Fish Information & Services reported.

Brunei-based shrimp exporter, Golden Corporation, is already 50% owned by OBIC.

During the opening of the Oman-Brunei Darussalam Cooperation Dialogue, the minister that the company was harvesting 500 tonnes of shrimp annually when OBIC purchased a share in Golden Cooperation back in 2019.

He said despite difficulties caused by COVID-19, Golden Corporation was able to increase output by another 135 ponds, harvest more than 4,000 tonnes of shrimp, and improve production capacity, cold storage facility, as well as manufacturing and transport related logistics.

With investments in the aviation, healthcare, tourism, hospitality, manufacturing, telecommunications, education, and food manufacturing, OBIC has a total capital of US$200 million.

In order to promote more investment between the two nations, the Oman Investment Authority and Brunei Investment Agency jointly established the private equity fund known as OBIC in 2009.

The Brunei-Oman Joint Committee meeting also decided to reopen discussions about joint ventures in the food, tourism, and agricultural sectors.

-      Fish Information & Services