Labuan Must Not Miss Out On Borneo Economic Growth -- Lcc

By Jailani Hasan

LABUAN, Sept 5 (Bernama) -- Labuan must not miss out when it comes to seizing opportunities in the Borneo region’s economic growth, said Labuan Chamber of Commerce’s (LCC) chairman, Daniel Doughty.

As part of its drive to contribute to the Borneo region's economic prosperity, the LCC is participating in the Borneo Business Roundtable 2023 (BBR 2023) to highlight Labuan's strengths, particularly its thriving international financial services sector which has been a pivotal driver of the island's economic growth.

Themed ‘Connecting Borneo: Building the Regional Value Chain through Cooperation’, the event is co-hosted by the ASEAN Business Advisory Council and the ASEAN Business Advisory Council of Brunei Darussalam.

Held in in Jakarta, Indonesia today, the BBR 2023’s primary focus is on enhancing regional cooperation and promoting economic integration within the Borneo region.

Speaking to Bernama, Doughty emphasised the significance of Labuan's representation at the ASEAN economic forum.

“The LCC's involvement in the Borneo Business Roundtable 2023 reflects Labuan's commitment to actively participate in regional discussions and leverage its strengths in the international business and financial sector to contribute to the Borneo region's economic prosperity.

“Our participation in the roundtable provides the opportunity for our members to be part of the regional economy, enhance our networking, and at the same time position Labuan's interests in the regional Borneo economic space," he said.

The event has brought together various stakeholders to discuss strategies to boost intra-Borneo trade, attract foreign direct investments and implement innovative digital solutions. 

Notably, the event will also focus on Nusantara, Indonesia's new capital, and the 'DagangBorneo' digital marketplace.

A total of 75 participants, including business community leaders from various chambers, financial institutions, and business establishments, have convened from Indonesia, Brunei, Sabah, Sarawak, Labuan, Kalimantan Selatan, Singapore, the Philippines, Japan and Australia.

Participants are anticipated to gain invaluable insights into regional economic opportunities, enhance networking with fellow stakeholders, and engage in discussions on trade, investment, and sustainable development. 

Daniel said the roundtable is poised to be a vital platform for sharing the latest economic developments in Borneo, fostering collaboration among stakeholders, and exploring ways to promote economic growth and cooperation in the sub-region.

-- BERNAMA