While 2015 saw some progress in Brunei Darussalam’s ongoing diversification efforts, the challenging external climate, together with an increasingly competitive regional environment, further underscored the importance of pursuing non-oil revenue sources.
Foreign direct investment (FDI) and trade in Brunei Darussalam are expected to increase under the recently agreed Trans-Pacific Partnership (TPP) deal, dovetailing with the Sultanate’s efforts to diversify its economy.
With the year-end target launch of the ASEAN Economic Community (AEC) looming, Brunei Darussalam is moving to make its business climate more competitive via a raft of regulatory changes.
A string of major international trade agreements, due to be implemented in 2015, promise to strengthen and diversify Brunei Darussalam’s exports as it ramps up efforts to reduce its dependency on crude oil sales in the wake of plummeting prices.
The launch of the Brunei Insurance and Takaful Association (BITA) in November 2013 was a major event for the insurance industry and a highly anticipated one since plans for its formation were agreed upon in 2011. Bringing for the first time conventional and takaful insurers under one group, BITA is expected to unify the industry, especially in its relations with...
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