IBC Calls for Stronger Business Collaboration to Unlock Borneo’s Economic Potential

At the Brunei Business Conference in Bandar Seri Begawan, IBC’s VP for International Affairs and Operations, Noto Suoneto, emphasized the need for stronger business collaboration across Brunei Darussalam, Indonesia, and Malaysia to unlock Borneo’s economic potential through greater cross-border trade, investment, and connectivity.  

Building on the discussions and key takeaways from IBC’s participation in the Borneo Economic Forum, held in Kuching, Malaysia, in early October, Noto highlighted several priorities for advancing economic cooperation across the island. These include strengthening cross-border electricity interconnectivity, developing joint industrial hubs to attract investment and build stronger regional value chains, and accelerating digital transformation by enhancing the capabilities of businesses and talent across Borneo, particularly in emerging fields such as Artificial Intelligence (AI). 

He also underscored the importance of translating these opportunities into concrete, business-led initiatives through stronger collaboration between the private sectors of the three countries. 

The Brunei Business Conference brought together more than 500 business leaders and policymakers from across Borneo, representing Brunei Darussalam, Sabah and Sarawak in Malaysia, and Kalimantan in Indonesia. The conference also provided an opportunity to identify concrete areas for future collaboration. As a member of the Borneo Economic Community (BEC), IBC will continue working closely with BEC and its stakeholders to advance these priorities, facilitate cross-border business partnerships, and turn shared economic opportunities into tangible initiatives across Borneo.