Cover of The Report: Brunei Darussalam 2016

The Report: Brunei Darussalam 2016

Commanding the second-highest GDP per capita of all ASEAN nations, at $40,979 in 2014, Brunei Darussalam remains one of the most advanced economies in the South-east Asian region. This is in large part due to the Sultanate’s well-developed energy sector; however, with oil and gas prices falling substantially from mid-2014, new efforts are being made to increase the efficiency of production and diversify the economy to ensure future stability and sustainability.

Despite economic and legal changes now under way, Brunei Darussalam remains well positioned to continue on its current trajectory of steady economic growth and political stability. The increasing focus on economic diversification, and the ongoing growth of the non-energy sectors, bodes well for the Bruneian economy, as does further exploration and improved efficiency in the oil and gas industry. Furthermore, the development of local capacity across various industries should help ensure sustainable growth, and the coming years will see Brunei Darussalam further ensconce itself within both the ASEAN and global economies.

 

OBG & Brunei Darussalam