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Analysis

Subsidies have long been a staple, but Brunei Darussalam is encouraging its citizens to reduce consumption
OBG
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Although nearly all residents of Brunei Darussalam are connected to the electricity grid and benefit from a well-developed, reliable and low-priced utilities system, electricity consumption per capita in the Sultanate is among the highest in the world, while difficulties in accessing new power supply have hindered expansion of some industrial enterprises in recent years. Residential consumers continue…

Analysis

Halal development cluster to unlock local industry potential in Brunei Darussalam
OBG
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One of the two specialised industrial zones currently being run by Darussalam Enterprises, the country’s latest business support service, is the Brunei Bio-Innovation Corridor (BIC). The $300m BIC seeks to raise the Sultanate’s profile in the fast-expanding global halal industry. Figures from Thomson Reuters suggest that this market has a potential value of $2.3trn, breaking down into $1.37trn…

Analysis

New policies aim to shore up banking sector in Brunei Darussalam
OBG
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With oil and gas prices currently experiencing a sustained low, the Sultanate’s economy has been facing some challenging times. Declines in GDP and a shrinking of government revenues and expenditures have also affected the banking sector, as consumers and businesses act more cautiously and the need for project financing dwindles. Yet the Sultanate’s banking sector is also seen by many as the key…

Analysis

Islamic bonds expand Brunei Darussalam's financial base
OBG
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Brunei Darussalam made headlines in April 2016 with the announcement of several sukuk (Islamic bond) offerings ahead of the launch of a standalone stock exchange in the Sultanate. Efforts to expand the scope of the financial sector are aimed at ensuring a greater diversity of public and private sector financing, specifically in support of businesses and infrastructure projects. A roadmap of financial…

Analysis

Regional efforts to standardise and liberalise the insurance market impact Brunei Darussalam
OBG
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The year 2016 marks the first year of operation for the ASEAN Economic Community (AEC), while it is also an important milestone in the creation of another, even larger international trading group, the Trans-Pacific Partnership (TPP). The Sultanate has been a key supporter of both groupings, as well as a long-time member of another regional organisation, the Asia Pacific Economic Cooperation. This dense…

Analysis

Building a local workforce in Brunei Darussalam's ICT sector
OBG
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Despite a well-funded education system and a number of ICT skills development programmes, Brunei Darussalam’s ICT-sector workforce could benefit from better alignment with industry requirements. In addition, adding a focus on up-skilling and expanding the competencies of current ICT specialists would help to grow it into a sector that is able to create and maintain employment opportunities for Bruneians. Personnel…

Analysis

Government efforts to reduce car dependency in Brunei Darussalam
OBG
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As private car ownership proliferates in the Brunei Darussalam, its streets and highways are becoming increasingly congested, and road-related injuries and fatalities are a growing trend. The Sultanate’s reliance on the automobile has been blamed on a lack of public transport, attractive deals and loan options on vehicle purchases, and low petrol prices – as of April 2016, one litre of petrol cost…

Analysis

Brunei Darussalam's flag carrier sees major overhaul
OBG
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In line with much of the transport sector in Brunei Darussalam, Royal Brunei Airlines (RB) underwent a five-year restructuring process between 2011 and 2016. This overhaul involved rebranding, service enhancements and simplification of the flight network and fleet, including the assimilation of South-east Asia’s first Boeing 787-8s. These steps were taken in response to heavy losses, the full extent…

Analysis

Changes in property ownership laws affect real estate market in Brunei Darussalam
OBG
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As a result of a 2012 law that restricts property ownership in the Sultanate to citizens, as well as plans to institute sharia law in the country, Brunei Darussalam has become a profitable market in which to sell overseas property. Indeed, investment opportunities in Brunei Darussalam’s property market have proved to be unattractive for permanent residents (PRs) and foreigners living in the sultanate…

Analysis

ASEAN Economic Community to bring new deals to Brunei Darussalam's construction sector
OBG
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The ASEAN Economic Community (AEC) is set to allow the free flow of goods, services, investments and skilled labour, while facilitating the movement of capital across the region. Formally established on December 31, 2015, the community is built on a series of agreements and pillars that establish a stable foundation for liberalised trade and economic expansion in the region. The four key pillars include…