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Overview

Regulatory changes: Reforms have made for a sector in transition, with a need to refocus
OBG
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The banking sector is currently facing a period of readjustment, absorbing the implications of a more mature regulatory environment and looking at ways to support the government’s development plans. In a moderately sized market with limitations on the opportunities to boost loan growth in place, the challenges for commercial banks remain substantial. Nonetheless, most of the players in the Sultanate…

Overview

Change is in the air: Regional and local regulatory reforms are set to open up the sector
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With a small population and limited non-hydrocarbons exports, Brunei Darussalam’s transport system has long been considered adequate to handle current volumes of trade and traffic. While the country’s infrastructure is modern, it is comparatively basic: the single-runway Brunei International Airport (BIA) and the small port at Muara handle the vast majority of cargo and passengers entering…

Overview

Convergence and cooperation: Deepening regional and global ties through a common framework
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The Association of South-East Asian Nations (ASEAN) is set to declare itself a common market at the end of 2015, in a move that will create new opportunities for investors in a region that boasts not only some of the world’s fastest-growing economies, but also an expanding middle class. “ASEAN and South-east Asia are one of the few really bright spots in the world economy,” said Teoh…

Overview

Steeped in tradition: With a long history stretching back centuries, the country is also looking ahead towards a promising future
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Steeped in the history and traditions of South-east Asia and of the island of Borneo, the Sultanate of Brunei Darussalam is an ancient nation. Strategically located in a fast-growing and fast-changing region, it has also long been a haven of stability and continuity. Indeed, the current ruler, His Majesty Sultan Haji Hassanal Bolkiah, is the most recent in a line of rulers stretching back to…

Overview

Escaping the energy orbit: Working to diversify and reduce dependence on oil and gas
OBG
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With ample energy resources, Brunei Darussalam is working to build a stronger industrial base using its access to cheap power and petroleum products. Downstream industries have already seen significant successes, and efforts are also being made in unrelated sectors, including in the agro-industrial sector, and specifically halal products, where the Sultanate has resources and expertise. High-tech…

Overview

A good prognosis: Health care strategies target prevention and best practices
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The nation’s universal health care system is the envy of many other countries. Through it, Brunei Darussalam has met most of the health care targets set out in the UN Millennium Development Goals (MDGs) and by the World Health Organisation (WHO), as well as internally set goals. The country has the second-highest life expectancy among the ASEAN countries, behind only Singapore. However, non-communicable…

Overview

Excellence through academics: By setting clear standards, the nation is poised for higher achievement
OBG
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One of the key objectives of Brunei Darussalam’s vision for development, Wawasan Brunei 2035, is for its people to be educated and highly skilled – a goal the government intends to reach by building a quality education system that provides opportunities for all. The system is also designed to meet the challenges of an ever-changing, competitive and knowledgebased global economy, as well as…

Overview

Built environment: Public works are providing a stream of contracts, while reforms and economic diversification pave the way for further growth
OBG
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Several years of strong investment, mainly driven by government initiatives to improve infrastructure and address a housing shortage, have boosted Brunei Darussalam’s construction industry. Major ongoing projects include upgrades to the Brunei International Airport, as well as the construction of the Brunei Cancer Centre, the Prime Minister’s Office and several key roads and bridges. It is…

Overview

Focus on food security: Self-sufficiency and increased capacity are central aims
OBG
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Growing global food insecurity has turned Brunei Darussalam’s attention back toward its farms. Pursuing self-sufficiency across all sectors over two decades, the government is funding an overhaul of sector practices with the aid of foreign expertise. The goal of achieving economic diversification away from the energy sector has led the government to capitalise upon these investments to develop…

Overview

Eye on conservation: Understanding and protecting the local environment
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Blessed with great hydrocarbons wealth and a population of 425,000 set in 5770 sq km, Brunei Darussalam has never had to exploit its natural biodiversity to sustain growth in its contemporary history. Logging and oil palm plantation, two of the greatest causes of deforestation in the region, have no real place in its economy, leaving an estimated 70% of the country as primary forest. As such,…