Brunei Darussalam Economy

Government revenues have declined as a result of the global oil market slowdown, and the 2016/17 budget reflects this. However, moves to increase foreign investment and support economic diversification also factor into the government’s spending plans, with non-oil growth becoming increasingly critical, as evidenced by allocations to education...

One of the largest exporters of oil and gas in Southeast Asia, Brunei Darussalam has long benefitted from its strong trade relationships with Japan, China and its ASEAN neighbours, building a robust trade surplus in the years to 2014 on the back of rising exports and elevated petroleum prices. The oil market’s mid-2014 turnaround has had a...

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...

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...