Economic situation

Economic situation.

        Brunei is currently trying to change. From economic dependence on oil as a primary. To the economic structure. A greater diversity. With expectations that the confirmed oil reserves (proven reserve) of Brunei will be exhausted in approximately year 2558, coupled with economic slowdown in Asia since 2543 making Brunei accelerate structural economic reforms. And use different measures to create economic diversity are.


        Economic Advisory Council established. Led by Prince Ahmed Motionwear Heart game Carolina Kia (Minister of Foreign Affairs of Brunei), which promotes private sector approach. To Btbatmak up. In promoting economic development. Economic restructuring. Previously focused on the welfare policies. To promote investment from abroad. Privatization and by various private to participate more. Expanding tax collection.


         Modify foreign investment strategies of the BIA by turning to investment in new businesses that have low risk, such as buying shares in the Technology and Master of Transport. Or any other airline.

National Development Plan No. 8 (The Eighth National Development Plan: 8th NDP) conducted during the Year 2544-2548 Highlights include targeted growth rate of gross domestic product (GDP - GDP. ) at 5-6 per cent set by the budget. For implementation of the plan are $ 7.3 billion, Brunei. It is estimated that this new development strategies. Will help the government's budget balance has improved. To define measures of development. And sustainable economic recovery. Strengthen and expand the oil and gas industry. As well as the industry continued to develop various economic and social development and human resources. As well as small industries and enterprises. Expanding cooperation between the private and public sectors. Privatization some operations. And strengthen the financial system and fiscal Brunei government also seized the idea of how well parents (Good Governance), as well as focus on strengthening the private sector.


        Promoting foreign investment. And trade liberalization measures. And create a climate favorable to investment. Not only in the country. But as well as countries from the ASEAN group. And international


        Developing countries as a center of trade and tourism (Service Hub for Trade and Tourism-SHuTT 2003 Vision) and a market transfers of goods to Southeast Asia. One goal of a collaborative project of the Brunei Indonesia Malaysia Philippines-East ASEAN Growth Area (BIMP-EAGA). )


        Financial strength. For economic recovery and favorable to economic development and infrastructure projects also from the Brunei national development plan has set as International Financial Center (Brunei International Financial Center: BIFC) intended to leverage the country. In international financial services. Distribution of economic diversity. And creating jobs for the people.