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.
Copyright 2019 Borneo Bulletin Yearbook 2019 All rights reserved.