To many people, Brunei seems to be a mysterious country. Benefiting from the successive discoveries of oil and gas fields in the past century, this pocket-sized country with a population of just 420,000 and an area equivalent to Shanghai is now a wealthy oil kingdom whose per capita income ranks second in the ASEAN countries. However, as was the case with the Middle East countries prospering on oil, Brunei’s economy was once hit hard by plummeting oil prices. Brunei is forced to pursue an “Economic Diversification” strategy under harsh challenges. The Belt and Road Initiative proposed by China has emerged at the right time, providing Brunei with an opportunity for economic development. Now, Brunei is attracting more and more Chinese-funded enterprises to invest and start their own businesses.
A Mysterious Pearl of Southeast Asia - Brunei
The Belt and Road Initiative offers many opportunities for Brunei, including opportunities for investment opportunities and interconnectivity. It will enhance our infrastructure, promote trade and financial development, deepen cultural exchanges and help Brunei achieve its goal of diversifying its economy,” said Nor Ashikin Johari, deputy secretary of the Ministry of Foreign Affairs and Trade in Brunei, in an interview with the 21st Century Business Herald. As an important country along the “Maritime Silk Road in the 21st Century”, Brunei is attracting more and more Chinese-funded enterprises to invest and start their own businesses. The Belt and Road Initiative has brought Brunei to a new stage of development. With many key projects commenced, the construction machinery from China has shown in Brunei. XCMG is a main force in these construction projects.
XCMG Complete Sets of Cranes Are Seen Along the Coastline in Brunei
In 2016, the construction of the largest cross-sea bridge in Brunei, the Muara Bridge, was formally commenced. In the equipment procurement bidding, XCMG gave full play to its domestic and overseas advantages and won the bid for the Pulau Muara Besar Bridge project in Brunei as the supplier of all the construction machinery products needed in the project.
XCMG Cranes Contribute to Brunei Construction
The PMB petrochemical project Brunei, which is included as one of the first key projects under the Belt and Road Initiative, was officially launched. The first phase of the project needed an investment of USD 3.45 billion. Recently, the project construction has commenced, and more than 30 crane products of XCMG, including crane trucks and crawler cranes, are operating busily throughout all corners of the construction site. According to the person in charge of the project, the intensive construction phase will be started next year. The first 4,000t crawler crane in the world is expected to be delivered from XCMG to the construction site on the island next year.
XCMG Cranes Operating for the PMB Petrochemical Project in Brunei
Actively seizing the opportunity of the Belt and Road Initiative, XCMG utilizes its brand and product advantages to work closely with Chinese-funded companies and local partners. With deep commitment, it develops targeted sales and service policy based on local market characteristics and gradually improves its market sales and service network in Brunei. In the next five years, Brunei will become one of the key markets for XCMG in Southeast Asia. Owing to the excellent crane quality and sound services, XCMG has become a preferred brand for construction companies in Brunei.