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Brunei
Darussalam welcomes foreign investment. Foreign
investors are invited to actively participate in the
current economic diversification programme of the
country. The programme hinges on the development of
the private sector. The Ministry of Industry and
Primary Resources was formed in 1989 with the
responsibility of promoting and facilitating
industrial development in Brunei Darussalam. Brunei
Darussalam offers all investors security, stability,
continuity, confidence and competitiveness.
Competitive investment incentives are ready and
available for investors throughout the business cycle
of start up, growth, maturity and expansion. The
Investment Incentive Act which was enacted in 1975
provides tax advantages at start up and ongoing
incentives throughout growth and expansion that are
comparable if not better than those offered by other
countries in the region.
Industrial activities are classified into four
categories:-
Industries
related to national food security
Industries
for local market
Industries
based on local resources
Industries
for export market
Flexible Policies
Industrial policies including manpower, ownership,
government support and facilities remain open and
flexible for all categories of industrial activities.
Brunei Darussalam maintains a realistic approach where
a variety of arrangements are feasible. Policies
relating to ownership allow for full foreign
ownership, majority foreign ownership and minority
foreign ownership, as per the type of industry and
situation. Only activities relating to national food
security and those based on local resources require
some level of local participation. Industries for the
local market not related to national food security and
industries for total export can be totally foreign
owned. Overall, in Brunei Darussalam, any industrial
enterprise will be considered.
Supportive Environment
Brunei Darussalam offers vast land and a variety of
facilities throughout all four districts of the
country. The majority of the 12 industrial sites
presently developed are ready and available for
occupation. Large expanses for agro forestry and
aquaculture are also available. Rental terms and
tenancy agreements are competitive and the sites offer
a range of facilities, infrastructure and
resources. Brunei Darussalam gives priority to ensuring
the stability of the natural environment.
As such, all sites are free from pollution and are ecologically
well balanced. The Government philosophy is for sustainable
development. Therefore, all polluting industries are banned and
one of the continuing criteria for engaging any industry's
participation is the impact on the environment.
One-Stop Agency
As the focal point for all industrial development, the Ministry of
Industry and Primary Resources coordinates all industrial
development activities. For investments in Brunei Darussalam, the
Ministry is a One-Stop Agency.
It is remarkably easy to start an industry in Brunei Darussalam. A
totally private development which does not require Government
facilities needs only the approval to start. Those requiring
Government facilities and assistance need only deal with the
Ministry, which will liaise with other agencies and expedite
applications.
The Ministry realizes the importance of time frames and clear
decision making processes to your business. The entire procedure
has only four stages:-
Approval
of the concept
Approval
of firm proposal
Approval
of physical plans
Approval
to operate
In
all four stages, the Ministry of Industry and Primary Resources is
your contact as a One-Stop Agency. In Brunei Darussalam, we make
it easy and look forward to being Your Profitable Partner. We
invite you to invest in Brunei Darussalam as a Partner in Success.
Please contact the Ministry of Industry and Primary Resources
directly - we are ready and available to help.
For further enquiries, please contact the
following:-
Chairman
One-Stop Agency
The Ministry of Industry and Primary Resources
Bandar Seri Begawan 1220
Brunei Darussalam
Telefax: (02) 244811
Telex: MIPRS BU 2111
Cable: MIPRS BRUNEI
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General Section
