Banking sector growth has accelerated as authorities have eased up somewhat on restrictive regulations, and banks are looking forward to an improved climate as overall economic growth revives. Rapid growth in lending to domestic business, albeit from a low base, gives some cause for hope that the sector is beginning to work through the limitations of an economy dominated...
The recent acceleration of bank lending to domestic businesses, albeit from a low base, shows the increasing seriousness of the government’s drive to speed growth outside of the dominant oil and gas sector. Driven by government-linked banks, the upturn has helped buoy domestic demand despite the decline in energy exports. The banks most responsible for driving the growth...
The country has long had big ambitions for the downstream segment of its energy sector, and 2014 was the year when they finally began to take shape. The $10bn oil processing and petrochemicals complex planned by China’s Zhejiang Hengyi in Brunei Darussalam passed a crucial milestone in February 2014 when Hengyi and the Bruneian government formed a joint venture, Hengyi...
As an export-oriented energy producer and a high-income country with a humid climate, Brunei Darussalam has one of the world’s highest rates of energy consumption per capita. According to the International Energy Agency (IEA), annual per capita consumption stood at 9.44 tonnes of oil equivalent in 2011, the sixth-highest amount in the world and about five times the...
As a small country with a large endowment of oil and gas, Brunei Darussalam has naturally developed a mostly export-oriented energy sector. Through long relationships with top multinationals, the Sultanate has an established record of applying leading technologies in the exploration, development and processing of its natural resources. The country is today primarily an...
What impacts has the recent local business development (LBD) framework had on domestic companies in the energy sector?
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