India and Brunei to Have Joint Investment in Hotel Sector

Introduction

India and Brunei will explore the possibilities of joint venture investment in the field of hotel industry and infrastructural development. Brunei will also consider investing in India’s hotel sector, which has been opened up for 100% foreign direct investment. This was decided at a meeting between Minister of Industry and Primary Resources of Brunei, Mr. Pehin Dato Yahya and Union Tourism Minister Shri Subodh Kant Sahai held here today.

It was also decided in the meeting that Tour Operators and Travel agents of both the countries may cooperate and explore the possibilities for promoting package tours in either of the countries. Both the countries will also cooperate in exchanging information and know-how for development of tourism in their respective countries. India also offered to sponsor a visit by a team of tour operators / travel media from Brunei to India on a familiarization tour under Ministry of Tourism’s hospitality scheme.

Earlier in his welcome address Shri Sahai said that India and Brunei have enjoyed traditionally close and cordial bilateral relations sustained through regular high level political contacts.

Mr. Yahya in his address appreciated the friendly relations between the two countries and emphasised upon the importance of pursuing a closer relationship based on the emerging potential in the tourism sector in the two countries.

Source

Press Information Bureau , 18 October, 2012