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(SOUTHEAST ASIA)
(Group IV)
BRUNEI
BRUNEI- is a sovereign state located on the north coast of the island of Borneo in Southeast
Asia.
BRUNEI DARUSSALAM
CHALLENGES
Globalization
Economic development
Demographic Changes
Increase HE participation from 17% to 30% in 5 years.
Key research strengths include Biodiversity, Energy, and Food Security/Agro technology,
Asians Studies, Islamic Banking and Finance.
FLAG OF BRUNEI
The design was retained when the country gained full independence on 1 January 1984 as Brunei
Darussalam (State of Brunei, Abode of Peace). On the crescent and ribbon are Arabic
inscriptions translating as "State of Brunei, Abode of peace" and Brunei's motto, "Always in
service with God's guidance".
Brunei, independent Islamic sultanate on the northern coast of the island of Borneo in
Southeast Asia. It is bounded to the north by the South China Sea and on all other sides
by the East Malaysian state of Sarawak, which also divides the state into two
disconnected segments of unequal size.
The western segment is the larger of the two and contains the capital city of Bandar Seri
Begawan. Brunei achieved independence in 1984, after having been a British protectorate
since 1888.
About three-fifths of the population of Brunei is classified officially as Malay.
This category, however, includes not only ethnic Malays but also a number of the
indigenous peoples, namely the Dusun, Belait, Kedayan, Murut, and Bisaya (Bisayah).
Chinese make up about one-fourth of the population.
Is governed by the constitution and the national tradition of the Malay Islamic Monarchy,
the concept of Melayu Islam Beraja (MIB).
The three components of MIB cover Malay culture, Islamic religion, and the political
framework under the monarchy. It has a legal system based on English common law,
although Islamic shariah law supersedes this in some cases. Brunei has a parliament but
there are no elections; the last election was held in 1962.
FORM OF GOVERNMENT
MONARCHY
Saudi Arabia
Brunei
Qatar
Oman
SULTANS OF BRUNEI
Muhammad Shah- Established the Sultanate of Brunei and was its first Sultan.
Saiful Rijal (8) - Nephew of the previous sultan, Abdul Kahar. Castile War (military
conflict between Spain and Brunei) broke out between Brunei and Spain.
Muhammad Ali (13) - Killed by his successor Abdul Hakkul Mubin, sparking the Brunei
Civil War.
Abdul Hakkul Mubin (14) - Started the Brunei Civil War by killing his
predecessor Muhammad Ali, and was in turn killed by Muhammad Ali's
grandson Muhyiddin, who succeeded him as sultan.
Muhyiddin (15) - Grandson of Muhammad Ali who avenged his death by killing his
predecessor bdul Hakkul Mubin, so ending the Brunei Civil War.
Is the 29th and current Sultan and Yang Di-Pertuan of Brunei. He is also the first and
incumbent Prime Minister of Brunei.
He succeeded to the throne as the Sultan of Brunei, following the abdication of his father
on 4 October 1967.
The Sultan has been ranked among the wealthiest individuals in the
world; Forbes estimated the Sultan's total peak net worth at US$20 billion in 2008.
The economic situation in early Brunei depended on trade where exports were mainly of
raw materials.
14th century to 19th century
- Bruneis economy during this century was weak and poor because of the activities that
had been done by the different Sultans.
- When Bruneis shrunk in size and so did its economy, the foreign and the colonial
offices preferred it to be absorbed within Sarawak.
HOWEVER:
McArthurs Report
- It suggested that Brunei would become self-sufficient after an initial loan and would
become a prosperous state.
UNTIL
1929- The discovery of oil in Seria proved significant for Bruneis economy and helped
preserve Bruneis sovereignty as a Malay Islamic Monarchy.
ECONOMY
Brunei Darussalam is a small country and rich, with a mixture of foreign and domestic
entrepreneurship, government regulation and welfare measures, and village tradition.
Its economy is almost dependent on crude oil exports and natural gas on the whole, the
result from the petroleum sector accounting for more than half of the Gross Domestic
Product. (GDP)
Bruneis per capita GDP far above many Third World Countries, with quite a lot of
income from overseas investments to increase income from domestic production.
Natural gas and oil are the major exports.
With money from these resources, Brunei is building new industries.
Farming and fishing are also very important.
There have been national economic development plans; oil and gas remain the main
source of national income. Steps are being made to establish a petrochemical industry.
In the Islamic banking sector, Brunei Islamic Trust Fund (TAIB) was established on 29
September 1991, while in 2006, the Islamic Bank of Brunei (IBB) and the Islamic
Development Bank of Brunei (IDBB) consolidated into Bank Islam Brunei Darussalam
(BIBD) with total assets of US$5 billion.
OIL AND GAS INDUSTRY
Brunei Shell Petroleum (BSP) is the chief oil and gas production company in Brunei.
This satisfy domestic demand for most petroleum products.
The French oil Company Elf Acquitaine started petroleum exploration in Brunei in
1980s. They have been discovered commercially exploitable quantities of oil and gas in
three of four wells drilled since 1987.
BRUNEIS TRADE
Bruneis economy was supported by its conquered Negeris in Borneo and the Philippines
which were rich in Natural Resources.
Brunei is strengthening its economic ties with China. After the two countries established
a bilateral economic corridor to fuel investment and trade in 2014, the latest project that
has been added to the corridor is an aquaculture joint venture that China will invest in.
The Bank of China is planning to enter Bruneis financial market and open a branch in
the country.
According to Dato Paduka Timothy Ong, acting chairman of Brunei Economic Development
Board (BEDB) 2014. Brunei has three important features:
1. Brunei has an unrivaled record of stability: Political and Economic
2. Very successful oil and gas industry: Brunei Shell petroleum, TOTAL etc.
3. An economy in transition from an oil and gas industry to a knowledge base economy.
OIL AND GAS SECTOR:
The small, but oil-rich Sultanate of Brunei Darussalam on the northern coast of Borneo
could be one of the first collateral damages of prolonged low oil prices, experts find.
The countrys dependence on oil and gas income remains inappropriately high under the
given market circumstances, both the International Monetary Fund (IMF) and the Asian
Development Bank (ADB) find, as the Islamic nations efforts to diversify the economy
have been broadly fruitless so far.
Estimates by the BP World Energy Outlook are that Bruneis hydrocarbon reserves will
run out in 22 years in case no new reserves are being discovered.
BANKING MARKETS:
iCentre ICT incubators, in order to Brunei to be globally competitive even in small size
and limited manpower.
- Innovate ideas to support businesses and technology development.
Pulau Muara Besar (PMB) island project- it is a container port, export processing zone
and a manufacturing hub.
FOOD MARKET:
Brunei Halal Brand- One of the major suppliers of halal industry both foods and
certification worldwide.
TOURIST SITES:
EVENT