BANDAR SERI BEGAWAN (Xinhua) -- Brunei is planning to establish its own stock exchange by the third quarter of 2027, subject to the completion of an economic ecosystem and market model, a government minister has said.
Speaking at the Legislative Council meeting, Mohd Amin Liew Abdullah, minister at the Prime Minister's Office and second minister of finance and economy, said essential components such as auditing systems, the availability of legal advisers and the presence of qualified brokers are needed to support market operations.
According to the minister, the creation of a stock exchange is expected to enhance financial literacy among Bruneians while contributing to the broader development of the national economy.
The proposed exchange will also provide opportunities for local companies to raise capital through initial public offerings. This, in turn, will enable businesses to secure additional funding and expand their operations both domestically and internationally.
Haji Mohd Amin Liew added that, as a small market and economy, Brunei faces structural financial market considerations that require careful analysis.
However, he said the planned exchange is expected to list local government-linked companies, which would play a key role in supporting business growth and driving market activity. - Xinhua
