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
Historical Background Blessed with bountiful reserves of petroleum and natural gas, Brunei despite having a small population has always enjoyed high standards of living. In the 6th century Brunei, used to trade with and pay tribute to China, before it came under the influence of the Majapahit empire, based in Java. Towards the end of the… Continue reading Historical Background
It’s personal: Cyber Frauds on the rise Newer tech, more people transacting online are giving cybercriminals newer avenues to launch personalised and innovative attacks. In March this year, the world woke up to a crypto heist, a coordinated cyberattack on the popular play-to-earn non-fungible token (NFT)-based game Axie Infinity, where attackers pocketed over $600 million… Continue reading It’s personal: Cyber Frauds on the rise
Business Etiquette Greeting – Five general-rule simple steps to giving a positive and confident greeting; 1) look the person you are greeting in the eye, 2) give a firm handshake, 3) greet them by name, 4) clearly and slowly say your own name, and 5) smile. Or if you want to give a traditional Thai greeting… Continue reading Business Etiquette
Digital Economy With the world digitising at an unprecedented rate and emerging markets vying for the attention of foreign investors, Thailand’s success in this regard will depend on how well it is able to build its digital capabilities. The internet economy will certainly be an important generator of future growth, and as such, it is… Continue reading Digital Economy
Foreign Direct Investment FDI by sector – Foreign Direct Investment net inflows in Thailand equalled US$ 2.48 billion in the year 2021 with ‘Manufacturing’ and ‘Financial and insurance activities’ receiving nearly 70% of total FDI. Manufacturing was a clear favourite among foreign investors, far surpassing the investments received by other sectors. Chart 1 below, indicates… Continue reading Foreign Direct Investment
Taxation Structure Corporate Income Tax (CIT)–The prevailing standard CIT rate in Thailand is 20%. A comparative overview of seven major ASEAN economies, as seen in the chart below, indicates that Thailand’s CIT rate is not only below the average but is also one of the lowest among these markets. This makes Thailand one of the… Continue reading Taxation Structure
Ease of Doing Business and Corruption Ease of Doing Business Ranking – According to the World Bank, doing business in Thailand is very easy. Thailand is one of the highest performing countries in the global Ease of Doing Business Index, having ranked 21st in the year 2019. As seen in the chart below, this rank puts Thailand far… Continue reading Ease of Doing Business
