The Sultanate’s small but solid banking sector has been going through some significant changes in recent times. Consolidation has led to fewer lenders, a process that is likely to continue, while at the same time those banks that do remain are some of the best resourced in the region. Indeed, Brunei Darussalam’s banks have high levels of...
With oil and gas prices currently experiencing a sustained low, the Sultanate’s economy has been facing some challenging times. Declines in GDP and a shrinking of government revenues and expenditures have also affected the banking sector, as consumers and businesses act more cautiously and the need for project financing dwindles. Yet the...
Although nearly all residents of Brunei Darussalam are connected to the electricity grid and benefit from a well-developed, reliable and low-priced utilities system, electricity consumption per capita in the Sultanate is among the highest in the world, while difficulties in accessing new power supply have hindered expansion of some industrial...
One of the two specialised industrial zones currently being run by Darussalam Enterprises, the country’s latest business support service, is the Brunei Bio-Innovation Corridor (BIC). The $300m BIC seeks to raise the Sultanate’s profile in the fast-expanding global halal industry. Figures from Thomson Reuters suggest that this market has a...
With the recent descent of oil and gas prices on international markets, the role and future direction of the Sultanate’s industrial sector has never been of greater importance to Brunei Darussalam’s economy. Indeed, diversification away from a long-standing economic dependency on hydrocarbons is greatly contingent on the sector taking a larger...
A powerhouse regional oil and gas producer, Brunei Darussalam has benefitted significantly from a long history of production in partnership with international oil companies. Hydrocarbons continue to dominate its economy today, accounting for the majority of government revenues, GDP and exports. The sector is facing a host of concurrent...
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