Public-private partnerships play an important role in advancing economic growth, promoting innovation, strengthening key industries and contributing to the country’s long-term economic vision under Brunei Vision 2035, said Minister at the Prime Minister’s Office and Minister of Finance and Economy II Dato Seri Setia Dr Awang Haji Mohd Amin Liew bin Abdullah.
The minister said this in a keynote address during the Brunei Economy Roundtable 2025 at the Baiduri Community Space on Monday.
He added, “Over the past year, Brunei Darussalam has made significant strides in diversifying its economy. In 2023, the non-oil and gas (non O&G) sectors contributed over 50 per cent to gross domestic product, reflecting sustained progress in our economic diversification efforts.”
The achievement, he said, “Reflects our commitment to export more on non-O&G sectors, including petrochemicals, food processing, manufacturing and fostering a more dynamic business ecosystem.”
For 2025, the government has outlined key economic drivers, including diversification beyond oil and gas where the government is ramping up efforts to continue to nurture industries in our priority sectors which are downstream O&G, food production, services, information and communication technology (ICT) and tourism.
In fostering a vibrant private sector, the minister said, “We’re committed to further strengthening and creating a supportive business environment through streamlined regulations and targeted support for micro, small and medium enterprises (MSMEs).”
Meanwhile, enhancing access to foreign markets, another key driver, will “enhance and update the country’s trade agreements like RCEP and CPTPP, and will help facilitate market access and attract investments”, he added.
The minister also said embracing innovation and digital transformation is inevitable for any society, where the government will continue to work on initiatives such as those under the Digital Economy Masterplan 2025 to modernise the economy and boost digital capabilities.
On sustainable development, the minister said, “It’s crucial that we balance economic growth with environmental responsibility; Brunei is dedicated to sustainable practices as outlined in our national climate policies,” adding that collaboration among all stakeholders is essential in achieving the goals and ensuring macroeconomic stability.
Highlighting the importance of financial institutions in fostering a resilient economy, Baiduri Bank Chief Executive Officer (CEO) Ti Eng Hui emphasised their critical role in enabling business growth, innovation, and investment.
He said, “Baiduri Bank is honoured to host the Brunei Economy Roundtable for the second time, reaffirming our commitment to supporting platforms that facilitate meaningful discussions on economic growth, investment, and business development in Brunei.”
Meanwhile, President of the National Chamber of Commerce and Industry Brunei Darussalam and member of the ASEAN Business Advisory Council Brunei Haji Abdul Saman bin Haji Ahmad highlighted the importance of regional collaboration within ASEAN in unlocking new trade and investment opportunities for Brunei.
He said, “The ASEAN Business Advisory Council of Malaysia’s theme as Chair of ASEAN is ‘Unifying Markets for Shared Prosperity’ and offers significant opportunities for investment, trade, and business expansion for Brunei’s private sector.”
Echoing the sentiment of regional economic integration, Standard Chartered Bank Brunei CEO and Chair of APEC Business Advisory Council (APEC BAC) Brunei Pengiran Aki Ismasufian bin Pengiran Haji Ibrahim spoke on the opportunities presented by APEC’s vast network of economies.
He said, “ABAC Korea’s theme for the year is Bridge. Business. Beyond. This reflects ABAC’s commitment to strengthening economic integration, business-led solutions, and cross-border connectivity in the Asia-Pacific region.”
He also underscored APEC BAC Brunei’s ongoing efforts to advocate policies that promote trade liberalisation and investment growth for Brunei’s private sector.
Themed ‘Growing. Diversifying. Together’, the roundtable was hosted by the ASEAN and APEC Business Advisory Councils of Brunei Darussalam.
It provided a high-level platform for engaging discussions on the future of Brunei’s economy, investment opportunities, and strategic partnerships to drive sustainable growth.
