As ASEAN chair in 2013, Brunei Darussalam has a regional agenda to push forward alongside its domestic plans for the year. Chief among its local priorities is developing alternative resources streams in its economy, which has long been driven by its oil and natural gas revenues.
As oil & gas reserves are gradually depleted, further exploration is being undertaken to bulk up resources. At the same time the state is looking to downstream activities and other high value industries, including production of halal products and ICT, to broaden its economic base. The diversification and productivity boosting initiatives should help with Sultanate compete in a more open ASEAN market, set to be launched in 2015, a goal its chairmanship of the bloc will help to advance.
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