Brunei | Viettonkin JSC

Brunei Darussalam (Darussalam: Arabic word for abode of peace) is a country on the north coast of the island of Borneo in Southeast Asia. Brunei is the sovereign state which was once a naval empire that ruled all of Borneo and part of the present-day Philippines. This country is famous for having the largest oilfields in Southeast Asia. Thanks to the money from the oil fields, Brunei has well preserved its wilderness. Green prevails in the country with old-growth, primary forest.

Brunei has a small, wealthy economy with both foreign and domestic entrepreneurship. With such, income from overseas adds up to income from domestic production. Brunei also enjoys good government regulation, and welfare measures. The government provides all medical services and subsidizes food and housing for its citizens. Per capita GDP is also relatively high, standing at 28,290 USD in 2017. 

Nonetheless, the government has been trying to moving away from its dependence on oil and gas industry. Indeed, Brunei’s move of diversification is starting to bear fruit as investment in other sectors have risen 2% in 2017. The country is also looking to revitalize its tourism soon.

 

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