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Economic News

Competition heats up in Brunei Darussalam’s telecoms industry
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Faced with an increasingly competitive marketplace, Brunei Darussalam’s telecoms operators are working to broaden their services as they look to attract new customers and gain market share. The coming months are expected to bring significant developments across the Sultanate’s telecoms industry, in the form of infrastructure advances and a regulatory overhaul. Expansion strategies, which include…
Economic News

Fiscal wake-up call for Brunei Darussalam
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Amid concerns that Brunei Darussalam’s budget deficit could exceed earlier forecasts, Pehin Dato Abd Rahman Ibrahim, the second minister of finance, delivered a precautionary speech in January, emphasising the importance of public spending cuts. Like many energy producers, Brunei Darussalam is feeling the pressure of falling oil and gas prices, having traditionally depended on hydrocarbons earnings…
Event

BITC Expo 2016

This event aims to encourage greater trading activities between countries and provide excellentopportunities for all local or international exhibitors to reach their target segment, and increase theirproductivity and market share. There will be an expected high turnover of visitors from both local and foreign business,entrepreneurs, investors and the general public. There will be around 250 exhibitors…
Economic News

Brunei Darussalam Year in Review 2015
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While 2015 saw some progress in Brunei Darussalam’s ongoing diversification efforts, the challenging external climate, together with an increasingly competitive regional environment, further underscored the importance of pursuing non-oil revenue sources. Lower global energy prices, on top of weaker commodity earnings, sparked a significant drop in government revenues in 2015, prompting both the…
Economic News

Brunei Darussalam’s tourism industry to see stronger support
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A cabinet reshuffle in Brunei Darussalam has sharpened the country’s focus on tourism against a backdrop of sluggish industry growth and falling visitor numbers. Created in October 2015, the Ministry of Primary Resources and Tourism is charged with exploring ways of leveraging Brunei Darussalam’s strengths, which include its strategic location in the heart of the ASEAN region and a variety of…
Economic News

Fisheries expansion goes onshore in Brunei Darussalam
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Onshore developments, including aquaculture and processing facilities, could help Brunei Darussalam unlock the potential of its burgeoning fisheries industry. The Sultanate is keen to overcome supply gaps and boost the sector’s contribution to GDP, particularly in the value-added segment, as part of a national drive to diversify the economy away from oil and gas. Maritime legacy A one-time maritime…
Economic News

Brunei Darussalam looks to work around LNG challenges
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An upgrade to its fleet of tankers could help Brunei Darussalam’s liquefied natural gas (LNG) sector weather external headwinds, which appear unlikely to ease in the near to medium term. While Brunei is taking steps to diversify its economy, the energy sector remains at its core, with hydrocarbons revenues accounting for around half of GDP. The country’s LNG sector revolves around the partly…
Economic News

Brunei Darussalam eyes Pacific trade benefits
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Foreign direct investment (FDI) and trade in Brunei Darussalam are expected to increase under the recently agreed Trans-Pacific Partnership (TPP) deal, dovetailing with the Sultanate’s efforts to diversify its economy. Trade growth would be welcome news given the current economic climate. According to the latest figures from Brunei’s Department of Economic Planning and Development, total trade…
Economic News

Improved transport network to boost connectivity in Brunei Darussalam
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A transportation overhaul is under way in Brunei Darussalam, with the government planning initiatives ranging from bus rapid transit (BRT) to road tolls to encourage the use of public transport and improve overall connectivity. However, further action on fuel subsidies and motor vehicle regulations may be needed to ensure the Sultanate’s plan reaches its full potential. Safety first As outlined…
Economic News

Brunei Darussalam bolsters support for start-ups
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The drive to improve the business environment for Brunei Darussalam’s fledgling entrepreneurs is gathering pace, with technological and structural innovation playing a major role in efforts to streamline the start-up ecosystem. Officials are keen to expand the role played by small and medium-sized enterprises (SMEs) in the Sultanate’s economy. However, deeper reforms aimed at facilitating the…