China Adds Brunei To New Silk Road - Oil, Influence And “Belt and Road” Initiative

[damirUSBiH + 327]

China has a big plans with Brunei. Brunei’s oil and gas reserves are expected to run out within two decades. When completed, the first phase of the $3.4 billion (oil) complex on Muara Besar island, run by China’s Hengyi Group, will be Brunei’s largest-ever foreign investment project, and comes at a time when the oil-dependent country needs it the most. The Muara Besar project is promising over 10,000 jobs, at least half of which would go to fresh graduates. A $12 billion second phase will expand the refinery capacity to 281,150 barrels per day, and build units to produce 1.5 million tonnes per year (tpy) of ethylene and 2 million tpy of  paraxylene. Brunei are one of many countries which are part of  "Belt and Road" Initiative. It envisages linking China with Southeast Asia, Africa and Eurasia through a complex network of ports, roads, railways and industrial parks.

[Pavel + 384]

8 minutes ago, damirUSBiH said:

... The Muara Besar project is promising over 10,000 jobs, at least half of which would go to fresh graduates.... 

But, facts are that thousands of Chinese workers have been shipped in to build the complex.The Sultanate is hard-pressed for investments to diversify its economy, and in this sense the Chinese investments are important. The Brunei are colonized

[Petar + 76]

Total Chinese investment in Brunei is now estimated at $4.1 billion. According to the U.S.State Department, accumulated U.S. foreign investment in Brunei was just $116 million in 2012.( the latest figures available)

[franco + 96]

Something weird is happening. Everyone is fleeing from Brunei, only the Chinese are coming:) HSBC pulled out of Brunei last year, while Citibank exited in 2014 after 41 years. Bank of China, meanwhile, opened its first branch in the sultanate in December 2016.

[damirUSBiH + 327]

Yep. Economic interest, but more geopolitical: its trap for Brunei on South China Sea

[Pavel + 384]

China wants to invest and buy. They don’t waste time on silly slogans like “Golden Age” and “Special relationship”