Situated on the northwest coast of Borneo and enveloped by Malaysia, the Islamic Sultanate of Brunei Darussalam has predominantly relied on the oil and liquefied natural gas sectors for economic dominance. In fact, these industries together contribute nearly 60% to the GDP.

Brunei Darussalam presents a considerable untapped business potential, characterised by a stable political climate that is highly conducive to commercial activities.

Country Information
  • Head of State: His Majesty Sultan Haji Hassanal Bolkiah Mu’izzaddin Waddaulah
  • Capital City: Bandar Seri Begawan
  • Total Population: 452,524
  • Languages: Malay, Indian, Nepali, Chinese, Arabic, English
  • Religions: 82% Muslim, 9% Christian, 8% Buddhist, 5% Other religions (including indigenous beliefs)
  • Monetary Unit: Brunei Dollar (BND)
  • Natural Resources: Petroleum, natural gas, agricultural resources (e.g., rice, coffee, and spices)
  • Major Exports: Crude oil, petroleum products, natural gas
  • Major Imports: Machinery and transport equipment, manufactured goods, food, fuels and lubricants, chemical products, miscellaneous and manufactured articles, beverages, and tobacco

As per Statista’s report, the average inflation rate in the country is forecasted to continuously decrease by 0.7% between 2023 to 2028.

Brunei’s inclusion in ASEAN since January 1984 has forged robust ties, particularly with the UK, Singapore, and neighbouring countries, resulting in substantial commercial engagements.

Notably, in 2009, the UK emerged as the third-largest exporter to Brunei, with total goods and services exports amounting to £129 million.

The Investment Incentives Order of 2001 is an attractive lure for prospective investors. This regulation offers an assortment of incentives, including the following:

– Potential for a corporate tax exemption for up to 20 years
– Relief from import duties and taxes on crucial inputs (e.g., raw materials, machinery, equipment, and building structures)

It additionally offers provisions for adjusting capital and handling losses.

Being a youthful nation, Brunei abounds with promising prospects. Beyond the energy sector, opportunities flourish in eco-tourism, recreation, sports, creative industries, consumer goods, waste management, food and agriculture, information, and communication technology (ICT), education, and vocational training.

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