Overview of best prospect sectors, major infrastructure projects, significant government procurements and business opportunities.
Brunei has an open economy favorable to foreign trade and FDI as it continues to diversify its economy away from its long-term reliance on oil and gas exports. Investment opportunities in Brunei are driven both by government planning and consumer demand.
FDI is important to Brunei as it plays a key role in economic and technological development. Brunei encourages FDI in the domestic economy through various investment incentives offered by the Ministry of Energy, Manpower and Industry and through activities conducted by the Ministry of Finance and Economy through the Brunei Economic Development Board (BEDB).
Formed in 2001, BEDB promotes Brunei as an investment destination to move its economy away from oil and gas revenue. BEDB is mandated to work with foreign and domestic investors to develop new economic opportunities where Brunei has competitive advantages, focusing on four key areas: attracting investments, strengthening local businesses, increasing Research and Development (R&D) and innovation, and delivering infrastructure projects.
BEDB has identified several industries as potential investment sectors in its efforts to diversify the economy, including life sciences, agri-business, information and communications technology (ICT), and services. Further information on BEDB is available at BEDB’s website.
The most attractive commercial sectors include:
Upstream and Downstream Oil and Gas
Commercial Aviation
Construction
Defense Equipment
Medical Equipment
Food and Beverage Franchises
In the agricultural sector, the following investment opportunities may offer lucrative investment opportunities:
Food Imports/Food Production
Fishing Industry/Aquaculture
Brunei’s ICT sector seeks to benefit from international expertise as Brunei continues to upgrade its national telecommunications infrastructure, and the financial sector seeks to modernize its banking industry with digital platforms.
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Source:https://www.privacyshield.gov/article?id=Brunei-Market-Opportunities