Brunei’s non-oil and gas sector continues to grow, says minister

Dr Awang Mohd Amin delivering his keynote address; and the minister speaking to the media. - BB

BANDAR SERI BEGAWAN (Borneo Bulletin/Asia News Network): Brunei Darussalam’s non-oil and gas sector has shown continued promising growth – reaching a high of BND9.8 billion in 2021 – and is projected to continue its steady growth into the foreseeable future said Minister at the Prime Minister’s Office and Minister Of Finance And Economy II Dato Seri Setia Dr Awang Mohd Amin Liew Abdullah on Thursday (Feb 2).

Dato Seri Setia Dr Awang Mohd Amin Liew said in his keynote address that the development of the downstream oil and gas sector has proven to be instrumental in driving this growth. Positive strides “have also been made within the services sector”, which included finance, transport and logistics, he added.

“To maintain this encouraging growth, Brunei Darussalam will continue its economic diversification agenda, especially in the sectors identified in the Brunei Darussalam Economic Blueprint,” he said, adding that there has been heightened interest from industry players and businesses to utilise digital tools and data, including the use of artificial intelligence (AI), cloud computing and the Internet of Things (IoT) within various sectors, such as food, downstream oil and gas, logistics, retail and healthcare.

The minister noted that greater adoption of technology within the country’s industrial ecosystem has enabled businesses to operate more efficiently and interact with customers with greater connectivity.

In anticipation of this, he said, “We must put greater emphasis on preparing our workforce to be future ready, equipping them with the necessary knowledge and skills and providing them with greater access to technology, not only to overcome today’s challenges but also to seize tomorrow’s opportunities.”

The minister expressed his belief that collaboration from industry players within all sectors is vital for the country to generate the productivity, diversity and innovation required to drive the economy further towards the nation’s goal of becoming a dynamic and sustainable economy.

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Brunei , economy


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