Expectations are high for Brunei Darussalam’s downstream energy sector, as Pulau Muara Besar (PMB) island prepares to welcome the country’s first oil refinery and aromatics cracker complex, highlighting the Sultanate’s growing potential as a destination for value-added processing.
Further solidifying the importance of Islamic finance in Brunei Darussalam’s developing capital market, the country’s financial regulator said in June it is preparing to issue long-term sharia-compliant bonds in the near future.
Plans to launch a stock exchange in Brunei Darussalam by 2017 will bolster its capital markets in line with plans for regional market integration as well as aid the broader drive to diversify its economy away from dependence on oil and gas.
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.
Banks in Brunei Darussalam have so far weathered the impact of falling oil prices, winning plaudits from credit rating agencies for their resilience and stability.
Consumers are set to benefit from significant changes in Brunei Darussalam’s telecoms market due to moves by the sector regulator to eliminate mobile termination and incoming call charges, amongst other measures.
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