Brunei Darussalam’s efforts to diversify its economy took center stage in the latest episode of The Airport Economist, an Australian TV business programme available on the streaming platform Ticker. The episode, The Great Transformation of Brunei, aired on December 4, 2024, and highlighted the nation’s economic blueprint and its five priority sectors: downstream oil and gas, food, services, tourism, and ICT.
Minister at the Prime Minister’s Office and Minister of Finance and Economy II, and Brunei Economic Development Board (BEDB) Chairman Dato Seri Setia Dr Awang Haji Mohd Amin Liew bin Abdullah featured prominently in the programme, elaborating on the country’s diversification agenda. The BEDB, as Brunei’s focal agency for foreign and domestic investment, served as the knowledge partner, providing insights into the Sultanate’s business and regulatory environment. Their Investors’ Concierge service, which offers dedicated support and relationship management, was also highlighted.
The episode featured leading players in Brunei’s priority sectors, including Hengyi Industries, Brunei Fertilizer Industries (BFI), Royal Brunei Airlines (RB), and Royal Brunei Culinary (RBC). These companies offered a closer look at the nation’s diversification plan in action, showcasing operations that align with Brunei’s vision for a dynamic and sustainable economy under Wawasan 2035.
Expanding global reach
Hosted by Tim Harcourt, Chief Economist and Industry Professor at the University of Technology Sydney, the episode explored Brunei’s journey toward economic transformation and the role of foreign investment in achieving its national goals. Ticker, headquartered in Australia, boasts a strong local audience and significant international reach, with over 380 million viewers globally and 3.85 million monthly linear views. This extensive exposure places Brunei in the global spotlight as a promising destination for investment.
The timing of the episode aligns with the strengthening of Brunei-Australia ties, marked by the elevation of their bilateral relationship to a Comprehensive Partnership last year. It also coincides with Australia’s Southeast Asia Economic Strategy to 2040, which includes a substantial AUD 2 billion fund to support Australian investments in ASEAN.
Support from Australia
Australian High Commissioner to Brunei Luke Arnold, whose mission supported the episode, highlighted the opportunities for bilateral growth. “We’ve established a dedicated ‘deals team’ in Bandar Seri Begawan to facilitate Australian investment in Brunei,” he said, noting the potential for greater two-way investment. While Australia is a key export market for Brunei and supplies premium food products to the Sultanate, Arnold underscored the untapped potential in the investment relationship, especially in the context of both nations’ transitions to greener economies.
A vision for the future
Harcourt, reflecting on his experience recording in Brunei, praised the country’s clear vision and welcoming society. “Brunei provides stability and certainty, which foreign investors value. Witnessing the transformation, particularly in emerging industries like fertilisers and the Halal food hub, was fascinating,” he said.
The full episode split into three segments, will air on Ticker’s 24-hour news channel for one month. A dedicated Brunei section has also been added to The Airport Economist’s on-demand channel, featuring nine segments with extended interviews and insights for business travellers.
A global platform
The Airport Economist, originally a book authored by Harcourt, offers practical insights into conducting business in various countries. Since its debut as a TV series in 2016, it has profiled over 30 nations, including ASEAN countries, Latin America, Japan, South Korea, and China. The Brunei episode was further supported by RB and The Empire. – Lyna Mohammad