IngentaConnect Brunei: Economy, Politics and Government

Abstract:

Sultan Hassanal Bolkiah, the twenty-ninth head of a royal dynasty that dates back some 600 years, has remained committed to the consolidation of his political rule. Although the head of one of Asia's oldest royal houses, the Sultan is visibly aware that social stability and, by extension, the political status quo in Brunei is at risk in the event of any severe deterioration of living standards. Rising unemployment, continuous failure to attract foreign investment, little sign of growth in the private sector and limitations on government-initiated economic generation, combine to create a sense of economic unease. Oil and gas are the core focus of the government. Brunei Shell Petroleum (BSP) dominance over Brunei's oil industry appears to be ending. Brunei is opening up 10,000 square km of deep-water fields for oil exploration, which will double the area currently under concession.

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