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PREFACE
Brunei Darussalam’s economy is projected to grow steadily in the next
few years, with the International Monetary Fund reporting that the
Sultanate’s gross domestic product (GDP) is slated to grow at 4.8 per cent
in 2019, 6.6 per cent in 2020 and 2.2 per cent in 2024.
The drive towards becoming a Smart Nation and maximising digital
economic potential is directed through four main approaches, namely
infrastructure improvement, cyber-security, agility and engagement.
Borneo Bulletin Yearbook (BBYB) highlights the initiatives and strides
taken by the government and private sectors in driving the country
towards its Smart Nation goals and keeping abreast with the Fourth
Industrial Revolution or ‘Industry 4.0’, which is linked with the emergence
of advanced technology such as artificial intelligence (AI), robotics,
Internet of Things (IoT) and cloud computing, to name a few.
An area of keen interest is a major transformation initiated in the ICT
sector announced in 2019 to accelerate the nation’s digital agenda, where
the network infrastructure of all existing telecommunication operators
is combined under a newly formed wholesale network operator called
Unified National Networks Sdn Bhd (UNN), which has been incorporated.
The content features key information about Brunei with a special focus
on the agriculture and aquaculture industry, the ICT industry, innovative
technology and creative industry, the banking industry, business services
and tourism. BBYB 2020 also highlights significant milestones achieved
by the oil and gas industry in fuelling the nation.
This comprehensive guide includes interviews with key government
officials who share insights into the country’s economic outlook. Captains
of industry from business associations and regulatory bodies also provide
their views on the progress Brunei has made.
Success stories of Foreign Direct Investments (FDIs) that have
established themselves in Brunei are also explored, providing evidence
and information regarding incentives on offer for other prospective
investors to consider. The stories of local companies and individuals who
have enjoyed measurable success in their field are also touched upon.
Embracing Tomorrow
Towards a Smart Nation