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Making Progress Slowly

from BRUNEI DARUSSALAM

Published online by Cambridge University Press:  21 October 2015

Pushpa Thambipillai
Affiliation:
Institute of Southeast Asian Studies, Singapore
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Summary

Brunei Darussalam's concern about addressing an array of issues was evident throughout the year. While none were uniquely pressing, most were of ongoing interest that prompted the leaders’ efforts in engaging the society towards realizing the long term goals of Wawasan 2035, Brunei's vision for national development by 2035. Although progress towards the vision was slow, results showed incremental achievements. As a hereditary monarchy, and with the absence of a contested and confrontational political environment, Brunei's national emphasis is on economic, social, and spiritual goals that can be pursued congenially.

Nudging the Economy Forward

The government has never been more serious about economic development in order to decrease Brunei's dependence on the sale of crude oil and gas. It is assisting the participation of the private sector and promoting the education and training of youth to equip them for relevant employment opportunities.

Brunei's policymakers are naturally concerned by the usual poor grades the country receives from such global studies as the World Bank's Doing Business report or the World Economic Forum's Global Competitiveness Report. Nevertheless, Brunei's overall ranking has improved over previous years, aided by high scores on such indicators as macroeconomic environment and political stability. The World Bank has classified Brunei in the high income category as it has a gross national income per capita of about US$31,000, yet its other indicators lag behind high-income economies in providing relevant and sustainable regulations for creating an attractive business environment. These findings have generated various local views and reviews by those in the public and business sectors. An initiative from the Ministry of Industry and Primary Resources stated that a single portal for business applications was in the pipeline that would eliminate the current practice of seeking approval from thirteen different agencies. The new procedures were expected to be ready by late 2011. Another concrete improvement came from the Municipal Board to speed up approval of applications for business enterprises.

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Publisher: ISEAS–Yusof Ishak Institute
Print publication year: 2012

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