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Brunei Eyes Eaga Funding
Real estate news By Izam Said Ya'akub
Oct 15, 2007
Bandar Seri Begawan - Brunei Darussalam may have a chance to seek funding for business proposals under the banner of the East Asean Growth Area (Eaga) after the Asian Development Bank, German Technical Cooperation (GTZ) and AusAid, the Australian Agency for International Development, have set aside funds aimed at helping growth within the sub-economic region. It. is hoped that the millions designated for Eaga will help bolster tourism, transport, infrastructure, natural resources, communications and smallmedium enterprises.
A report from Philippine newspaper Sun Star, quoted the Philippines' Trade and Industry Assistant Secretary Merly Cruz as saying a number of investment projects from the Bimp-Eaga region will be reviewed by the three international funding agencies during the Bimp Investment Conference on October 22-23 in Davao City. Cruz, who is double hatting as the Philippine senior official to the Bimp-Eaga, said the matching of venture projects from the region with international funding agencies is a big opportunity for the four countries to see their development plans finally realised in the coming investment conference.
The venture projects stemming from business groups and private investors in Brunei Darussalam, Indonesia, Malaysia and the Philippines are expected to be submitted formally to the three international funding agencies, ADB, GTZ and AusAid for deliberation and technical assistance during the upcoming conference. The Bimp Investment Con ference is one of the highlights of the upcoming 15th Senior Officials and 12th Ministers Meeting, which will gather top government officials from the four Eaga countries - Brunei Darussalam, Indonesia, Malaysia and the Philippines - to discuss development plans to boost the region's economy.
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