Brunei Darussalam

Brunei Darussalam’s information and communication technology (ICT) sector is winning international recognition and moving closer to meeting the government’s objective of making the Sultanate a knowledge-based economy. However, the acceptance of ICT in daily life is by no means even throughout the country.

Looking to build on its recent good showing in the World Bank’s Ease of Doing Business (EODB) survey, where it made solid gains in a number of categories and improved its overall ranking, Brunei Darussalam is now looking to further enhance its business climate and attract increasing levels of foreign direct investment. Yet, it still has some way to go before it achieves its goal of being included in the upper percentile of the World Bank ratings.

Brunei Darassalam’s skies are set to get more crowded and its international airport busier, with an increasing number of airlines looking to serve routes to the Sultanate and the country’s own flag carrier positioning itself to maximise returns by sharpening its focus on the regional market.

Brunei Darussalam’s construction sector is set to benefit from a number of new infrastructure projects coming off the drawing board in the next year, two of which will have particular significance for the Sultanate’s domestic economy and integration with its neighbours.

With a radical overhaul of its energy sector planned, Brunei Darussalam is looking to ramp up production at the wellhead while expanding downstream activities through a long-term programme that is intended to quadruple national revenue and boost employment.

Brunei Darussalam’s economy has maintained its competitive edge over the past year, according to a recent report, putting in a solid performance in difficult times as the world struggles to rebound from recession. However, the study also identified a number of key areas where the Sultanate needs to step up if it is to further improve its rankings.