Food Industry Focus

Food industry is one of the main investment sectors. The Minister at the Prime Minister's Office and Second Minister of Finance and Economy said that towards the industry's growth, several strategies have been identified to reduce the gap within the ecosystem and value chain industry.

According to Yang Berhormat, three aspects will be focused on under the food industry namely primary production through cooperation with the Ministry of Primary Resources and Tourism; secondary production to ensure the overall value chain potential to be maximised in the country such; and supporting industries such as logistics and cold storage. In this regard, a Memorandum of Understanding, MoU was signed on the 10th of December 2019 between the Ministry of Finance and Economy Strategic Development Capital Fund and 8F Asset Management Private Limited from the Republic of Singapore. The MoU will provide the investment cooperation framework for an Atlantic Salmon Fish Farm facility using the Recirculating Aquaculture System where the annual production capacity is estimated to be at 10 thousand tonnes of fish. The project is expected to create 145 job opportunities, and will supply fish products to regional and local markets.

Source: Radio Television Brunei