• Today: October 9, 2026

Brunei committed to sustainable and competitive economic growth

Brunei Darussalam remains firmly committed to realising the aspirations of Brunei Vision 2035, guided by the country’s National Development Plans such as the Brunei Darussalam Economic Blueprint.

As captured in the National Budget for Financial Year 2026/2027, Brunei Darussalam aims to generate an economy that is sustainable, resilient, and competitive, supported by robust fiscal management, economic transformation and innovation, and sustainable development for future generations.

Brunei’s commitment to sustainable and competitive economic growth was highlighted by Minister of Finance II Dato Seri Setia Dr Awang Haji Mohd Amin Liew bin Abdullah at the launching of the Country Engagement Framework between the Islamic Development Bank (IsDB) Group and Brunei Darussalam yesterday morning at the Ministry of Finance.

Such aspirations, he said, “are closely aligned with the principles of Maqasid Syariah, which promote the well-being, and prosperity for our people and the preservation of resources for the present and future generations. This shared foundation gives our partnership its distinctive character in which we are pursuing the same ends, and can therefore pursue them together.”

The Country Engagement Framework, he explained, “is anchored on the theme ‘Moving Towards a Diversified, Dynamic and Sustainable Economy’. It is structured around two main pillars; first, promoting sustainable Islamic finance; and second, private sector development, while addressing cross-cutting priorities of capacity building, empowerment of women and youth, and climate adaptation and mitigation.”

For Brunei, he noted, “the Framework supports our Brunei Vision 2035 agenda; attracting quality investments, transferring knowledge and skills, opening new markets and generating meaningful economic spin-offs, MSME development and quality employment. It also offers scope to harness technology, innovation and digital transformation, strengthening our competitiveness, productivity and efficiency in a rapidly evolving global economy.”

He added, “Brunei recognises that the strength of the IsDB Group extends well beyond financing. The Group brings together expertise in development and Islamic finance, private sector development, trade and investment, technical assistance, capacity building and knowledge sharing, together with an extensive network across its 57 member countries. We therefore view the IsDB as a strategic development partner one that can connect Brunei Darussalam with expertise, technology, investment, markets and new economic opportunities. We can also explore opportunities for solutions that catalyse greater private sector participation while maximising impact and optimising resources.”

Equally, he mentioned, “Brunei Darussalam can contribute its own experiences such as in Islamic finance regulation and halal industry development, and in embedding Maqasid Syariah principles within national policy as knowledge that other member countries may draw upon.”

This reciprocity extends to human capital as well. Brunei’s professionals, institutions, and private sector welcome opportunities to participate in IsDB’s technical cooperation programmes. In this way, the IsDB’s engagement in Brunei Darussalam can demonstrate a working model of how Islamic finance and private sector development can advance shared prosperity within a small, resource-based economy that is diversifying its economy.

Ultimately, he emphasised, “the success of this partnership will be measured by tangible outcomes. I therefore encourage all government ministries and agencies, financial institutions and stakeholders represented today to engage actively with the IsDB Group, in identifying viable and implementable initiatives that can promote the achievement of our Brunei Vision 2035. Today’s engagement should not simply be an exchange of views, but the beginning of concrete follow-up and implementation.”

Meanwhile, President of the IsDB Dr Muhammad Al-Jasser highlighted, “Covering 2026–2028, the Framework is aligned with Brunei Vision 2035, the Twelfth National Development Plan, and the IsDB Group Strategic Framework 2026–2035. It therefore brings together vision, partnership, and action.”

He added, “Our engagement will focus on two mutually reinforcing pillars. First, sustainable Islamic finance – to deepen Islamic and social finance, strengthen Islamic capital markets, advance Sukuk capabilities, and unlock the potential of Waqf for inclusive development. Second, private-sector development – to empower MSMEs, foster entrepreneurship, expand the halal ecosystem, create quality jobs, and widen access to finance. Across both pillars, the Framework will strengthen the foundations of sustained progress: institutional capacity, women and youth empowerment, and climate resilience.”

He also reiterated that the IsDB Group stands ready to bring the full strength of its institutions to this partnership, mobilising expertise and resources in Islamic finance, private-sector development, trade finance, export credit insurance, and South-South cooperation.

He said, “We are committed to walking this journey with Brunei Darussalam – not only as a financier, but as a trusted development partner in realising Brunei Vision 2035.”

Minister of Finance II Dato Seri Setia Dr Awang Haji Mohd Amin Liew bin Abdullah, President of the Islamic Development Bank Dr Muhammad Al-Jasser and Deputy Minister of Finance Pengiran Datin Seri Paduka Hajah Zety Sufina binti Pengiran Dato Paduka Haji Sani as well as senior officials in a group photo. PHOTO: JAMES KON
Officials at the event. PHOTO: JAMES KON

 

SOURCE/AUTHOR : BORNEO BULLETIN/JAMES KON

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