Enhancing National Policies
This section describes the most recent investment-specific and investment-related measures per ASEAN member state.
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Brunei Darussalam
Year Category Sub Category Description 2013 Ease of Doing Business OneBiz OneBiz is a Business Licensing System (BLS) initiative spearheaded by the Ministry of Industry and Primary Resources with the Ministry of Home Affairs. 13 government agencies will bring together a number of business licensing processes into a single on- line window that would significantly hasten the process of securing and submitting forms as well as the payment of required fees related to starting and operating a business, and collection of licenses or permits.
In February 2013, Brunei Darussalam saw the launching of the OneBiz Portal which provides all entrepreneurs in Brunei Darussalam with a single government window, allowing online access and application for the required licenses with greater ease and convenience. The initiative aims to streamline, simplify and integrate the application of business licenses from various agencies while saving time and costs for enterprises.Business Facilitation Centre (BFC) The Business Facilitation Centre (BFC) is a centre providing facilities for applicants who do not have internet access to apply for online licenses through Business Licensing System (BLS). It also provides payment counters for applicants to pay licenses by cash/card and helpdesk for BLS. BFCs are available in all four districts in Brunei Darussalam. Infrastructural Development Information and Communications Technology (ICT) Upgrading Part of Brunei Darussalam’s 10th National Development Plan, Brunei Darussalam is in the process of network infrastructure upgrade, which will see the implementation fiber optic technology to replace the ageing copper cables in the existing infrastructure. The infrastructure upgrade will deploy fiber-to-the-home (FTTH) technology, spanning all four districts in Brunei Darussalam.
2013 will also see the roll-out of 4G (fourth generation) Long Term Evolution (LTE), the next generation of ultra high-speed mobile network to keep up with the rapid growth of the mobile phones market.Modernisation of Brunei International Airport In keeping up with increasing global demand for air travel, Brunei International Airport is currently undergoing a modernisation and expansion project. The project aims to improve airport connectivity, flight frequency and passenger traffic, which will contribute to the vibrant growth of sectors such as tourism, trade and investment. The modernisation works, which began in November 2011 are currently on track, and will be completed in November 2014. Proposed construction of Temburong Bridge The proposed link will cover approximately 30 km, with 14km crossing Brunei Bay. The bridge will begin fro Jalan Kota Batu in the capital, and end at Kampong Labu Estate in the Temburong district. Pandaruan Friendship Bridge Project The Pandaruan Friendship Bridge Project is a joint collaboration between the Governments of Brunei Darussalam and Malaysia, and marks a historical milestone in bilateral relations between both countries. The construction costs are borne equally by both governments. It is scheduled to be completed in the third quarter of 2013, and will ease traffic flow across borders. 2014 Infrastructural Development Information and Communications Technology (ICT) Upgrading 2013 saw the roll-out of 4G (fourth generation) Long Term Evolution (LTE), the next generation of ultra-high-speed mobile network to keep up with the rapid growth of the mobile phones market. Modernisation of Brunei International Airport The modernisation works, which began in November 2011 are currently on track, and is scheduled for completion by November 2014. The project aims to improve airport connectivity, flight frequency and passenger traffic, which will contribute to the vibrant growth of sectors such as tourism, trade and investment. Industrial Park Development Recognising that a readily available site with utilities connection is important for investors, Brunei Darussalam has identified and established several sector specific industrial parks that are ready for investors to set up their establishment. Industrial parks under the management of the Brunei Economic Development Board (BEDB) have been ear marked specifically for foreign direct investment, especially export orientated industries, and Brunei Darussalam have always strived to prepare our industrial parks to a level that will befit international standards.
As such, Brunei Darussalam is currently carrying out upgrading works to a few of our industrial parks, one of which is Salambigar Industrial Park (SIP), which is designated for pharmaceutical, food, cosmetics and light industries. Other industrial parks under the BEDB includes Pulau Muara Besar (PMB) for Oil and Gas downstream and supporting activities, Sungai Liang Industrial Park (SPARK) for gas-based petrochemicals, Rimba Digital Junction catering to high-tech industry, Bukit Panggal Industrial Park, which will house energy intensive manufacturing industries, and Telisai Industrial Park for aquaculture and mixed industries.Proposed construction of Temburong Bridge The proposed link will cover approximately 30 km, with 14 km crossing Brunei Bay. The bridge will begin from Jalan Kota Batu in the capital, and end at Kampong Labu Estate in the Temburong district. It is scheduled for completion by 2018. Pandaruan Friendship Bridge Project The BND 9 million Pandaruan Friendship Bridge project between the Governments of Brunei Darussalam and Malaysia was completed and officially launched in December 2013. Both governments shared the costs of the construction equally and have agreed that the bridge would be toll-free. 2015 Infrastructural Development Information and Communications Technology (ICT) Upgrading In 2014, the Ministry of Communications (MOC), with the support of the Authority for Info-communications Technology Industry of Brunei Darussalam (AITI), launched the National Broadband Policy, which outlines the government’s initiatives and goals for the development of the broadband sector for 2014–2017. Key issues such as accessibility, affordability, quality and usage as well as related matters such as content development and positive use of the Internet will be addressed accordingly.
AITI is also currently implementing a project to develop National ICT Manpower Master Plan for Brunei Darussalam to identify the future supply and demand of ICT-skilled workforce. It is thereafter hoped that improvement in this area will lead to the creation of business and employment opportunities for local businesses.Transportation MOC has published a White paper which is developed to realise the overarching goals of the Wawasan 2035 and the Strategic Plan of the Ministry of Communications (2008 – 2017) with a vision towards creating a smart society and excellence in communications. The document also intends to shape the development of transport corridor and Brunei’s connectivity with neighbouring States and the sub-region for the movement of people, goods and services as well
as to facilitate businesses and development of transport industries. The Centre for Strategic and Policy Studies (CSPS) has also undertaken a review of the transport service network in Brunei Darussalam, which will serve as a basis for the policy-makers as well as the MOC’s preparation to come up with a comprehensive National Land Transport Masterplan.Industrial Park Development Several sector specific industrial parks that are ready to be utilised by investors have been allocated by the government. This includes the development of the Rimba Digital Junction (a 15 hectare industrial park for high tech industries ideally located within the Central Business District) Bukit Panggal Industrial Park (which intends to will house export-oriented energy intensive manufacturing industries) and the Brunei BioInnovation Corridor (that intends to be an internationally renowned Halal-themed industry park).
Brunei Darussalam has also commenced efforts to work with foreign governments in developing economic corridors that will operate on the combined strengths and opportunities of the identified areas, such as the Brunei-Guangxi Economic Corridor.2016 Ease of Doing Business Business – friendly environmen Brunei Darussalam recognizes that establishing a business – friendly environment that offers effective support for business development is a key enabler for economic growth.
• The FDI Action and Support Centre (FAST) was set up in November 2015 as a government entity under the purview of the Prime Minister's Office to focus and deliver the national agenda of branding Brunei Darussalam as the preferred investment destination. FAST works closely with ministries, government agencies
and statutory bodies including the Brunei Economic Development Board (BEDB), the national investment promotion agency, to deliver a coordinated, streamlined and expedited process to provide the necessary decisions required to generate quality investments and employment.
• The Foreign Direct Investment and Downstream Industry Steering Committee was announced in January 2016 to implement reforms such as increase competitiveness in attracting foreign investors.
• In April 2016, the Business Support Centre was launched to facilitate and act as the consolidated front-end to serve all key business related processes (including to access and submit business application, to obtain business advice and information; to learn about and apply for SME programmes and incentives). Online systems were also set up to expedite business registration, labour and land applications.
• Darussalam Enterprises (DARe), a Statutory Body, was also established with the mandate to nurture and support local enterprises from Startup to Growth. It collaborates and coordinates closely with ministries, government and non-governmental agencies locally and abroad to foster growth of domestic business enterprises.Infrastructure Development Information and Communications Technology (ICT) In February 2016, the National ICT White Paper for 2016-2020 was launched to set a strategic direction for the sector. At the same time, the National ICT Manpower Masterplan was also launched to address current challenges of skills gap and mismatch in the ICT talent pool. 2017 Ease of Doing Business Employment Creation The 12 strategic FDI projects are estimated to create 3,900 direct employment over the next 3-5 years with the majority being in Downstream Oil and Gas industry. These FDI projects, including that had commenced since 2010, have contributed to date 771 direct employment with investment inflows of USD925 million with more to come. Future Developments 1. Over the last year and a half, the government of Brunei Darussalam has also taken significant steps forward to further economic diversification opportunities through the signing of Memorandums of Understanding (MOUs) with various international players such as the China Electronics and Technology Group Corporation International (CETCI) and China Fortune Land Development (CFLD). The aim of the collaboration with CETCI specifically, is to develop the digital economy and ICT industry capabilities. The collaborations are is expected to attract further FDIs into Brunei Darussalam. In addition, the launching of the Muara Port Company Sdn Bhd, a collaboration between Darussalam Assets Sdn Bhd and Guangxi Beibu Gulf Port Group in 2016 aims to expand both container and conventional (bulk) terminals to transform Muara Port into a regional hub for distribution and transhipment. The development of industrial zones in Brunei is expected to compliment her aim to become a world-class port in the region.
2. The government of Brunei Darussalam has also recently engaged an external consultant to provide further insight on strategic development of the business environment and best-practice investment policy reforms for Brunei Darussalam.Example – Hengyi Industries 1. Brunei’s desire to further develop the downstream sector and Zhejiang Hengyi’s aspiration to backward integrate its production activities has created the perfect synergy for both parties to develop a world class refinery and integrated petrochemical complex.
2. In 2014, Hongkong Tianyi International Holding Company Limited, a wholly owned subsidiary of Zhejiang Hengyi Petrochemical Co., Ltd. from People’s Republic of China entered into a Joint Venture Agreement with Damai Holdings Limited, a vehicle under the Strategic Development Capital Fund, a Brunei Government Trust-Sub Fund to build an oil refinery and petrochemical complex at Pulau Muara Besar in Brunei Darussalam.
3. The plant which is expected to complete in 2019 will be producing 8 million tonnes/year of refined products and thus ensuring self-sufficiency of refined products in Brunei Darussalam. Hengyi Industries, in May 2017 have announced their “Final Investment Decision” worth USD3.445 billion and that it shall generate 971 jobs. During the Implementation Agreement Signing Ceremony, the Chairman announced Hengyi’s intention to invest further in their Phase 2 project immediately. This will bring the estimated total investment to USD14 billion and open up opportunities for more downstream and supporting projects.Brunei Fertilizer Industries 1. Brunei Fertilizer Industries Sdn Bhd (BFI) is one of the largest and strategic projects of the Government of Brunei Darussalam in its efforts towards diversification of the economy from Upstream Oil & Gas Industry to developing the Downstream Oil & Gas Industry. The Company is majority owned by the Government of Brunei Darussalam and was incorporated on 28 October 2013. BFI will be developing and operating the first ammonia and urea plant in Brunei Darussalam. The plant, which will be based in Sungai Liang Industrial Park (SPARK), will start construction activities in Quarter 4 2017 and will be fully operational by 2021.
2. The production capacity of the plant is designed to be 2,200 mtpd ammonia and 3,900 mtpd granular urea. All of the ammonia produced is planned to be converted to granular urea targeted for export markets.Infrastructure Development Sungai Kebun Bridge The BND$139 million project, spearheaded by Korean firm Daelim Industrial, Swee Sdn Bhd and TRC, is expected to completed by 2017, aims to ease traffic woes of thousands of commuters from Mukim Lumapas. According to the Department of Roads, more than 18,000 vehicles travel from Mukim Lumapas to Bandar every day. This is expected to rise with the development of a new government-subsidised housing scheme in Lumapas. Pulau Muara Besar Pulau Muara Besar is undergoing major infrastructure development, including the construction of a deep water container terminal, export processing zone and manufacturing hub with all supporting commercial facilities and services linked to Muara town by a bridge. 2018 Ease of Doing Business Employment Creation All these initiatives have and will continue to benefit the 22 strategic FDI projects, currently in Operation and Implementation, which in turn are estimated to create 4,344 direct employment, mainly within the Downstream Oil & Gas Industry, over the next 3-5 years. From 2010 to date, the 16 FDI projects in Operation have already generated 1,143 direct employment positions and an investment inflow of approximately USD1.3 billion. Future Developments The government of Brunei Darussalam has also taken significant steps forward to further economic diversification opportunities through the signing of Memorandums of Understanding (MOUs) with various international player such as Guangxi Ruian Logistcis Group Co. Ltd in an effort to create Brunei as a Global Halal Spice Trading and Processing Centre. The aim of this investment is to create opportunities by exploiting Brunei’s Halal Standard to capture international markets, especially to majority Islamic countries. This investment is align with the launching of Muara Port Company Sdn Bhd mentioned above, which aims to expand both the container and conventional (bulk) terminals to transform Muara Port into the regional hub for distribution and transhipment. The development of industrial zones in Brunei is expected to compliment her aim to become a world-class port in the region. Infrastructure Development The Temburong Bridge The mega Temburong Bridge linking Temburong District and the mainland of country is fast taking shape and expected to be finished by November 2019.
The 26.3km bridge, which will link Jalan Kota Batu in Brunei-Muara District and Jalan Labu in Temburong District traversing the Brunei Bay about 14.5km and over the mangrove forest about 11.8km, is one of the largest public infrastructure projects ever carried out in the country.
The construction of the bridge reflects His Majesty Sultan Haji Hassanal Bolkiah Mu’izzaddin Waddaulah ibni Al-Marhum Sultan Haji Omar ‘Ali Saifuddien Sa’adul Khairi Waddien, Sultan and Yang Di-Pertuan of Brunei Darussalam’s concern for the welfare of the citizens and residents of the country and will allow commuters to travel with ease avoiding four frequently congested border immigration checkpoints and shorten the travel time considerably.
The bridge is also expected to strengthen the country’s economic diversification efforts by giving a fresh impetus to Brunei’s tourism sector.
The construction implemented by several contract packages including 13.4-kilo- metre marine viaducts, a 1.1-kilometre bridge comprising of northern and southern ramps to and from Jalan Kota Batu and two cable stayed navigation bridges, the 11.8-kilometre land viaduct, and installation of road lighting as well as power supply network to the bridge.
The contract package CC2 and CC3 were awarded to Swee (B) Sdn Bhd joint venture with Korean Company, Daelim Industrial Company. The contract package CC4 (Temburong viaduct) was awarded to Ocean Quarry Construction Sdn. Bhd. joint venture with China Company, China State Construction Engineering Corporation (CSCEC) Limited
In tune with Brunei’s Malay Islamic Monarchy philosophy, the bridge, will also feature several stars placed within crescent moons set atop towers that will also carry the three ‘Kalimah’ of ‘Subhanallah’, ‘Alhamdulillah’, and ‘Allahu Akbar’, with each signature tower dedicated to the country’s four districts.Raja Isteri Pengiran Anak Hajah Saleha Bridge The recently-opened Raja Isteri Pengiran Anak Hajah Saleha Bridge that links the capital to Kampong Sungai Kebun is expected to generate significant spinoffs to boost businesses in Brunei besides easing commute to the capital from Mukim Lumapas.
The 712-metre long cable-stayed bridge constructed at a cost of BND140 million has reduced travelling time and is expected to offer vast socio-economic development in the surrounding areas with better transportation and accessibility.
The bridge, which spans the iconic Kampong Ayer, linking Jalan Residency in the capital to Kampong Sungai Kebun in Mukim Lumapas, was built under the 10th National Development Plan (RKN10) and has become a major land- mark in the capital.
The bridge is adorned with a 157-metre tower in the centre that is topped with a 8.7-metre diameter dome that anchors the bridge to the Brunei River.
Already, land prices have increased three- fold. Many businesses have shown interest in further developing the land in Mukim Lumapas and establishing industries, warehouses, housing settlements, supermarkets, hardware companies, restaurants and workshops there.Pulau Muara Besar (PMB) Bridge Construction of the Pulau Muara Besar Bridge was completed by the contractor China Harbour Engineering Company Ltd (CHEC) in May 2018 which provides a link between the mainland at Kampong Serasa to the Pulau Muara Besar Industrial Park managed by Darussalam Enterprise (DARe).
The Pulau Muara Besar Bridge project includes the construction of a 2.68 kilometer long four lane sea-crossing bridge, a 2.925 kilometer four lane road on PMB and associated utilities including power, water and telecommunications.
With a total contract value of BND261 million, the bridge is Brunei's first sea-crossing bridge which is expected to attract more FDIs into the petrochemical and related downstream oil and gas industries.
Construction of the bridge is another strategic infrastructure project undertaken by DARe to transform Pulau Muara Besar (PMB) into a world-class industrial park.2019 Ease of Doing Business Starting a Business Brunei Darussalam made procedures to starting a business easier by merging the name reservation and company incorporation into a single step as well as the amendments to the Stamp Act removing the requirement for Share Certificates to be stamped upon incorporation.
The reforms were made by Registry of Companies and Business Names (ROCBN), Ministry of Finance and Economy.Getting Electricity The approval process has been streamlined by reducing the number of procedures needed to obtain a new connection and cost charges for ‘Getting Electricity’ as championed by the Ministry of Energy, Manpower and Industry. Getting Credit This is championed by Autoriti Monetari Brunei Darussalam; with their introduction of the Credit Scoring, Brunei Darussalam is reflected as being on par with New Zealand in the strength of credit reporting systems and borrowers information, due to the credit registry offering credit scores to banks to better inform their lending decisions, therefore, further easing the process for businesses to obtain financial support. Paying taxes Moreover, there is a significant improvement in 20 places for the indicator ‘Paying Taxes’, championed by Ministry of Finance and Economy, which is due to the full utilization of the e-Amanah system by all registered companies in Brunei Darussalam to pay the Employee Provident Fund. Hence, improving the overall number of tax payment per year and time taken to pay taxes. Infrastructure Development The Temburong Bridge The mega Temburong Bridge linking Temburong District and the mainland of country is fast taking shape and targeted to be completed by the end of 2019. It is one of the largest public infrastructure projects ever carried out in the country.
The 26.3km bridge, will be the first road bridge in Brunei Darussalam linking Jalan Kota Batu in Brunei-Muara District and Jalan Labu in Temburong District traversing the Brunei Bay about 14.5km and over the mangrove forest about 11.8km.
The construction of the bridge reflects His Majesty Sultan Haji Hassanal Bolkiah Mu’izzaddin Waddaulah ibni Al-Marhum Sultan Haji Omar ‘Ali Saifuddien Sa’adul Khairi Waddien, Sultan and Yang Di-Pertuan of Brunei Darussalam’s concern for the welfare of the citizens and residents of the country and will allow commuters to travel with ease avoiding four frequently congested border immigration checkpoints and shorten the travel time considerably. Apart from that, upon its completion, it is expected to improve the mobility of Temburong residents to other parts of Brunei, especially to the capital of Brunei, Bandar Seri Begawan. Currently in order to travel from Brunei-Muara to Temburong directly is via water taxi services which take about 45 minutes.
The bridge is also expected to strengthen the country’s economic diversification efforts by giving a fresh impetus to Brunei’s tourism sector.
The construction implemented by several contract packages including 13.4-kilo- metre marine viaducts, a 1.1-kilometre bridge comprising of northern and southern ramps to and from Jalan Kota Batu and two cable stayed navigation bridges, the 11.8-kilometre land viaduct, and installation of road lighting as well as power supply network to the bridge.
The contract package CC2 and CC3 were awarded to Swee (B) Sdn Bhd joint venture with Korean Company, Daelim Industrial Company. The contract package CC4 (Temburong viaduct) was awarded to Ocean Quarry Construction Sdn. Bhd. joint venture with China Company, China State Construction Engineering Corporation (CSCEC) Limited.
In tune with Brunei’s Malay Islamic Monarchy philosophy, the bridge, will also feature several stars placed within crescent moons set atop towers that will also carry the three ‘Kalimah’ of ‘Subhanallah’, ‘Alhamdulillah’, and ‘Allahu Akbar’, with each signature tower dedicated to the country’s four districts.Raja Isteri Pengiran Anak Hajah Saleha Bridge This bridge is commonly known as Sungai Kebun bridge. It was officially inaugurated on 14 October 2017. The 712-metre long cable-stayed bridge constructed at a cost of BND140 million and it is the first of its kind in Brunei Darussalam, and is reported as the second longest single-pylon cable-stayed bridge in the world. The bridge is adorned with a 157-metre tower in the centre that is topped with a 8.7-metre diameter dome that anchors the bridge to the Brunei River.
The bridge, which spans the iconic Kampong Ayer, linking Jalan Residency in the capital to Kampong Sungai Kebun in Mukim Lumapas, was built under the 10th National Development Plan (RKN10) and has become a major landmark in the capital.
The bridge links the capital to Kampong Sungai Kebun is expected to generate significant spinoffs to boost businesses in Brunei Darussalam besides easing commute to the capital from Mukim Lumapas. Not only limited to that, it also has reduced travelling time and is expected to offer vast socio-economic development in the surrounding areas with better mobility and accessibility.
With the current development, land prices have increased three-fold. Many businesses have shown interest in further developing the land in Mukim Lumapas and the surrounding areas by establishing industries, warehouses, housing settlements, supermarkets, hardware companies, restaurants and workshops there.Pulau Muara Besar (PMB) Bridge Construction of the PMB Bridge was completed by the contractor China Harbour Engineering Company Ltd (CHEC) in May 2018 which provides a link between the mainland at Kampong Serasa to the Pulau Muara Besar Industrial Park managed by Darussalam Enterprise (DARe).
The PMB Bridge project includes the construction of a 2.68 kilometer long four lane sea-crossing bridge, a 2.925 kilometer four lane road on PMB and associated utilities including power, water and telecommunications. With a total contract value of BND261 million, the bridge is Brunei's first sea-crossing bridge which is expected to attract more FDIs into the petrochemical and related downstream oil and gas industries.
Construction of the bridge is another strategic infrastructure project undertaken by DARe to transform Pulau Muara Besar (PMB) into a world-class industrial park and for Brunei to become a hub for crude oil refinery and refined product export. This initiative also aimed to help Brunei Darussalam to upgrade its industries level, and alleviate its reliance on oil exports and boost bilateral economic and trade cooperation.2020 Ease of Doing Business Report by the World Economic Brunei Darussalam being ranked 66 out of 190 economies with an Ease of Doing Business (EODB) score that has seen a gradual increase from 69.6 (adjusted) in 2019 to 70.1 in 2020. Brunei Darussalam remains ranked 4th among ASEAN nations behind Singapore, Malaysia and Thailand. This also coincides with an improvement in its rank in the Global Competitiveness 2019 Report by the World Economic Forum by scoring 62.8 points out of 100 and climbing 6 positions to 56th position out of 141 economies with improvements in scores of various pillars including ‘Macroeconomic Stability’, ‘Skills’, ‘Labour Market’, ‘Financial System’, ‘Market Size’, ‘Business Dynamism’ as well as ‘Innovation Capability’. Meanwhile the top 3 pillars are ‘ICT Adoption’ (26), ‘Labour Market’ (30) and ‘Product Market’ (37). Enforcing Contracts and Resolving Insolvency Based on World Bank’s Doing Business Report 2020, Brunei Darussalam implemented two new reforms to further improve the business regulatory framework. Substantive improvements were seen in the local regulatory framework for the indicators on ‘Enforcing Contracts’, and ‘Resolving Insolvency’, championed by the Prime Minister’s Office. Insolvency Framework This can be attributed to the publication of judicial reports and statistics online by the State Judiciary Department and reforms made in improving creditor’s rights when undertaking insolvency proceedings, hence contributing to the strengthening of the overall Insolvency Framework of the country. Dealing with Construction Permits Other indicators that saw improvement are 'Dealing with Construction Permits' indicator, championed by the Ministry of Development; as well as 'Getting Electricity', championed by the Ministry of Energy. The ministry also made great strides in streamlining the approval process through a reduction in the time taken for obtaining electricity which has improved in terms of its efficiency from 35 calendar days to 25 calendar days. Getting Credit Brunei Darussalam still maintained the number one ranking in 'Getting Credit', together with top-ranking country, New Zealand. This indicator, championed by Authority Monetary Brunei Darussalam, reflects the strength of credit reporting systems and borrowers' information, due to the credit registry offering credit scores to banks to better inform their lending decisions, therefore, further easing the process for businesses to obtain financial support. Business processes across indicators Nonetheless, even with current efforts in improving business-related processes across all indicators, due to the increasing competitiveness and rate of reforms implemented by other participating economies, as well as a methodology adjustment, several indicators experienced a slip in ranking such as Registering Property from 142 to 144, Paying Taxes from 84 to 90 and Protecting Minority Investors from 48 to 128. Ease of Doing Business Steering Committee The drive to improve the domestic business regulatory environment is underpinned by a Whole-of-Nation approach spearheaded and monitored by the Ease of Doing Business Steering Committee, chaired by the Minister of Energy, Manpower and Industry, and collectively delivered by respective ‘Champion Groups’ from Departments and Agencies under the Prime Minister’s Office, Ministry of Finance and Economy, Ministry of Home Affairs, Ministry of Religious Affairs, Ministry of Primary Resources and Tourism, Ministry of Health, Ministry of Development, Ministry of Energy, Manpower and Industry, Ministry of Transport and Info-communications, Autoriti Monetari Brunei Darussalam (AMBD), Darussalam Enterprise (DARe) as well as Management Service Department, Prime Minister’s Office. Economic Diversification Foreign Direct Investment (FDI) 1. For long term economic sustainability, Brunei Darussalam continues to intensify its economic diversification efforts in five main priority sectors, namely (i) Downstream Oil and Gas; (ii) Food; (iii) Tourism; (iv) Services; and (v) Info-communications Technology (ICT).
2. Increasing activities in these sectors are expected to boost the growth of industries and spin-offs, create employment, increase exports and accelerate the country’s economic growth.
3. To do so, the Government actively promotes attracting Foreign Direct Investment (FDI) into Brunei Darussalam to stimulate private sector activities and to encourage local entrepreneurs, especially MSMEs, to reap the benefits of FDI by participating in the spin-off activities.
4. As a result of these efforts, as of 2018, the value of FDI which is currently operating in the country is B$4.7 billion, whereas the value of the FDI currently being implemented is B$1.5 billion. FDI itself has generated more than 1,000 jobs for the local workforce and has also contributed towards increasing the country’s exports.Monetary and Financial Stability in Islamic Finance Autoriti Monetari Brunei Darussalam’s (AMBD) Brunei Darussalam has established a stable monetary and competitive fiscal environment, supported by the Autoriti Monetari Brunei Darussalam’s (AMBD) progressively robust regulatory framework. The World Economic Forum has consistently ranked Brunei Darussalam highly as a destination renowned for a stable macroeconomic environment. Melayu Islam Beraja (MIB) Brunei Darussalam is in a strong position to compete within one of the global financial sector’s fastest growing services: Islamic Finance. Brunei Darussalam’s political, social and increasingly economic framework aligns to Islamic teachings and principles, providing the country with a competitive edge. This is exemplified by the national commitment to Melayu Islam Beraja (MIB) philosophy which has been in practice for 600 years, contributing to political and social stability. Islamic Finance As Islamic Finance continues to grow internationally and regionally, Brunei Darussalam can leverage such unique characteristics to evolve into an Islamic Finance hub serving the fast growing ASEAN region. Developing Manpower Centre for Islamic Banking, Finance and Management (CIBFM CIBFM plays a fundamental role in the further development of Syariah experts, scholars and financially literate talent. Through its unique and professional programmes, the CIBFM provides a progressive route of Islamic Finance education, from basic to professional certification level (covering all sectors – Islamic Banking, Takaful and Islamic Capital Market). Such education and training pro-activity will enable Brunei Darussalam to begin mobilise its local talent from the hydrocarbon and public sector, and into the financial services sector and help Brunei Darussalam achieve its objective to become an Islamic Finance Hub. Centre for Capacity Building (PPK) PPK is one of the main initiatives as a national effort towards reducing unemployment rate. It is expected that PPK will give opportunities for local youths to gain skills that can be used to secure jobs in fields required by local industries. Under these programmes, students will have the opportunity for up-skilling or re-skilling and obtain certifications accredited by local industries. This will boost their employability in the private sector within their area of study. JobCentre Brunei In effort towards increasing human resource capacity as well as aligning jobseekers’ capabilities with industrial needs, a Graduate Apprenticeship Scheme or ‘i-Ready’ has been introduced. Its objective is to provide working experience for graduates who are seeking employment to gain working experience and skills required by the industry. Through this programme, graduates will not only be able to gain on-the-job training and experience in the real-world working environment, they will also have reskilling opportunities not necessarily based on their academic background. Manpower Planning Unit Industry Competency Framework
This initiative is aimed at aligning technical and vocational training programmes with the needs of industries. This is to ensure that local youths obtain the right skills and qualifications as needed by industries and prepares them for work (industry-ready) upon completion of their training programmes.Industrial Skills Qualification (ISQ)
The ISQ aims to give an incentive for students who have completed their training in Registered Training Organizations (RTOs) to get employment within their field of study in the private sector.Supporting Infrastructure Telecommunications Infrastructure The Government of Brunei recognises the important role of supporting infrastructure for economic development particularly in telecommunications and transportation. The Maritime and Port Authority The Maritime and Port Authority Brunei Darussalam was established in 2017 with a vision to form a ‘Conducive and Dynamic Maritime and Port Environment’ which will help to fulfil the needs of import and export activities. Muara Port Additionally, the Muara Port Company was formed in 2017 through a joint venture to operate the Muara Port Container and Conventional Terminals. The company is expected to further improve the efficiency and throughput of Muara Port. Information and Communication Technologies (ICT) A robust infrastructure is crucial in order for the digital economy to flourish. Brunei Darussalam has restructured its ICT sector with the consolidation of its telecommunications infrastructure under one company, namely Unified National Networks Pte Ltd. Quality of telecommunication services The infrastructural improvement is anticipated to widen the platform for innovation and competition at the retail level. On 24 January 2020, three service providers have relaunched themselves, providing users with more choices of innovative services at competitive prices. Through such efforts, residents of the country can expect substantial improvements in the availability and quality of telecommunication services at more affordable prices. This would result in wider access to mobile networks and internet connectivity for everyone in the entire country, especially for those living in the rural areas, as well as to reduce the cost of doing business for local entrepreneurs.
"Enhancing Connectivity The Sultan Haji Omar ‘Ali Saifuddien Bridge (Temburong Bridge) The 26.3km bridge, which links Jalan Kota Batu in Brunei-Muara District and Jalan Labu in Temburong District traversing the Brunei Bay about 14.5km and over the mangrove forest about 11.8km, is one of the largest public infrastructure projects ever carried out in the country.
The construction of the bridge reflects His Majesty Sultan Haji Hassanal Bolkiah Mu’izzaddin Waddaulah ibni Al-Marhum Sultan Haji Omar ‘Ali Saifuddien Sa’adul Khairi Waddien, Sultan and Yang Di-Pertuan of Brunei Darussalam’s concern for the welfare of the citizens and residents of the country and will allow commuters to travel with ease avoiding four frequently congested border immigration checkpoints and shorten the travel time considerably.
The bridge is also expected to strengthen the country’s economic diversification efforts by giving a fresh impetus to Brunei’s tourism sector.
The construction implemented by several contract packages including 13.4 kilo- metre marine viaducts, a 1.1-kilometre bridge comprising of northern and southern ramps to and from Jalan Kota Batu and two cable stayed navigation bridges, the 11.8-kilometre land viaduct, and installation of road lighting as well as power supply network to the bridge.
The contract package CC2 and CC3 were awarded to Swee (B) Sdn Bhd joint venture with Korean Company, Daelim Industrial Company. The contract package CC4 (Temburong viaduct) was awarded to Ocean Quarry Construction Sdn. Bhd. joint venture with China Company, China State Construction Engineering Corporation (CSCEC) Limited
In line with Brunei’s Malay Islamic Monarchy philosophy, the bridge, also features several stars placed within crescent moons set atop towers that carry the three ‘Kalimah’ of ‘Subhanallah’, ‘Alhamdulillah’, and ‘Allahu Akbar’, with each signature tower dedicated to the country’s four districts.Raja Isteri Pengiran Anak Hajah Saleha Bridge Raja Isteri Pengiran Anak Hajah Saleha Bridge that links the capital to Kampong Sungai Kebun is expected to generate significant spinoffs to boost businesses in Brunei besides easing commute to the capital from Mukim Lumapas.
The 712-metre long cable-stayed bridge constructed at a cost of BND140 million has reduced travelling time and is expected to offer vast socio-economic development in the surrounding areas with better transportation and accessibility.
The bridge, which spans the iconic Kampong Ayer, linking Jalan Residency in the capital to Kampong Sungai Kebun in Mukim Lumapas, was built under the 10th National Development Plan (RKN10) and has become a major land-mark in the capital.
The bridge is adorned with a 157-metre tower in the centre that is topped with a 8.7-metre diameter dome that anchors the bridge to the Brunei River.
Already, land prices have increased three-fold. Many businesses have shown interest in further developing the land in Mukim Lumapas and establishing industries, warehouses, housing settlements, supermarkets, hardware companies, restaurants and workshops there.Pulau Muara Besar (PMB) Bridge Construction of the Pulau Muara Besar Bridge was completed by the contractor China Harbour Engineering Company Ltd (CHEC) in May 2018 which provides a link between the mainland at Kampong Serasa to the Pulau Muara Besar Industrial Park managed by Darussalam Enterprise (DARe).
The Pulau Muara Besar Bridge project includes the construction of a 2.68 km long four lane sea-crossing bridge, a 2.925 kilometer four lane road on PMB and associated utilities including power, water and telecommunications.
With a total contract value of BND261 million, the bridge is Brunei's first sea-crossing bridge which is expected to attract more FDIs into the petrochemical and related downstream oil and gas industries.
Construction of the bridge is another strategic infrastructure project undertaken by DARe to transform Pulau Muara Besar (PMB) into a world-class industrial park.2022 Investment and
Business EnvironmentFood security Food security, and how to ensure Brunei and Singapore can complement each other. Singapore can bring in the know-how in areas such as sea space to human resources in Brunei and Singapore to work towards sustainable and a secured food supply in the Sultanate that could benefit both the Bruneian food industry and the Singapore population. The export of eggs and fish to Singapore can bring new business to local farmers as well as investors, giving better economic returns for investments. Fisheries, agriculture and agrifood The Ministry of Primary Resources and Tourism (MPRT) aims to increase the contribution of the fisheries, agriculture and agrifood industry to at least BND1 billion by 2035. The focus is to encourage more value-added activities to increase production. Strategies will include not only having more farms but also increase production of current farms. To achieve this, the ministry is encouraging the use of technology and set ambitious targets which will have a big impact on the nation’s economy. Ministry of Transport and Infocommunications (MTIC) Brunei Darussalam remains steadfast in its pursuit of digital transformation and becoming a smart nation. Throughout 2022, an increase in the use of technology in government services can be seen with the upgrade of Ministry of Transport and Infocommunications (MTIC) TransportBN app which enables user to access driving and vehicle licences in digital form as well as the general increase in the use of QueUp app by the Immigration and National Registration Department along with Brunei Postal Services Department Brunei Telecommunications Industry continues to improve the infrastructure and network by continuously providing accessible and high-quality broadband services for the nation. A 1Gbps Fixed Broadband Proof of Concept was launched in a joint effort by the telecommunication industry to transform Brunei into a smart nation, aligning with Brunei’s Wawasan 2035 and Digital Economy Masterplan 2025, and readying Brunei to be a Gigabit society. Gigabit Fixed Broadband service is a springboard to bring innovation, experience transformation, consumer, and industry use cases around high-speed broadband connectivity. The objective of this trial is to ensure industry’s readiness in launching Gigabit Fibre Broadband propositions to the market. It also allows the three service providers (DST, Imagine and Progresif) to explore Wi-Fi propositions to enhance customers experience on the 1Gbps Fibre Broadband. On 7th November 2022, a consortium of telecommunication companies from China Philippines, Singapore and Brunei (Unified National Networks Sdn Bhd) signed agreements to invest in submarine cable system in Southeast Asia with the aim to boost data capacity in the region and to upgrade local capacities in order to accommodate the growing traffic in Brunei Darussalam as well as to increase the reliability of international connectivity of the country. The development of Progresif CARE+ app establishes Progresif’s progress towards Brunei’s digital transformation and reinforces the company’s commitment to providing a customer service experience revolutionised through technology. The all-new Progresif CARE+ aims to enhance customers’ experience through improved access, allowing control, and management of customer’s accounts easily. Datastream Digital Sdn Bhd widened their fibre broadband coverage to Temburong District, thus enhancing their products and services in digital connectivity and online experience. This is in line with the national objective of improving connectivity across the nation. Progresif Sdn Bhd announced its partnership with Folec Communication Sdn Bhd to provide Push-To-Talk (PTT) services to Progresif users. The goal of the partnership is to introduce a new Progresif Push-To-Talk solution with high-level features of PTT devices and offering affordable options for Progresif customers. PTT solutions offers a high-tech radio device that will replace ageing walkie talkies by utilising Progresif’s state-of-the-art machine-to-machine (M2M) network and Inrico handheld radios supplied by Folec Communications. These devices are configurable to communicate and monitor operations between individuals or groups with geo-tracking properties, crystal clear audio, seamless connectivity, and longer battery life. Services sector Pilot Project Bus Passenger Information System: Through the ASEAN Smart Cities Network (ASCN) Smart's City supported by the Japan ASEAN Mutual Partnership (Smart JAMP) program, a partnership between Brunei Darussalam's Ministry of Transport and Infocommunications (MTIC) and Japan's Ministry of Land, Infrastructure, Transport and Tourism (MLIT) aims to improve the quality of the public bus transportation system. During the BIMP-EAGA Maritime 2023 event, the Indonesian Transportation Minister urged the four countries—Brunei Darussalam, Indonesia, Malaysia, and the Philippines—to cooperate to enhance their harbor in order to forge a unified strength that will lead to becoming a worldwide logistics power. In order to forge a reciprocal relationship that will benefit both parties, he also encouraged cooperation between these harbors and other international harbors. Free Trade Agreement (FTA) Brunei Darussalam is also in the midst of embarking negotiations for a number of FTAs namely the Agreement on the ASEAN-Australia-New Zealand Free Trade Area (AANZFTA), ASEAN-China Investment Agreement and ASEAN-Hong Kong Investment Agreement.
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