For Brunei Darussalam 2010 was a year of consolidation and building for the future. The economy has emerged from two years of negative growth amidst the fallout from the global financial crisis, and there are projections of better things to come in 2011.While final year-end figures have yet to be released, it seems the Asian Development Bank’s forecast for GDP expansion of 1.1% will likely be met.With…
Brunei’s halal manufacturing industry is looking at 2011 as its breakthrough year, with the sector aiming to greatly expand both its range of products and the overseas markets its sells to, though there are still some challenges to be met before the full benefits of the groundwork that has been laid can be reaped.The government has long worked to promote the halal industry, both by supporting private…
Paulius Kuncinas, OBG Regional Editor, Asia, at the launch of The Report: Brunei Darussalam 2010 on December 16, 2010, at the Empire Hotel, Jerudong, Grand Hall. Good Morning Ladies and Gentlemen, Esteemed guests, Members of Media. It gives me a great pleasure to welcome you here today to launch the Report: Brunei Darussalam 2010. As some of you know this is our fourth year of continuous…
New guide explores drive to diversify economy as downstream activities gather strengthBrunei Darussalam’s plans to reshape its economy by shifting some of the emphasis from oil and gas to knowledge-based downstream activities are mapped out in a wide-ranging report just published by Oxford Business Group (OBG).The Report: Brunei Darussalam 2010 provides in-depth coverage of the Sultanate’s…
The first successes of the recently established free trade agreement (FTA) between Brunei and India have become evident, with Indian experts identifying the Sultanate’s construction sector as a promising area for trade expansion. The sector offers Indian firms a chance to tap into one of the Bruneian economy’s major growth drivers, with a swathe of major construction projects either under way or…
The 17th ASEAN summit in Hanoi in October saw Brunei Darussalam taking steps to improve economic ties with several of its partners in the 10-member organisation, as well as with non-member states. The summit, the second held under Vietnam’s chairmanship, came at a crucial time for ASEAN as it seeks to build more internal economic integration while also strengthening its geostrategic role.Compared…
Brunei Darussalam’s reputation as a champion of environmental protection and natural resource management is proving a boon as the country enters the “value-added timber” market, meaning timber that is already processed into goods.The Sultanate recently began exporting value-added timber products to South Korea such as windows and door frames. Though the exports are relatively small scale, Mahmud…
Brunei’s economy appears set for a period of consolidation and moderate if steady growth as the government combines careful management of energy resources with timely investments aimed at spurring expansion in the coming years.According to the International Monetary Fund’s (IMF) latest world economic outlook, issued in early October, Brunei’s economy should expand by 0.5% this year, doubling…
Brunei and Malaysia have agreed that joint demarcation and survey activities can begin next year on previously disputed offshore oil and gas blocks. The move draws a clearer picture of the role international companies will play in a development expected to significantly boost the Sultanate’s reserves.The dispute had centred around two blocks lying some 100 km offshore from Brunei, which the Sultanate…
With some of the most unspoilt rainforest left anywhere on Earth and a firm commitment by the government to keep them that way, Brunei Darussalam's pristine ecosphere has great potential to boost its tourism sector. It also presents a range of scientific research and development opportunities that could generate spin-offs in a number of industries.Nowhere is the symbiosis between the Sultanate's forests…
