The Daily Brunei Resources

Azli Azney BANDAR SERI BEGAWAN Sunday, April 3, 2016 GENTLY making its way down the Brunei River, the MV Sentosa gave its passengers a whole different view of the familiar landmarks of the capital city. It’s a familiar view for water taxi operators and those living in Kg Ayer (water village). But, for most Bruneians, the scenic ride gives a refreshed vista and experience. Now, there are several ways to enjoy the river cruise. One way is by getting on the water taxis that are available at the different jetties along the Brunei River, most popular of which are the jetties in front of the Yayasan Shopping Complex. The other is by taking the MV Sentosa, which I did recently, down the river while luxuriating on typical amenities such as cushioned seats and air-conditioning. Not that I have anything against riding the speedboats used by the typical water taxi operators; I love the feeling of wind in my face as we zip speedily down the ri...

The Oxford Business Group released the following news on 31 March 2016: +++++ Brunei Darussalam edges closer to stock market launch Brunei Darussalam Financial Services Economic News Update 31 Mar 2016 Yussof bin Haji Abdul Rahman, Managing Director, Brunei Monetary Authority (AMBD)  Preparations for the launch of a standalone stock exchange in Brunei Darussalam look to be moving ahead, supported by progress on a regulatory framework for the bourse. The Sultanate’s long-awaited exchange could open as early as next year if the groundwork is in place, according to the Autoriti Monetari Brunei Darussalam (AMBD), which oversees the country’s financial sector and is developing regulations to govern the bourse. Officials see a national stock market as pivotal in Brunei Darussalam’s plans to develop its capital markets and boost foreign inflows, and is also in line with a broader push to diversify the economy away from hydrocarbons. Focus on financial services The import...

Sally Piri BANDAR SERI BEGAWAN Sunday, April 3, 2016 A SENIOR officer of the Ministry of Foreign Affairs and Trade (MoFAT) yesterday stressed the importance of economic initiatives under the ASEAN Economic Community (AEC) and Trans-Pacific Partnership (TPP), which can create significant opportunities for Brunei’s local companies, including small-medium enterprises (SMEs). Dato Paduka Lim Jock Hoi, Permanent Secretary (Trade), in his opening remarks during the outreach programme on AEC and TPP, said these two initiatives can bring greater market access, prospects for increased competitiveness and promote the drive for the adoption of international best practices that can lead towards ease of doing business in the country. “The initiatives, however important and strategic we may consider them, are futile unless our private sectors take advantage of what has been provided,” Dato Lim said, adding that governments are only the facilitators, while private sectors are the real drivers of th...

BANDAR SERI BEGAWAN Friday, April 1, 2016 THE fourth of February 2016 marks a momentous occasion as twelve countries across the Asia Pacific region - Brunei Darussalam, Australia, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, the United States of America, and Vietnam - gathered in Auckland, New Zealand to sign the Trans-Pacific Partnership (TPP), a comprehensive free trade agreement that bridges the two sides of the Pacific. The TPP is a massive regional undertaking. But many are still wondering: What exactly is the TPP? More importantly, what does the TPP mean for a small country at the heart of Southeast Asia with a population of just around 450,000? From P4 to TPP The TPP started from humble beginnings, tracing its origins back to a smaller trade agreement called the Trans-Pacific Strategic Economic Partnership (TPSEP) or more commonly known as the P4 which stands for the ‘Pacific 4’, signed in 2005 between Brunei Darussalam, Chile, New Zeala...

The multi-purpose training centre, a 60:40 joint venture between Montreal-based simulation and training provider CAE and Brunei Darussalam’s Ministry of Finance, represents a significant non-energy investment, valued at just over $100m. Royal Brunei Airlines historic all-female flight deck from Bandar Seri Begawan to Jeddah The Oxford Business Group had this report on Brunei:- +++++ Brunei Darussalam Transport Economic News Update 16 Mar 2016 The aviation industry in Brunei Darussalam is looking to expand its contribution to the economy, with a new code-sharing agreement and ongoing investment in flight training facilities expected to increase passenger figures and stimulate employment. In mid-February Royal Brunei Airlines (RBA) finalised a code-sharing agreement with Turkish Airlines (THY) that is expected to increase passenger demand for flights into the Sultanate. Network reach Under the agreement, which came into force on February 22, passengers of...

If Asean were to be considered as a single country, it would be the 7th largest economy in the world, with a population of 622 million people. Brunei Darussalam is at the centre of Asean The next stage of integration for Asean was agreed last year through the AEC 2025 Blueprint, with the focus for Asean economic integration set out through five key characteristics Local products have benefitted in terms of product design and packaging techniques from programmes provided for SMEs through the third pillar of AEC. PHOTOS: MOFAT AEC 2015: What it means for Brunei on: March 20, 2016 THE Asean Economic Community (AEC) has been formally established by the countries of the Association of the Southeast Asian Nations (Asean) on December 31, 2015. But what exactly is the AEC, and what does it mean for Brunei Darussalam? According to a press release from the Ministry of Foreign Affairs and Trade (MoFAT), the creation of the AEC in 2015 is simply another milestone, albeit an im...

The World Policy Institute posted an interview with YB Pehin Dato Lim Jock Seng, Brunei's Minister at the Prime Minister's Office and Minister of Foreign Affairs and Trade II on 16th March 2016. Founded in 1961, the World Policy Institute, a non-partisan source of informed policy leadership for more than four decades, develops and champions innovative policies that require a progressive and global point of view. Here is the published interview: +++++ Brunei, a Southeast Asian nation with a population of only 400,000, ranks among the world’s wealthiest nations per capita due to its extensive oil and gas resources. Situated strategically on the South China Sea and a member both of APEC and ASEAN, it is also a central player in the Trans-Pacific Partnership trade pact now awaiting Congressional action. David A. Andelman, editor emeritus of World Policy Journal, sat down with Yang Berhormat Pehin Dato Lim Jock Seng, Brunei’s Second Minister of Foreign Affairs and Trade and a cl...

Azli Azney BANDAR SERI BEGAWAN Sunday, August 30, 2015 IT WAS a desire to share her beloved childhood and heritage that drove Dk Kemariah Pg Hj Duraman to open up her grandfather’s house and convert it into a cosy bed and breakfast for locals and tourists alike. Hearing about it from a friend, I decided to pay Kunyit 7 Lodge a visit by making a short boat trip to the house, less than one minute from the Yayasan jetty in Bandar, where I met the gregarious owner of the lodge, who is also known as Kem for short. The house, located right behind the No 2 jetty of Kampung Bakut Berumput at Kampong Ayer, has a mixture of classical Bruneian architecture – there since the 1920s and was last rebuilt in 1988 – and modern with the recycled wooden furniture, the decking and the French doors. Named after her late grandfather, Pg Tujoh, which means seven in English, and the fact that he loves the spice Kunyit, or turmeric, the lodge is both a homage to her late grandfa...

From Oxford Business Group on 29 February 2016: +++++ Competition heats up in Brunei Darussalam’s telecoms industry Brunei DarussalamICT Economic News Update 29 Feb 2016 Faced with an increasingly competitive marketplace, Brunei Darussalam’s telecoms operators are working to broaden their services as they look to attract new customers and gain market share. The coming months are expected to bring significant developments across the Sultanate’s telecoms industry, in the form of infrastructure advances and a regulatory overhaul. Expansion strategies, which include overseas link-ups and the rollout of competing 4G coverage, should improve service and speed, and generate cost benefits for mobile customers. Market foundations Although a relatively small market, Brunei Darussalam benefits from substantial telecoms penetration; the country reached 100% digitalisation of the phone network in 1995, while mobile penetration surpassed the 100% mark in 2008. According ...