Brunei Darussalam Industry Articles & Analysis

Chapter | Industry from The Report: Brunei Darussalam 2016

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 hydrocarbons production is greatly contingent on industry taking a larger share of the country’s GDP. This necessary shift towards more knowledge-based,...

Commanding the second-highest GDP per capita of all ASEAN nations, at $40,979 in 2014, Brunei Darussalam remains one of the most advanced economies in the South-east Asian region. This is in large part due to the Sultanate’s well-developed energy sector; however, with oil and gas prices falling substantially from mid-2014, new efforts are being made to increase the efficiency of production and diversify the economy to ensure future stability and sustainability.

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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...

Commanding the second-highest GDP per capita of all ASEAN nations, at $40,979 in 2014, Brunei Darussalam remains one of the most advanced economies in the South-east Asian region. This is in large part due to the Sultanate’s well-developed energy sector; however, with oil and gas prices falling substantially from mid-2014, new efforts are being made to increase the efficiency of production and diversify the economy to ensure future stability and sustainability.

With an expanding value-added processing industry and growing international interest, Brunei Darussalam’s halal sector has the potential to become a cornerstone of the Sultanate’s diversification efforts.

How likely is it that bio-industry can become a major contributor to the nation’s economic diversification?

When a widespread shortage of basic foodstuffs occurred worldwide in early 2007 and 2008, global commodity prices for wheat, rice, corn and soybean roughly tripled within a matter of months. The results of these price spikes rippled around the world and led to social unrest, ranging from the hijacking of dozens of truckloads of UN humanitarian grain shipments in Africa...