Brunei economy · Economy in Brunei
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Economy in Brunei
Economy in Brunei
The backbone of Brunei's economy is oil and gas and the Sultan of Brunei is, famously, one of the richest people in the world with an estimated personal wealth of around 40 billion dollars. Per capita GDP is far above most other developing countries, and substantial income from overseas investment supplements income from domestic production. The government provides for all medical services and subsidizes rice and housing.
All sectors of economy are fairly heavily regulated and government policy is an odd mixture of subsidies, protectionism and encouragement of entrepreneurship. Brunei's leaders are attempting to balance the country's steadily increasing integration into the world economy with internal social cohesion. It became a more prominent player in the world by serving as chairman for the 2005 APEC (Asian Pacific Economic Cooperation) forum. Plans for the future include upgrading the workforce, reducing unemployment, strengthening the banking and tourist sectors, and, in general, widening the economic base beyond oil and gas.
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Brunei Travel Guide from Wikitravel. Many thanks to all Wikitravel contributors. Text is available under Creative Commons Attribution-ShareAlike 3.0, images are available under various licenses, see each image for details.