Source link : https://asia-news.biz/asia/brunei-darussalam/brunei-urged-to-revamp-and-regionalize-its-economic-strategies-for-greater-growth/
Brunei faces a critical juncture in its economic strategy, as highlighted by the recent report from the ASEAN+3 Macroeconomic Research Office (AMRO). The report urges the nation to refine its current economic approaches and adopt a more regionalized outlook to bolster resilience and sustainable growth. With its reliance on oil and gas revenues increasingly vulnerable to global market fluctuations, Brunei’s integration into broader Southeast Asian economic frameworks is seen as vital for diversification and long-term stability. As the country navigates shifting regional dynamics, AMRO’s findings underscore the urgency for policy adjustments that align with the evolving landscape of ASEAN and its key partners.
Brunei Faces Urgent Need to Diversify Economy Amid Regional Challenges
Brunei’s economic landscape is at a critical crossroads, challenged by fluctuating oil prices and increasing regional competition. The country’s heavy reliance on petroleum revenues exposes it to external shocks, making diversification not only a strategic goal but an urgent necessity. Experts emphasize the importance of nurturing emerging sectors such as digital services, green energy, and tourism to build resilience against global market volatility.
To enhance economic sustainability, Brunei must adopt a multi-pronged approach that fosters innovation and strengthens regional ties within ASEAN+3.
Key focus areas include:
- Encouraging cross-border trade and investment partnerships…
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Author : Jackson Lee
Publish date : 2025-09-16 15:13:00
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