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Analysis

Fishing and aquaculture hold promise for Brunei Darussalam's economy
OBG
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With recent official forecasts of the Sultanate’s aquaculture sector turning into a BN$2bn ($1.4bn) industry, even as Brunei Darussalam continues to be one of South-east Asia’s top consumers of fish, the marine food sector looks set for major expansion in the years ahead. Aquaculture in particular dovetails with the Sultanate’s wider plans to boost its food processing industry, largely channelled…

Analysis

Initiative to boost Chinese tourist numbers in Brunei Darussalam
OBG
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With Brunei Darussalam officials busy exploring new avenues to diversify the Sultanate’s economy away from petrochemicals, attention is being directed toward previously underdeveloped sectors for economic expansion. As demonstrated by the elevation of tourism to ministerial status under the Ministry of Primary Resources and Tourism (MPRT) in 2015, the country’s tourism sector is now at the forefront…

Analysis

Brunei Darussalam builds on its Islamic tourism offering
OBG
plus

As the world’s only Malay Islamic Monarchy, Brunei Darussalam is in a unique position to promote a sharia-compliant Islamic heritage tourism product attractive to observant Muslim families and others. Such a promotion would be a favourable strategy in the country’s efforts to expand its tourism sector and diversify the economy. Spending on travel and hospitality by Muslim travellers is expected…

Overview

Brunei Darussalam looks diversify its economy and develop human capital
OBG
plus

While both 2015 and 2016 have held numerous important changes for Brunei Darussalam, the nation has long maintained its unique balance of tradition and modernity. Situated along the coast of the South China Sea, the Sultanate covers 5765 sq km on the north-western coast of the island of Borneo. It shares the island of with the Malaysian states of Sabah and Sarawak, as well as the five provinces of…

Overview

Brunei Darussalam fusing a conservative approach wtih economic development
OBG
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When Brunei Darussalam became fully independent from Britain on January 1, 1984, His Majesty Sultan Haji Hassanal Bolkiah announced that this new, yet ancient, country would be forever a Malay Muslim monarchy. These three concepts continue to underpin the political, social, religious and cultural framework surrounding the Sultanate, which has since become one of the wealthiest nations in South-east…

Overview

Mega-projects and investment in non-enegy sectors to drive growth in Brunei Darussalam
OBG
plus

A high-income country with vast petroleum wealth, robust fiscal reserves and a small, highly-educated population, Brunei Darussalam is unique among the ASEAN community. Oil and gas resources have generated high per-capita income, although the economy has contracted in recent years as a result of falling oil and gas prices, which account for more than 90% of export revenues. Although historically high…

Overview

Brunei Darussalam reforms regulations to attract foreign investment in key industries
OBG
plus

One of the largest exporters of oil and gas in Southeast Asia, Brunei Darussalam has long benefitted from its strong trade relationships with Japan, China and its ASEAN neighbours, building a robust trade surplus in the years to 2014 on the back of rising exports and elevated petroleum prices. The oil market’s mid-2014 turnaround has had a dramatic impact on the Sultanate’s trade balance, however,…

Overview

Public and private sector spearhead initiatives in Brunei Darussalam's energy sector
OBG
plus

A powerhouse regional oil and gas producer, Brunei Darussalam has benefitted significantly from a long history of production in partnership with international oil companies. Hydrocarbons continue to dominate its economy today, accounting for the majority of government revenues, GDP and exports. The sector is facing a host of concurrent challenges – production at Brunei Darussalam’s mature fields…

Overview

New strategies in Brunei Darussalam's industrial sector to expand opportunities
OBG
plus

With the recent descent of oil and gas prices on international markets, the role and future direction of the Sultanate’s industrial sector has never been of greater importance to Brunei Darussalam’s economy. Indeed, diversification away from a long-standing economic dependency on hydrocarbons is greatly contingent on the sector taking a larger share of the country’s GDP. This necessary shift…

Overview

Improving standards in Brunei Darussalam's banking sector
OBG
plus

The Sultanate’s small but solid banking sector has been going through some significant changes in recent times. Consolidation has led to fewer lenders, a process that is likely to continue, while at the same time those banks that do remain are some of the best resourced in the region. Indeed, Brunei Darussalam’s banks have high levels of liquidity, good capital adequacy ratios (CAR) and well-managed…