As a founding member of the vast Trans-Pacific Partnership (TPP), the Sultanate is poised to welcome a host of economic benefits as a result of its membership. After a historic signing ceremony in October 2015, the next phase of the pact’s development will see each signatory seek domestic ratification prior to official enactment. Although...
Government revenues have declined significantly in Brunei Darussalam as a result of the global oil market slowdown, leading authorities to float a number of new policies aimed at rationalising spending. The 2016/17 budget reflects these challenges, with funding cut at nearly every department and a strong emphasis on improving efficiency and...
A high-income country with vast petroleum wealth, robust fiscal reserves and a small, highly-educated population, Brunei Darussalam is unique among the ASEAN community. Oil and gas resources have generated high per-capita income, although the economy has contracted in recent years as a result of falling oil and gas prices, which account for...
After a sharp slide on the World Bank’s ease of doing business index in the “Doing Business 2015” report, Brunei Darussalam launched a host of new reforms aimed at making the country’s investment climate more attractive and competitive. New businesses in low-risk sectors are now able to receive a licence and begin operations in a tenth of the...
When Brunei Darussalam became fully independent from Britain on January 1, 1984, His Majesty Sultan Haji Hassanal Bolkiah announced that this new, yet ancient, country would be forever a Malay Muslim monarchy. These three concepts continue to underpin the political, social, religious and cultural framework surrounding the Sultanate, which has...
While both 2015 and 2016 have held numerous important changes for Brunei Darussalam, the nation has long maintained its unique balance of tradition and modernity. Situated along the coast of the South China Sea, the Sultanate covers 5765 sq km on the north-western coast of the island of Borneo. It shares the island of with the Malaysian states...
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