Brunei construction industry insiders said Wednesday that the Brunei government's announcement of the abolition of cement import quotas is conducive to increasing domestic market activity, reducing cement prices and infrastructure construction costs.
The Brunei government has previously announced that from January 1 this year, the cement import quota system, which has been implemented for many years, will be abolished and the total amount of imported cement will no longer be controlled.
Haji Zakaria, a Brunei construction industry insider, told Xinhua that there is only one cement producer in Brunei, and the cement import quota system has inhibited market vitality, resulting in significantly higher cement prices in Brunei than in neighboring countries. He predicted that after the abolition of the quota, cement prices would fall sharply this year, which would be conducive to infrastructure construction.
Brunei is a member of ASEAN and an important country along the "the Belt and Road" initiative. Brunei Interior Minister Abu Bakar said at the end of last year that the two countries share common goals in many areas in the context of Brunei's "2035 Vision" and China's "the Belt and Road" initiative.
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