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Economic News

Brunei Darussalam’s halal industry generating investor appetite
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With an expanding value-added processing industry and growing international interest, Brunei Darussalam’s halal sector has the potential to become a cornerstone of the Sultanate’s diversification efforts. Thanks to the country’s long-standing focus on cultivating a strong international reputation for halal quality, investor appetite is growing for Brunei’s halal goods, ranging from traditional…
Economic News

Brunei Darussalam’s industrial island becomes a reality
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Expectations are high for Brunei Darussalam’s downstream energy sector, as Pulau Muara Besar (PMB) island prepares to welcome the country’s first oil refinery and aromatics cracker complex, highlighting the Sultanate’s growing potential as a destination for value-added processing. Upon completion, the plant is expected to inject an estimated $2bn per annum into the Bruneian economy and boost…
Economic News

Brunei pursues greater sukuk liquidity
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Further solidifying the importance of Islamic finance in Brunei Darussalam’s developing capital market, the country’s financial regulator said in June it is preparing to issue long-term sharia-compliant bonds in the near future. The Sultanate has a strong track record of sukuk (Islamic bonds) issuance dating back to 2006; however, all 118 of the issues to date, which total BN$8.6bn ($6.3bn), have…
Economic News

Brunei Darussalam looks to a new bourse to diversify economy
OBG
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Plans to launch a stock exchange in Brunei Darussalam by 2017 will bolster its capital markets in line with plans for regional market integration as well as aid the broader drive to diversify its economy away from dependence on oil and gas. In mid-May, the Autoriti Monetari Brunei Darussalam (AMBD) said it was researching the possibility of establishing a bourse in the next two years, building on…

Economic News

Brunei Darussalam targets reform ahead of AEC
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With the year-end target launch of the ASEAN Economic Community (AEC) looming, Brunei Darussalam is moving to make its business climate more competitive via a raft of regulatory changes. The Sultanate’s businesses have high hopes for the AEC, particularly regarding the single regional common market and production base. However, the approaching deadline has increased the focus on areas still requiring…

Economic News

Brunei Darussalam’s banks weather oil price volatility
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Banks in Brunei Darussalam have so far weathered the impact of falling oil prices, winning plaudits from credit rating agencies for their resilience and stability. Credit ratings agency Standard & Poor’s (S&P) said in early March that the Sultanate’s strong economic base had dampened the effects of the drop in oil prices on the banking sector, echoing the view of the central banking authority,…
Economic News

Changes in Brunei Darussalam's telecoms market
OBG
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Consumers are set to benefit from significant changes in Brunei Darussalam’s telecoms market due to moves by the sector regulator to eliminate mobile termination and incoming call charges, amongst other measures. On March 3rd, the Authority for Info-communications Technology Industry (AITI) announced plans to rationalise tariffs to ensure a level playing field between mobile operators. The changes,…
Economic News

Brunei Darussalam’s renewed focus on alternative energy
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Plans to revive a stalled renewable energy deal between Brunei Darussalam and neighbouring Sarawak that would see hydropower exported from the Malaysian state to the Sultanate have thrown a focus on its efforts to increase renewable energy sources. Bruneian officials confirmed at the end of January that they would soon be receiving the business plan and details of a proposal to jointly develop hydroelectric…
Economic News

Brunei Darussalam Year in Review 2014
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A string of major international trade agreements, due to be implemented in 2015, promise to strengthen and diversify Brunei Darussalam’s exports as it ramps up efforts to reduce its dependency on crude oil sales in the wake of plummeting prices. The value of exports slumped 23.2% in October, due to lower shipments of oil, according to the latest figures from the Department of Economic Planning and…
Event

OBG Hosts An Executive Panel Discussion At The Launch Of The Report: Brunei Darussalam 2014

On 4th November 2014, OBG hosted a Panel Discussion for 240 VIPs at the Brunei International Convention Centre with The Prime Minister’s Office and The Brunei Economic Development Board. Dato Ali Apong, the Deputy Minister at the Prime Minister’s Office gave the keynote speech, followed by a speech from Michael Benson Colpi, the Chairman of OBG. There followed a panel discussion with senior…