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Bandar Seri Begawan, Aug 6: Oil rich Brunei may seek foreign expertise to revamp its economy, a senior minister said on Wednesday.
Deputy chairman Abdul Rahman Taib of the newly formed Ministerial Economic Council (MEC), told a news conference that the oil and gas sector, the mainstay of the tiny nation, will be one of the areas of focus in the restructuring.
He was speaking after MEC's first meeting, which was chaired by foreign minister Mohamed Bolkiah.
Abdul Rahman said that under a scheme, specific areas for diversification of the oil sector in downstream petroleum products will be identified.
However, he denied that MEC, set up by the sultan of Brunei last month, was formed to counter problems caused by the collapse of the country's biggest company, Amedeo. Bandar Seri Begawan, Aug 6: Oil rich Brunei may seek foreign expertise to revamp its economy, a senior minister said on Wednesday.
Deputy chairman Abdul Rahman Taib of the newly formed Ministerial Economic Council (MEC), told a news conference that the oil and gas sector, the mainstay of the tiny nation, will be one of the areas of focus in the restructuring.
He was speaking after MEC's first meeting, which was chaired by foreign minister Mohamed Bolkiah.
Abdul Rahman said that under a scheme, specific areas for diversification of the oil sector in downstream petroleum products will be identified.
However, he denied that MEC, set up by the sultan of Brunei last month, was formed to counter problems caused by the collapse of the country's biggest company, Amedeo.
Copyright © 1998 Indian Express Newspapers (Bombay) Ltd.
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