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Overview

Consistent practice: A look at the nation’s legal rules and statutes
OBG
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There are two parallel systems of law operating in Brunei Darussalam. Statutory laws, which regulate mercantile activities and disputes between persons and are generally referred to as the common law system, are based upon English acts-codified law. These courts are also known generally as civil courts and have exclusive jurisdiction over all civil and criminal cases in the country. The rules of…

Overview

Niche market: Potential is slowly being realised, but barriers remain
OBG
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With a near-pristine environmental record and more than 70% of its territory covered by tropical rainforest, Brunei Darussalam has strong potential to capture a sizeable share of the growing Asian ecotourism and family holiday market. Indeed, having avoided the brash materialism that typically characterises petrodollar wealth, the country is host to an abundance of natural attractions, from rainforests…

Overview

The rules of the game: Tax updates that businesses need to know
OBG
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The current tax rates in Brunei Darussalam are expected to help grow the economy. Individuals do not to pay any personal income tax, and sole proprietorships and partnerships also continue not to be subject to any form of taxes, a move designed to encourage the growth of small and medium-sized enterprises and support economic diversification in the Sultanate. CORPORATE INCOME TAX: Under Section…

Overview

Poised for growth: Diversification plans will present new opportunities
OBG
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For the past half-decade the real estate market in Brunei Darussalam has been dominated by massive government housing projects that cater to the unfulfilled residential demand in the Sultanate. According to the Ministry of Development, 17,500 units will be built by 2014, which should meet demand levels through 2012, and another 18,000 units are planned for completion by 2017. The scale of the National…
Interview

OBG talks to Pehin Dato Lim Jock Seng, Second Minister of Foreign Affairs & Trade
OBG
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Interview: Pehin Dato Lim Jock Seng How can Brunei Darussalam foster relationships with the Gulf Cooperation Council (GCC) countries to encourage more investment and tourism? PEHIN DATO LIM JOCK SENG: Brunei Darussalam and GCC states share many political, economic and religious traits that give rise to opportunities for stronger economic cooperation and could also position the Sultanate as a viable…
Interview

OBG talks to Kim Sung-Hwan, Korean Minister of Foreign Affairs and Trade
OBG
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Interview: Kim Sung-Hwan How would you assess Republic of Korea-Brunei Darussalam bilateral relations and economic ties, and how can these be deepened? KIM SUNG-HWAN: Korea-Brunei Darussalam bilateral relations and economic ties are in excellent shape. The two countries established diplomatic relations in 1984, right after the independence of Brunei Darussalam, and we have maintained close cooperative…
Interview

OBG talks to Haji Sairul Rhymin CA Mohamed, Chief Operations Officer, Telekom Brunei
OBG
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Interview: Haji Sairul Rhymin CA Mohamed How do you expect the local market to react to the introduction of 4G technology in 2013? HAJI SAIRUL RHYMIN CA MOHAMED: The growth of 4G and long-term evolution (LTE) technology has been tremendous, spurred by rising demand of mobile services for access to the media in the cloud, especially through social media. This is coupled with the fact that the mobile…
Interview

OBG talks to Pengiran Zain, Acting Director of Ports
OBG
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Interview: Pengiran Zain How is Brunei Darussalam’s port being positioned in the region so that it can capture an increasing volume of ASEAN and sub-regional trade? PENGIRAN ZAIN: As widely understood by many, the level of throughput and proportion of cargo coming in and out of a port is directly linked to the overall shipping cost and driven by economies of scale, quality of service and port connectivity.…
Interview

OBG talks to John Baird, Canadian Minister of Foreign Affairs
OBG
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Interview: John Baird How can Bruneian and Canadian bilateral relations translate into political and economic cooperation? JOHN BAIRD: Our relations with Brunei Darussalam are excellent and constructive, and we engage in regular highlevel discussions on issues of interest to both of our countries. We are partners in a variety of forums such as Asia-Pacific Economic Cooperation (APEC), the World Trade…
Interview

OBG talks to Helen Yeo, Chairperson, General Insurance Association of Brunei Darussalam
OBG
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Interview: Helen Yeo How will bringing conventional insurance associations and takaful(Islamic insurance) groups under one roof create a more level playing field? HELEN YEO: The process of registering the new association that includes general and life insurers, as well as general and life takaful operators, has been completed and is being considered by the authorities. Some amendments have…