The Brunei Stock Exchange Project is making steady progress and, if implemented effectively, is expected to generate high-quality job opportunities, including roles such as primary and secondary dealers, research analysts and investment analysts, Minister at the Prime Minister’s Office and Minister of Finance and Economy II Yang Berhormat Dato Seri Setia Dr Awang Haji Mohd Amin Liew bin Abdullah said.
The minister said this during the 21st Legislative Council (LegCo) session on Saturday in response to LegCo member Yang Berhormat Pehin Orang Kaya Laila Setia Dato Seri Setia Awang Haji Abdul Rahman bin Haji Ibrahim on the development of the stock exchange project.
At the same time, the establishment of the stock exchange will offer investors the chance to participate in economic growth while fostering a culture of saving and investing, the minister added.
A well-regulated stock exchange is expected to enhance market transparency and accountability, making it more attractive to both local and international investors while contributing to a resilient and diversified economy.
The successful establishment of the stock exchange requires extensive market readiness, including the development of regulations, infrastructure and a supporting ecosystem. Key components include depository and custodian services, corporate financial advisors, underwriters, auditors and capable law firms.
Efforts have been made to address challenges, including the implementation of a direct business model that eliminates the need for brokers and enables realtime settlement. A feasibility study covering the establishment of the securities exchange, clearing house and central securities depository has been completed, with the implementation phase set to begin this month.
The study focuses on:
Strategic development – Outlining a roadmap for a model market ecosystem, regulatory reforms, Syariah governance initiatives, industry development, infrastructure enhancement, capacity-building programmes and cost-benefit analysis.
Market outreach – Engaging stakeholders such as regulators, market participants, potential issuers and investors.
Implementation readiness – Preparing a suitable organisational structure, Syariah governance, sukuk listings, technology requirements and licensing procedures for stock exchange operations.
REGULATORY FRAMEWORK AND LEGAL AMENDMENTS
The Brunei Darussalam Central Bank (BDCB) in collaboration with the Attorney General’s Chambers has prepared amendments to the Securities Markets Order, 2013 (SMO). The revisions include the establishment of a Listing Authority, official listing regulations and sponsor company requirements for stock market listings.
These amendments aim to promote market development, safeguard market integrity and ensure investor protection. The BDCB is also drafting listing rules, which have undergone stakeholder consultations to ensure their relevance and feasibility. The legislative amendments and regulations are currently in the final phase.
The Ministry of Finance and Economy (MoFE) will continue its efforts to establish the stock exchange, seeking cooperation from stakeholders to accelerate the project’s completion.
GOVERNMENT SUPPORT FOR ECONOMIC GROWTH AND ENTREPRENEURSHIP
In response to recommendations from LegCo members Yang Berhormat Lau How Teck and Yang Berhormat Chong Chin Yee regarding a comprehensive national framework for food security, the MoFE welcomed the suggestions and plans to explore their feasibility.
This includes research on potential agricultural land, water system improvements and enhanced collaboration with the private sector and research institutes to foster innovation in agriculture and food processing. Under a public-private partnership approach, the government will explore initiatives to boost local production competitiveness and reduce long-term costs.
To support micro, small and medium enterprises (MSMEs) and startups, the Brunei Economic Development Board (BEDB) has provided business development funds such as the Co-Matching Scheme. As of January 2025, 91 applications have been approved, with approximately BND1.4 million allocated for projects in agriculture, fisheries and technology sectors.
BEDB has facilitated access to angel investments, attracting over BND4.4 million in funding for local businesses. The Micro Bootcamp Programme also encourages participation from underprivileged groups, fostering inclusive economic development.
In collaboration with the Community Development Department (JAPEM) and the Ministry of Culture, Youth and Sports (MCYS), BEDB provides entrepreneurship training to further empower local businesses.
ENCOURAGING YOUTH INVOLVEMENT IN ENTREPRENEURSHIP
The MoFE continues to work alongside the Prime Minister’s Office, MCYS and other agencies through the Youth Entrepreneurship Steering Committee to encourage youth participation in business ventures. Training and development programmes are being implemented under the Youth Entrepreneurship Ecosystem (YEE) to equip young entrepreneurs with the necessary skills and resources. – Lyna Mohamad
