Doing Business in Brunei

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  • Topic: Brunei, Hassanal Bolkiah, Royal Brunei Airlines
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  • Published : March 6, 2013
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Doing Business in

Brunei
Produced by the UKTI Team in Brunei, based at the British High Commission in Bandar Seri Begawan Contact: Stephen Phillips Email: stephen.phillips@fco.gov.uk Last Updated: July 2012

The purpose of the Doing Business guides, prepared by UK Trade & Investment (UKTI) is to provide information to help recipients form their own judgments when making business decisions as to whether to invest or operate in a particular country. The Report’s contents were believed (at the time that the Report was prepared) to be reliable, but no representations or warranties, express or implied, are made or given by UKTI or its parent Departments (the Foreign and Commonwealth Office (FCO) and the Department for Business, Innovation and Skills (BIS)) as to the accuracy of the Report, its completeness or its suitability for any purpose. In particular, none of the Report’s contents should be construed as advice or solicitation to purchase or sell securities, commodities or any other form of financial instrument. No liability is accepted by UKTI, the FCO or BIS for any loss or damage (whether consequential or otherwise) which may arise out of or in connection with the Report.

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Are you a member of a UK company wishing to export overseas? Interested in entering or expanding your activity in the Brunei market? Then this guide is for you! The main objective of this Doing Business Guide is to provide you with basic knowledge about Brunei; an overview of its economy, business culture, potential opportunities and an introduction to other relevant issues. Novice exporters, in particular will find it a useful starting point. Further assistance is available from the UKTI team in Brunei. Full contact details are available at the end of this guide.

Important Information - Sanctions and Embargoes Some countries maybe subject to export restrictions due to sanctions and embargoes placed on them by the UN or EU. Exporting companies are responsible for checking that their goods can be exported and that they are using the correct licences. Further information is available on the Department for Business, Innovation & Skills (BIS)

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Content 1. 2. 3. 4. 5. 6. 7. 8. Introduction .............................................................................................. 4 Preparing to Export to Brunei ...................................................................... 7 How to do business in Brunei ...................................................................... 9 Business Etiquette, Language and Culture .................................................. 13 What are the Challenges? ......................................................................... 16 How to Invest in Brunei ............................................................................ 17 Contacts .................................................................................................. 18 Resources/Useful Links ............................................................................. 19

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1.

Introduction

Brunei Darussalam is situated on the north coast of the island of Borneo, in South East Asia, where it borders Sarawak (East Malaysia) and the South China Sea. Brunei became fully independent from the UK on 1 January 1984. The country is a ‘Malay Muslim Monarchy’ (MIB in the Malay acronym), governed by His Majesty the Sultan, who appoints Ministers – in accordance with strong local customs – and ensures that the proceeds from Brunei’s oil and natural gas (LNG) exports are spent in the public interest. A small population (about 420,000) also helps keep Brunei towards the top of international rankings for per capita GDP.

Strengths of the market
In brief these are:


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An adult literacy rate of 96 percent, and English is widely spoken – it is used as a language of education in State schools and many Bruneians tend to study abroad, particularly in the UK and Australia. Economic stability...
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