Government Structure and Society Government Structure The constitution of 1991, which declares the party to be the “leading nucleus” of the political system, provides for a National Assembly, the members of which are elected to five-year terms. The National Assembly elects the president and vice president and approves presidential appointments of the prime minister and members of… Continue reading Government & Society
Demographic Advantage Population – Laos is currently ranked as the 105th most populous country in the world, as it moved up by one place following the year 2017. According to the World Bank, the population of Laos in 2020 stood at a mere 7.38 million people. The population growth rate for Laos remains stable at around 1.5% over the last 10… Continue reading Demographic Advantage
Historical Background The Lao people, the predominant ethnic group in present-day Laos, are a branch of the Tai peoples who by the 8th century CE had established a powerful kingdom, Nanzhao, in south-western China. These Tai people soon had to leave their land, due to repeated Mongol invasions by Kublai Khan. The first Laotian state,… Continue reading Historical Background
Business Etiquette Greeting –The common greeting depends upon the ethnic origin and age of the person. Ethnic Malay men shake hands with one another. Younger Bruneians may shake hands with foreign women or bow their head in greeting. It is considered respectful to bow your head to someone senior to yourself. If invited to someone’s house,… Continue reading Business Etiquette
Digital Economy In today’s world where digitalizing is the rule of the land, and for every country it is imperative to understand its importance in order to compete at a global level. Brunei, has done the same. It has the IPR in the ASEAN, as result of which it makes it imperative for new businesses… Continue reading Digital Economy
Foreign Direct Investment FDI growth over time – As per the Department of Economic Planning and Statistics, in the year 2020 the FDI flows amounted to about $198.9 million, whereas the FDI Stock amounted to $7.2 trillion. In the same year, FDI flows reduced from the previous year by about 38.9%, whereas FDI stock increased… Continue reading Foreign Direct Investment
Taxation Structure Corporate Income Tax (CIT)-Brunei after Singapore is the most tax amicable country in the ASEAN region. The chart below depicts the comparative tax rates for the different countries in the ASEAN region. The Corporate Income Tax rate in Brunei is 18.5%. At 18.5%, the rate is well below the average for these 8… Continue reading Taxation Structure
Ease of Doing Business and Corruption Ease of Doing Business Ranking –Brunei Darussalam ranks 4th among ASEAN nations behind Singapore, Malaysia and Thailand. It has been ranked 16th in terms of ease of starting business globally, and is the 66theasiest country to do business in out of 190 countries in the world. It is also the easiest country to get… Continue reading Ease of Doing Business
Government Structure and Society Government Structure After Brunei attained full independence in 1984, an Islamic sultanate was established, and the constitution, while retained, underwent significant amendment. Ultimate authority rests with the sultan, who is both head of state and head of government. As prime minister, he presides over a Council of Ministers (cabinet) and is advised by several… Continue reading Government & Society
Demographic Advantage Population – Brunei, is typically a small country and consistently held the rank of the 175th most populous country in the world. According to the World Bank in 2020, the population of Brunei stood at a mere 437,479 people. As a result of this small population though Brunei enjoys a lot of advantages… Continue reading Demographic Advantage
