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...
What are your expectations in terms of long-term inflows of foreign direct investment (FDI)?
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...
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