Best Countries for Business 2018

Brunei

the place image

Brunei

gdp
$12B
gdp growth
1.3%
gdp per capita
$28,300
trade balance/gdp
16.7%
population
500.0K
unemployment
6.9%
public debt/GDP
3%
inflation
-0.2%
As of December 2018
Brunei is an energy-rich sultanate on the northern coast of Borneo in Southeast Asia. Brunei boasts a well-educated, largely English-speaking population; excellent infrastructure; and a stable government intent on attracting foreign investment. Crude oil and natural gas production account for approximately 65% of GDP and 95% of exports, with Japan as the primary export market. Per capita GDP is among the highest in the world, and substantial income from overseas investment supplements income from domestic hydrocarbon
production. Bruneian citizens pay no personal income taxes, and the government provides free medical services and free education through the university level. The Bruneian Government wants to diversify its economy away from hydrocarbon exports to other industries such as information and communications technology and halal manufacturing, permissible under Islamic law. Brunei’s trade increased in 2016 and 2017, following its regional economic integration in the ASEAN Economic Community, and the expected ratification of the Trans-Pacific Partnership trade agreement.
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On forbes lists
#61
Best Countries for Business 2018
Rankings
Worst
Best
Trade freedom
5
Monetary freedom
99
Property rights
90
Innovation
79
Technology
17
Red tape
15
Investor protection
47
Corruption
31
Personal freedom
120
Tax burden
73
substantial improvement
substantial deterioration
All economic data for 2017.Sources: Heritage Foundation; World Economic Forum; Transparency International; Freedom House; World Bank; Central Intelligence Agency; Property Rights Alliance.

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