While developing the private ICT sector into a valuable contributor to the domestic economy, the government has also recognised the importance of integrating modern ICT systems into its own institutions as a means to stimulate the economy as a whole. By streamlining government bureaucracy through the implementation of new technology, the government hopes to slash red...
One of the most crucial components of Brunei Darussalam’s plan to transform itself into a knowledge-based economy by 2035 is the development of a modern ICT sector, utilising cutting-edge technology and practices to drive domestic growth. The sector has been singled out as a priority in the country’s long-term strategic development plan, Wawasan Brunei 2035, which has...
In order to accommodate the rapid growth in the ICT sector in both the public and private spheres, the capabilities of Brunei Darussalam’s telecoms infrastructure are being bolstered in anticipation of even greater amounts of data traffic in the years to come. While so far the country’s fixed and mobile internet network has been able to accommodate the increasing data...
Islamic finance has had a growing presence in Brunei Darussalam since the early 1990s, with active support from Sultan Hassanal Bolkiah. Today the Islamic banking and takaful (Islamic insurance) segments are transitioning into the dominant forms of banking and insurance in the country, and the Sultanate’s large foreign investments are increasingly...
Banking sector growth has accelerated as authorities have eased up somewhat on restrictive regulations, and banks are looking forward to an improved climate as overall economic growth revives. Rapid growth in lending to domestic business, albeit from a low base, gives some cause for hope that the sector is beginning to work through the limitations of an economy dominated...
The recent acceleration of bank lending to domestic businesses, albeit from a low base, shows the increasing seriousness of the government’s drive to speed growth outside of the dominant oil and gas sector. Driven by government-linked banks, the upturn has helped buoy domestic demand despite the decline in energy exports. The banks most responsible for driving the growth...
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