Brunei chosen for Bank of China expansion

Bank of China (BOC) has opened its first ever branch in Brunei, providing an important link between the Chinese and Bruneian economies.

BOC ranks among the most influential financial institutions globally, with a presence that spans 49 countries and regions across the world.

Bruneian Minister of Home Affairs Haji Awang Abu Bakar said the expansion will "help Brunei to satisfy its demand for achieving Vision 2035, especially in serving Foreign Direct Investments, developing Small and Medium Enterprises and to promote bilateral economic and trade relations between Brunei and China."

"The coming to Brunei of Bank of China marks a new stage of cooperation between China and Brunei," Chinese Ambassador to Brunei Yang Jian said in her speech.

"It is my firm belief that the Brunei Branch of Bank of China (Hong Kong) will provide high quality financial services to Bruneian enterprises as well as China's enterprises, serve the local society, and help further promote the economic and trade cooperation between China and Brunei.”

Xu Luode, executive vice president of BOC, said that the opening of the Brunei branch is in the spirit of with the trend of growing cooperation between China and Brunei, which will promote bilateral trade and financial cooperation.

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SOURCE: [Borneo Bulletin]