Citing Brunei’s positive outlook from the recently published “The Report: Brunei Darussalam 2016”, OBG’s managing editor for Asia, Paulius Kuncinas, said efforts to enhance Brunei’s business climate were instrumental in helping the country move up the World Bank’s Ease of Doing Business rankings this year and would support the drive to attract new foreign direct investment (FDI) in targeted industries.
“While the challenges cannot be underestimated, we expect a sharpened focus on areas such as manufacturing to provide firm foundations for non-oil growth,” Kuncinas said.
Meanwhile, Andrew Jeffreys, OBG’s chief executive officer and editor-in-chief, said that while Brunei had felt the weight of declining revenues due to low oil prices, its efforts to broaden the economy were taking root.
“The sultanate has shown its commitment to boosting non-energy growth by announcing plans to invest in key areas such as education, infrastructure, and research and development,” said the head of the global publishing, research and consultancy firm.
“The move to elevate tourism to ministerial status is yet another sign that Brunei’s bid to look beyond oil for growth, in line with its long-term development road map, ‘Wawasan Brunei 2035’, is gathering pace,” he said.
“The Report: Brunei Darussalam 2016” marks the culmination of more than six months of field research, OBG said.
The publication assesses trends and developments across the economy, including macroeconomics, infrastructure, banking and other sectoral developments and is available in print and online.

Halal and aquaculture
The report also highlighted Brunei’s halal and aquaculture industries, both of which it sees as ripe for expansion.
Also available in the report are detailed coverage of the developments under way in the country’s tourism sector, as the government moves to tap niche areas, including the eco-tourism and Islamic segments, and boost arrivals from promising markets such as China.
OBG’s report considers the key role that the country’s pipeline of projects is expected to play in supporting a more diversified economy, especially the major Temburong Bridge initiative, which will connect the two sides of the country, and a planned manufacturing hub.
The report also explores the measures that the country is taking to enhance its business environment in a bid to boost foreign investment.