Brunei Darussalam
Brunei Darussalam’s economy grew by 1.4% in 2023, which was attributed to a continuous increase in the non-oil and gas sector by 4.5%. Meanwhile, the oil and gas sector declined by 2.0%.
The increase in the non-oil and gas sector was driven by the improvement in air transport (by 75.8%), finance (37.4%), and construction (7.5%). However, the contraction of the oil and gas sector was due to a decline in the production of crude oil, natural gas, and liquefied natural gas (LNG).
To stimulate economic growth, Brunei Darussalam launched a long-term development plan called Wawasan Brunei 2035 (Brunei Vision 2035). Its goals are to enhance education and skills development and improve the quality of life in the country to the highest international standards as well as develop a dynamic and sustainable economy with an income per capita that is comparable to top countries in the world.
In January 2021, the country launched its Economic Blueprint: Towards a Dynamic and Sustainable Economy, which supports the third goal of Brunei Vision 2035. It will help transform a highly dependent oil and gas economy into a dynamic and sustainable economy that provides more high-value employment opportunities and harnesses the latest technology in line with the Fourth Industrial Revolution.
The entire sultanate of Brunei Darussalam is included in BIMP-EAGA. Under the cooperation initiative, the sultanate is part of the development of the West Borneo Economic Corridor (WBEC), which also includes West Kalimantan in Indonesia, and Sarawak and Sabah in Malaysia.
BIMP-EAGA Officials and Contacts in Brunei Darussalam
BIMP-EAGA Signing Minister
Hon. Dato Seri Setia Dr Awang Haji Mohd Amin Liew Bin Abdullah
Minister at the Prime Minister’s Office and Minister of Finance and Economy II
Ministry of Finance and Economy
Senior Official
Hon. Dr. Hajah May Fa’ezah binti Haji Ahmad Ariffin
Permanent Secretary (Economy)
Ministry of Finance and Economy
National Secretariat
Madam Norhayati Ismail
Senior Special Duties Officer
Trade Division
Ministry of Finance and Economy
Mr. Yusdiman Saman
Acting Assistant Director
Trade Division
Ministry of Finance and Economy
Ms. Rokiah Kesut
Economic Officer
Trade Division
Ministry of Finance and Economy