12 Updates
Brunei beckons India's pharma, tourism industries (Comment, Special to IANS)
Photo Credit: , Getty Images

Brunei beckons India's pharma, tourism industries (Comment, Special to IANS)

Oct 20 2013, 5:40am CDT | by IANS

India's pharmaceutical and tourism industries should take a look at the Sultanate of Brunei Darussalam, where the two area hold immense potential for partnership. The island nation of 400,000 people, located on the north coast of the island of Borneo in Southeast Asia, is home to some of the world's virgin rainforests with mega biodiversity. It hosts thousands of species of flowering plants, palms, ferns, orchids, mosses, lichens and liverworts.

India's pharmaceutical and tourism industries should take a look at the Sultanate of Brunei Darussalam, where the two area hold immense potential for partnership. The island nation of 400,000 people...

Filed under: news

YouTube Videos Tweets

 
 
 

40 weeks ago

Brunei beckons India's pharma, tourism industries (Comment, Special to IANS)

Oct 20 2013, 5:40am CDT | by IANS

India's pharmaceutical and tourism industries should take a look at the Sultanate of Brunei Darussalam, where the two area hold immense potential for partnership. The island nation of 400,000 people, located on the north coast of the island of Borneo in Southeast Asia, is home to some of the world's virgin rainforests with mega biodiversity. It hosts thousands of species of flowering plants, palms, ferns, orchids, mosses, lichens and liverworts.

India's pharmaceutical and tourism industries should take a look at the Sultanate of Brunei Darussalam, where the two area hold immense potential for partnership. The island nation of 400,000 people, located on the north coast of the island of Borneo in Southeast Asia, is home to some of the world's virgin rainforests with mega biodiversity. It hosts thousands of species of flowering plants, palms, ferns, orchids, mosses, lichens and liverworts.

Bioprospectors have discovered a wide variety of chemicals in the flora of these tropical forests. The Borneo rainforests are some of the oldest in the world and are a reservoir of genetic diversity which offers a rich source of medicinal plants, high-yield foods, and other useful forest products.

Scientists from around the world are coming to Brunei to discover beneficial chemicals or compounds that occur naturally and which have huge scientific and medical applications.

China is eyeing Brunei to partner in its pharma industry as Borneo has for centuries supplied Chinese traditional medicine with important raw materials.

The Sultanate under the "Wawasan Vision 2035" is seeking a knowledge-based transformation of society. It has adopted a strategy to diversify its economy, based currently on oil and gas resources, and expand business opportunities through promotion of investment, foreign and domestic, both in downstream industries and in clusters beyond the hydrocarbon sector.

The government has identified the sultanate's rich biodiversity and educated workforce as key factors in promoting research and development (R&D) and attracting overseas investors to partner in projects.

Thus, the forestry department is going ahead with plans for a biotechnology industry to develop pharmaceuticals from the microbes found in the rainforests.

Japan-based National Institute of Technology and Evaluation (NITE) and Bruneian scientists are researching the possibilities of using microbes for pharmaceutical purposes.

Germany is another country looking to partner Brunei in pharmaceuticals culled from the Sultanate's diverse plant life.

After speaking to a cross-section of people during a recent visit to the country, this correspondent got the impression that there is a lot of opportunities in the R&D sector and Brunei can be a "valuable partner" for Indian pharma and biotech industry.

Healthcare industry observers point to how the world has in recent years seen a resurgence in the traditional, complementary and alternative system of medicine because of the rising medical cost.

Like elsewhere in Southeast Asia, India's Ayurveda and Siddha systems of medicare are in use in Brunei because of the millennial historical and cultural contacts between India and the region.

Brunei is bound in the north by the South China Sea and surrounded by Malaysia. The coastal position puts Brunei close to vital sea lanes linking the Indian and Pacific Oceans. Brunei's earliest known history dates back to 6th century, when it was called "Puni (a distortion of the Sanskrit "Baruni"), or "Poli". Then a Hindu-Buddhist kingdom, it had linkages with the Sumatran Srivijaya empire and the Majapahit empire of Java, Indonesia.

In the late 14th century, Brunei converted to an Islamic Sultanate when its ruler, Awang Alak Betatar, married a Muslim Johore princess from Malacca, and embraced Islam to become Brunei's first Sultan.

The total population of Brunei is a little over 400,000. About 67 percent are ethnically Malay, 16 percent Chinese, almost 12 percent Indian, European or Filipino, and 6 percent indigenous people like the Iban, an ocean-going subgroup of the Dayak, Dusun and the Melanau.

Although Brunei's official language is standard Malay, English is widely spoken and understood as the nation was a British protectorate till 1984.

Oil and gas exports account for the bulk of government revenues. But as reserves are coming down, Brunei in a bid to diversify the economy is marketing itself as a destination for eco-tourism and a financial centre.

Tourism professionals say pristine rainforests, unspoiled coral reefs, mangrove-covered islands, white sand beaches and accessible nature reserves offer visitors an array of eco-tourism options.

The discovery of oil in 1929 had brought a substantial number of Indians into Brunei in the sector and allied services, and later into other professions such as teaching, medicine, engineering, IT and banking.

India established diplomatic relations with Brunei in 1984 after it got independence from Britain. Brunei and India enjoy a fair degree of commonality in their perceptions of major international issues, say officials.

Brunei is a member of the Association of Southeast Asian Nations (ASEAN) and the Asian Pacific Economic Cooperation (APEC).

Brunei supports India's "Look East" policy which aims at broadening its strategic and economic outlook with Southeast Asian nations.

Indian High Commissioner L.D. Ralte said, during a recent visit by Prime Minister Manmohan Singh, there could be greater bilateral collaboration in certain sectors.

"There are areas that we need to concentrate on in order to improve our relationship further, such as direct connections in transport, mutual recognition of education degrees, diversification of our economic relationship (at the moment this is mainly hinged on our petroleum imports from Brunei) and easier movement of manpower between our countries."

There is also room for more cooperation in information and communications technology, particularly private sector collaborations and joint ventures.

Brunei is strategically located at the geographical heart of Southeast Asia. It thus holds the promise of becoming a hub of air, sea and Internet communication between India and the ASEAN countries.

Due to the small size of population and therefore consumer demand, most of the goods from India come into Brunei through re-exports via Malaysia and Singapore. The signing of the ASEAN-India Trade in Services and Investment Agreement in December is expected to boost bilateral trade and investment.

(Saroj Mohanty is a strategic analyst with IANS. He can be contacted at saroj.m@ians.in)

IANS

Source: IANS

 
Update
12

Tweets

 
 
Update
11

34 minutes ago

FULL TRANSCRIPT: What John Kerry said about Narendra Modi and India

Jul 29 2014 11:30pm CDT | Source: Business Standard

FULL TRANSCRIPT: What John Kerry said about Narendra Modi and India. Kerry said that the new Indian Government's plan, "Sabka Saath, Sabka Vikas", together with all, development for all - that's a concept, a vision th ...
Source: Business Standard   Full article at: Business Standard
 

 
Update
10

3 hours ago

DealBook: The New Bazaar: Online Shopping Catches On in India With Buyers and Global Investors

Jul 29 2014 8:48pm CDT | Source: NewYorkTimes-Business Day

E-commerce in India is attracting buyers in a society where Internet access is increasing, and international investor ...
Source: NewYorkTimes-Business Day   Full article at: NewYorkTimes-Business Day
 

 
Update
9

6 hours ago

GIC invests in India e-commerce giant Flipkart

Jul 29 2014 5:12pm CDT | Source: Business Times Singapore

July 30, 2014 12:53 AM[SINGAPORE] Singapore's GIC has invested in Flipkart, India's largest e-commerce company - making it one of several investors who have participated in Flipkart's latest round of fun ...
Source: Business Times Singapore   Full article at: Business Times Singapore
 

 
Update
8

10 hours ago

India: Tough Talk And The Bali Trade Facilitation Agreement

Jul 29 2014 1:20pm CDT | Source: Forbes Real Time

Last week India’s top trade negotiators told the World Trade Organization (WTO) that India would not support the package of trade facilitation measures that had been agreed to last December at the Bali ministerial. Because adoption of these measures must be done by consensus among WTO members by July 31, ...
Source: Forbes Real Time   Full article at: Forbes Real Time
 

 
Update
6

11 hours ago

Finmeccanica settles with Italy prosecutors to end Indian chopper probe

Jul 29 2014 12:22pm CDT | Source: Reuters India

MILAN (Reuters) - Italy's Finmeccanica said on Tuesday it had reached a agreement with prosecutors to settle legal proceedings over a high profile helicopter contract between one of its units and India, adding this did not equal an ackn ...
Source: Reuters India   Full article at: Reuters India
 

 
Update
5

15 hours ago

Maximize Your Gold Exposure: Buy Junior Miners That Trade Like Mispriced Call Options

Jul 29 2014 8:45am CDT | Source: SeekingAlpha

ByBen Kramer-Miller:If you're like me then you believe that the gold price is going to rise substantially over the next several years. I go into the details in a previous article so I won't delve too deeply here, but some of the basic fundamental drivers include: A massive increase in the money supply that will at some point lead to a massive decline in the purchasing power of the dollar. A d ...
Source: SeekingAlpha   Full article at: SeekingAlpha
 

 
Update
4

15 hours ago

India's food stockpiling and WTO stand-off

Jul 29 2014 8:24am CDT | Source: Reuters India

(Reuters) - India threatened to block a worldwide reform of custom rules last week, saying it wants an agreement on food subsidies and stockholding to run parallel to the trade facilitation pact. ...
Source: Reuters India   Full article at: Reuters India
 

 
Update
3

16 hours ago

Himachal bus tragedy: 20 killed after bus falls into a gorge

Jul 29 2014 7:31am CDT | Source: HeadlinesToday.in

The bus was on way from Shimla to Savera Khad in Sunni area of the district when the accident occurred near Ka ...
Source: HeadlinesToday.in   Full article at: HeadlinesToday.in
 

 
Update
2

17 hours ago

Others Are Selling But India's Adani Thinks It's A Good Time To Develop A Coal Mine in Australia

Jul 29 2014 7:01am CDT | Source: Forbes Real Time

In theory, construction could soon start in Australia on one of the world's biggest coal mines thanks to demand in India for a more reliable supply of electricity. In reality, it could be years before a sod is turned at the $16 billion Carmichael project 240 miles inland from the [. ...
Source: Forbes Real Time   Full article at: Forbes Real Time
 

 
Update
1

17 hours ago

Future Retail files papers with Sebi to raise Rs 1,600 cr

Jul 29 2014 6:33am CDT | Source: Bridgeville Public Library

Future Retail is the flagship company of the Future Group and is into organised multi-format retail business in India. The company has retail stores in various formats including food, fashion apparels, accessories and footwear, general merchandi ...
Source: Bridgeville Public Library   Full article at: Bridgeville Public Library
 

 

Don't miss ...

 

blog comments powered by Disqus

Latest stories

China's yuan weakens
Beijing, July 30 (IANS) The value of the Chinese currency renminbi, or the yuan, weakened by 30 basis points to 6.1645 against the US dollar in its central parity Wednesday, authorities said.
 
 
US announces new sanctions on Russia over Ukraine
Washington, July 30 (IANS) Washington has imposed new sanctions on Russia's energy, arms and financial sectors over the Ukraine crisis, US President Barack Obama said Tuesday.
 
 
EU to impose more restrictive measures against Russia
Brussels, July 30 (IANS) The European Union (EU) has agreed a package of "significant" additional restrictive measures targeting sectoral cooperation and exchanges with Russia, the European Council said in a statement Tuesday.
 
 
Green spaces impact birth weight positively
London, July 29 (IANS) Where expecting mothers live can also have a bearing on the birth weight of their babies as researchers have found that mothers who live near green spaces deliver babies with significantly higher birth weights.
 
 
 

Latest from the Network

Chris Pratt unsure of playing a superhero
Chris Pratt never imagined himself playing a superhero. The 35-year-old actor stars as Peter Quill aka Star Lord in James Gunn's 'Guardians of the Galaxy' and he's revealed he never saw himself taking on that kind of...
Read more on Movie Balla
 
Smartphones to replace room keys at Hilton hotels
The idea moves around the ability to use a mobile device to check in and choose a specific room based on a hotel's digital floor plan. This will also help guests who may lose key cards or leave them in the room. "...
Read more on Celebrity Balla
 
Former Brazil coach Scolari takes charge of Gremio
Rio de Janeiro, July 30 (IANS) Luiz Felipe Scolari has been appointed manager of Brazilian top-flight club Gremio, just two weeks after he resigned as Brazil coach. The 65-year-old replaces Enderson Moreira, who...
Read more on Sport Balla
 
Chinese graduate kills masseur to pay off debt
Shanghai, July 30 (IANS) A debt-ridden college graduate in China has been detained for allegedly murdering a woman who offered massage service at her downtown home. The body of the victim surnamed Shen, from a Guangxi...
Read more on Politics Balla
 
Alicia Silverstone throw's vegan bash
Alicia Silverstone threw a vegan bash at a farm for her son Bear's third birthday. The 'Clueless' star, who is married to Christopher Jarecki, invited friends and family to Farm Sanctuary's Southern California Shelter...
Read more on Celebrity Balla
 
Ethan Hawke has an 'intense friendship' with wife
Ethan Hawke says he has an ''intense friendship'' with his wife, Ryan Hawke. The 43-year-old actor, who previously claimed he didn't believe in monogamy, insists he has a ''fantastic'' relationship with his spouse of...
Read more on Celebrity Balla
 
China's yuan weakens
Beijing, July 30 (IANS) The value of the Chinese currency renminbi, or the yuan, weakened by 30 basis points to 6.1645 against the US dollar in its central parity Wednesday, authorities said. In China's foreign...
Read more on Business Balla
 
Only 3,200 tigers left in the wild
Geneva, July 30 (IANS/EFE) Of the 100,000 tigers that once roamed in the wild a century ago, only 3,200 are left behind, the World Wide Fund (WWF) for Nature has revealed in a report. WWF has also offered to assist...
Read more on Politics Balla
 
US sees 'steady' progress in Iran n-talks
Washington, July 30 (IANS) The chief US negotiator in Iran nuclear talks Tuesday cited "significant and steady" progress over the past six months, but would not say whether the negotiations would be further extended...
Read more on Politics Balla
 
Bradley Cooper learning to flip burgers
London, July 30 (IANS) Actor Bradley Cooper, who will be seen as a chef in his next film, tried to learn how to flip burgers at a fast food chain in preparation for the role. The "Hangover" star decided to practice...
Read more on Celebrity Balla