Brunei Darussalam’s economic performance in 2024 demonstrated strength and positive development, having recorded a 4.2 per cent gross domestic product (GDP) growth, the highest since 1999.
The non-oil and gas sector significantly contributed to the economy, accounting for over 50 per cent of the GDP and 70 per cent of the total exports, 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 in his keynote address at the Brunei Business Conference yesterday.
From the economic performance, he said, “It has shown encouraging signs and tangible proofs that the country’s efforts have yielded some positive results. However, while we acknowledge these ‘small-wins’, our commitment remains unwavering in ensuring sustained economic prosperity.”
Over the years, he noted that the Sultanate has undertaken significant steps to streamline policies and regulations to create a more investor-friendly environment. Today, he said, “we continue to maintain our status as a safe and politically stable country, strategically located in the heart of Borneo and offering favourable and attractive tax incentives. Building on this foundation, we are also guided by the Brunei Darussalam Economic Blueprint to drive our economic diversification agenda forward while continuing to foster growth, innovation and workforce development.”
Source: Borneo Bulletin
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July 08, 2025
