BRUNEI SMALL MEDIUM ENTERPRISE
In April 1997, The Registrar of Companies and Names has at least 40,000 registered business under sole proprietorship or partnership and 2,000 companies. Almost 90 % of these are considered as small and medium enterprises(SMEs). These businesses have between 0 - 100 employees
.
In April 1997, The Registrar of Companies and Names has at least 40,000 registered business under sole proprietorship or partnership and 2,000 companies. Almost 90 % of these are considered as small and medium enterprises(SMEs). These businesses have between 0 - 100 employees
.As in other countries, SMEs has a great contribution to the economy. In 1994, SMEs contributed around 66.2 % to the nation's GDP (7th National Development Plan). This was estimated to rise to 68.4% in 1995. Brunei's SMEs also provides at least 70% of employment in the private sector. In the service and manufacturing sectors, the contribution of SMEs is estimated at 38 - 40%
General Philosophy on Economic Development and Investment
" We have always welcomed foreign investment. We are ready and willing to look at suggestions from would-be investors"
General Philosophy on Economic Development and Investment
" We have always welcomed foreign investment. We are ready and willing to look at suggestions from would-be investors"
His Majesty the Sultan and Yang Di-Pertuan of Brunei Darussalam
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.
While Brunei Darussalam aims for the development of industries it 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.
While Brunei Darussalam aims for the development of industries it 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.
Reasons to Invest in Brunei
Investors will find that Brunei Darussalam offers a favourable and conducive environment for a profitable investment. Some of the key reasons are:-
Brunei Darussalam is a stable and prosperous country which offers not only excellent infrastructure but also a strategic location within the ASEAN group of countries ;
Brunei Darussalam has no personal income tax, no sales tax, payroll, manufacturing or export taxes. Approved foreign investors can also enjoy a company tax holiday of up to 8 years;
Brunei Darussalam is a stable and prosperous country which offers not only excellent infrastructure but also a strategic location within the ASEAN group of countries ;
Brunei Darussalam has no personal income tax, no sales tax, payroll, manufacturing or export taxes. Approved foreign investors can also enjoy a company tax holiday of up to 8 years;
The regulations relating to foreign participation in equity are flexible. In many instances there can be 100 percent foreign ownership;
There are no difficulties in securing approval for foreign workers, ranging from labourers to managers;
There are no difficulties in securing approval for foreign workers, ranging from labourers to managers;
The costs of utilities are among the lowest in the region;
The local market, while relatively small, is lucrative and most overseas investors will encounter little or no local competition;
The living conditions in Brunei Darussalam are among the best and most secure in the region.
Above all else, His Majesty’s Government genuinely welcomes foreign investment in almost any enterprise and will ensure that you receive speedy, efficient and practical assistance with all your inquiries.
The local market, while relatively small, is lucrative and most overseas investors will encounter little or no local competition;
The living conditions in Brunei Darussalam are among the best and most secure in the region.
Above all else, His Majesty’s Government genuinely welcomes foreign investment in almost any enterprise and will ensure that you receive speedy, efficient and practical assistance with all your inquiries.
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