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ENTREPRENEURSHIP
BRUNEI ECONOMIC DEVELOPMENT BOARD
Established in 2003, the Brunei Economic
Development Board (BEDB) seeks to diversify
Brunei Darussalam’s economy and promote the
country as the preferred investment destination.
BEDB recognises five priority business and
investment areas: halal, technology and creative
industry, downstream oil and gas, tourism and
business services.
BEDB focusses on developing the local economy
by investing in export-oriented industries and
creating spin-off opportunities for local busi-
nesses. In return, this will create job opportuni-
ties for locals.
Facilitating FDIs into the country
Attracting foreign direct investments (FDIs) into
Brunei is one of the main strategies adopted
by the country to diversify its local economy.
BEDB works closely with investors to bridge the
gap between their business demands and the
country’s economic needs.
Each investor is assigned an account manager
as a single focal point. In addition, BEDB
provides information on the local investment
climate, developmental requirements, laws and
regulations, costs of doing business and project
information.
BEDB works in tandem with the FDI Action
and Support Centre (FAST) who evaluates
investment proposals, liaises with government
agencies and obtains project approvals. An FDI
fast-track system is used to ensure investors
obtain all the necessary government permit,
licenses and approvals including development
and construction approvals and recruitment of
foreign labour. The system expedites the process
of setting up a business in the country.
Aside from FAST, BEDB also collaborates with
Darussalam Enterprise (DARe) to provide opera-
tional support for the FDIs.
Through collaborating with various organisa-
tions, BEDB has helped facilitate a number of
large FDI projects in the country. This includes
a multi-billion dollar oil refinery and aromatics
plant on Pulau Muara Besar and an ammonia
and urea plant at the Sungai Liang Industrial
Park (SPARK).
Attractive incentives
Brunei offers a business-friendly environment in
its pursuit of FDIs. In addition to the dedicated
support for investors through the combined effort
of BEDB, FAST and relevant government agen-
cies, there are other attractive factors that will
benefit setting up a business in Brunei.
Among the attractive factors are 100 per cent
foreign ownership, credible co-investment part-
nership, favourable tax regime, sound legal and
regulatory framework, competitive utility rates
and readily available infrastructure.