Economic Growth Through New Economic Activities

Bandar Seri Begawan: His Majesty in the titah says Brunei Darussalam will continue to spur economic growth through new economic activities such as the production of Petroleum Intermediate Derivatives which will generate additional activities in the downstream oil and gas sector, making the country a hub for the chemical, manufacturing and food sectors, as well as exploring energy transition activities towards a sustainable environment.

According to Radio Television Brunei, the focus on Petroleum Intermediate Derivatives is expected to significantly boost the downstream oil and gas sector. This initiative will not only enhance the existing industry but also pave the way for Brunei to become a central hub in the chemical, manufacturing, and food sectors. The strategic move is aimed at diversifying the nation’s economic landscape and reducing dependency on traditional economic drivers.

Moreover, Brunei’s exploration of energy transition activities indicates a commitment towards fostering a sustainable environment. This exploration is anticipated to align with global trends and contribute to environmental sustainability by gradually shifting towards cleaner and more sustainable energy sources. The efforts are part of a broader strategy to ensure long-term economic stability and environmental responsibility.

In conclusion, these initiatives underscore Brunei’s proactive approach in reshaping its economic framework to meet future demands and challenges. The country’s dedication to leveraging new economic activities and pursuing sustainable practices highlights its vision for a resilient and diversified economy.