ASEAN Business Advisory Council (ASEAN BAC) Brunei recently participated in the ASEAN Business and Investment Summit (ABIS) 2024, the ASEAN Business Awards (ABA), and ASEAN BAC Interface with the Leaders held in Lao PDR alongside the 44th and 45th ASEAN Summits.
The Summit served as a strategic platform to amplify the private sector’s voice in driving policy reforms and positioning ASEAN at the centre of global economic interconnectedness. With the theme of “Enhancing Economic Connectivity and Resilience”, it serves as a strategic platform to amplify the private sector’s voice in driving policy reforms to the Priority Economic Deliverables of ASEAN and positioning ASEAN at the centre of global economic interconnectedness.
ASEAN is now ranked 5th largest economy in the world and is positioned to be number 4 by 2030. Australia, China, Canada and the Eurasian Economic Union are all going out to increase trade and economic relations with ASEAN.
Musa Adnin, ASEAN BAC Brunei Member and Managing Director of Adinin Group of Companies said, “Brunei is uniquely positioned to drive regional progress through our strategic focus on sustainable development, energy innovation, and economic resilience. As we look ahead to Malaysia’s ASEAN chairmanship next year, Brunei will continue to play a leading role in advancing initiatives like the Borneo Economic Community (BEC). By leveraging our strengths—such as a stable economy, digital transformation and leadership in energy—we are enhancing connectivity and collaboration across Borneo, positioning ourselves as a key driver of regional transformation. Our commitment ensures that Brunei remains at the forefront of ASEAN’s efforts to thrive in an increasingly interconnected and competitive global economy.”
During ABIS 2024, Musa Adnin participated in the ASEAN Northern Eurasia Economic Integration and Connectivity Panel, representing Brunei and ASEAN. At the Panel, he emphasized Brunei’s strategic focus on strengthening regional connectivity, innovation, food security, energy and manufacturing, and deepening economic ties between ASEAN and Northern Eurasia.
At the ASEAN Business Awards 2024, two Brunei companies were recognized for their outstanding contributions. Deladi Petroleum Services Sdn Bhd received the SME Excellence Award for Employment Outstanding Award, Musa Adnin, President of Deladi, accepted the award on behalf of the company. Deladi’s commitment to creating employment opportunities and supporting Brunei’s economic development was widely acknowledged.
Poni Divers was honoured with the CSR Outstanding Award for its leadership in corporate social responsibility, particularly in environmental sustainability and community-driven projects. Mohammad Tahsin Wong Abdullah @ Thye Sing Wong, CEO and Founder of Poni Group, and Anna Aziz, Chief Business Officer of Poni Group, proudly received the award in recognition of Poni’s impactful initiatives in Brunei.
On 10 October, Musa Adnin, ASEAN BAC Brunei Council Member and Managing Director of Adinin Group of Companies represented Brunei Darussalam at the ASEAN Leaders Interface Meeting with Representatives of ASEAN-BAC in Vientiane, Laos, alongside ASEAN heads of state, including Prime Minister of the Lao People’s Democratic Republic, Sonexay Siphandone; Vice President of the Republic of Indonesia, KH Ma’ruf Amin; President of the Philippines, Ferdinand Romualdez Marcos Jr. ; Cambodian Prime Minister, Samdech Thipadei Hun Manet, and Vietnamese Prime Minister, Pham Minh Chinh.
At the Interface, ASEAN BAC presented recommendations on strategic priority areas of Trade and Investment Facilitation, Digital Transformation as a Catalyst, Green Energy Transition and ASEAN BAC Legacy Projects. The meeting with the Leaders serves as a critical milestone for ASEAN to enhance regional cooperation and reaffirm its commitment to sustainable, inclusive growth for the future. By outlining concrete actions, ASEAN is positioning itself to become a resilient and globally influential economic region.
The ASEAN Business and Investment Summit 2024 also featured the handover of the ASEAN BAC chairmanship from Lao PDR to Malaysia, with Malaysia set to lead in 2025. Malaysia’s chairmanship will prioritize digital transformation, sustainability, and SME development, areas crucial for advancing ASEAN’s economic goals. ASEAN BAC Brunei looks forward to supporting ASEAN BAC Malaysia and collaborating on these priorities to continue strengthening regional economic integration.
A key initiative for 2025 is the Borneo Economic Community (BEC) that is being co-chaired by ASEAN BAC Brunei, which aims to enhance economic cooperation between Brunei, Sarawak, Limbang, Labuan, Sabah and Kalimantan as part of Borneo’s integrated development. Building on the groundwork laid during Indonesia’s ASEAN chairmanship, which focused on the development of Kalimantan as the new capital, Nusantara, BEC will drive forward efforts to ensure that territories are well-positioned to benefit from this regional transformation. The Borneo Economic Community will emphasize sustainable development, digital transformation, infrastructure expansion, and cross-border trade, boosting economic opportunities for all Borneo regions. These efforts will be aimed at creating seamless connectivity and collaborative growth across Borneo, ensuring the integration of the East ASEAN Growth Area (BIMP-EAGA), which includes Brunei, Indonesia, Malaysia, and the Philippines. With initiatives such as improved transportation links, energy cooperation, and environmental protection, BEC will strengthen Borneo’s role in ASEAN’s broader economic landscape.
As part of this initiative, Brunei is committed to fostering regional partnerships and working closely with Sarawak, Sabah, and Kalimantan to unlock Borneo’s economic potential, enhance its competitive position, and drive inclusive and sustainable growth. The BEC initiative aligns with ASEAN’s long-term vision for economic integration, ensuring that Borneo plays a significant role in the region’s future prosperity.
THE BRUNEIAN | BANDAR SERI BEGAWAN
