Brunei Darussalam Definitions and sources of data Data on foreign direct investment (FDI) in Brunei Darussalam are reported by the Department of Economic Planning and Development (DEPD) under the Prime Minister Office. It is the main agency that coordinates, collects and compiles FDI statistics for the country. FDI data were previously collected through the International Transaction Reporting System (ITRS) from commercial banks and only cash transactions were recorded. FDI data are at present compiled based on enterprise survey. All of the three components of FDI flows (equity, reinvested earnings and intra-company loans) are reported. The data are also reported on based geographical origin and industrial sectors, using the International Standard Industrial Classification. No outward flows or stock data are yet reported by DEPD. The Brunei Industry Development Authority (BINA) collects data on approved investment projects in the manufacturing sector, particularly those that are in government s industrial estates. BINA provides the approved investment data to DEPD, who in turn report separately to such regional organization as ASEAN. The Ministry of Industry and Primary Resources, through BINA, is responsible for approving investment projects especially in areas related to the primary sector such as agriculture, fisheries and forestry activities. The provision of investment incentives such as tax holidays are administered by this Ministry. BINA, manages all industrial sites and acts as an one-stop shop for all investors wishing to make use of the country s industrial sites and facilities. There are currently nine industrial sites or estates in the country, providing facilities such as infrastructure, electricity, telecommunications and water. The Brunei Economic Development Board, established in 2002, functions as a first-stop agency and coordinates with the relevant ministries and agencies to assist investors in investing in the country. The International Monetary Fund does not report any data on foreign direct investment for either inward or outward flows to and from Brunei Darussalam.
Statistics on FDI and the operations of TNCs
Table 1. Summary of FDI Variable Inward Outward 1. FDI flows, 1999-2002 (annual average) 714.6 8.5 2. FDI flows as a percentage of GFCF, 1999-2002 (annual average).... 3. FDI stock, 2002 5 418.3 164.8 4. FDI stock as a percentage of GDP, 2002 108.8 3.3 Source : Based on UNCTAD FDI/TNC database.
Table 3. FDI flows, by type of investment, 1995-2002 Year Equity Inward investment Reinvested earnings Intracompany loans Total Equity Outward investment Intracompany Reinvested earnings loans Total 1995...... 583...... 20.0 1996...... 654...... 40.0 1997...... 702...... 10.0 1998...... 573...... 10.0 1999 656 4 87 747...... 20.0 2000 209 20 321 550...... - 3.5 2001 218 22 287 527...... 8.8 2002 380 4 652 1 036...... 8.5 Source: Department of Economic Planning and Development; ASEAN Secretariat, ASEAN FDI database; and UNCTAD FDI/TNC database. Note: Brunei Darussalam does not report outward FDI flows data.
Table 4. FDI stocks, by type of investment, 1995-2002 Year Equity Inward investment Reinvested earnings Intracompany loans Total Equity Outward investment Intracompany Reinvested earnings loans Total 1995...... 631.1...... 71.0 1996...... 1 284.7...... 111.0 1997...... 1 986.5...... 121.0 1998...... 2 559.7...... 131.0 1999...... 3 307.3...... 151.0 2000...... 3 856.5...... 147.5 2001...... 4 382.9...... 156.4 2002...... 5 418.3...... 164.8 Source : UNCTAD FDI/TNC database. Note: FDI stocks represent an accumulation of flows since 1992.
Table 5. FDI flows in the host economy, by industry, 1999-2002 Sector/industry 1999 2000 2001 2002 Total 747.6 549.2 526.4 1 035.3 Primary 740.5 529.5 506.2 417.2 Agriculture, hunting, forestry and fishing - - - 2.2 Mining, quarrying and petroleum 740.5 529.5 506.2 415.0 Mining and quarrying 740.5 529.5 506.2 415.0 Secondary 3.9 14.1 14.2 31.9 Tertiary 3.2 5.6 6.1 586.2 Construction 2.0 2.2 1.6 2.4 Trade 0.5 2.0 2.4 7.9 Business activities - 0.06 0.07 - Real estate - 0.06 0.07 - Unspecified tertiary 0.8 1.3 2.1 575.9 Source: Department of Economic Planning and Development; ASEAN Secretariat, ASEAN FDI database; and UNCTAD FDI/TNC database. Note: Due to rounding, the totals might not correspond to those presented in table 3.
Table 6. FDI flows in the host economy, by geographical origin, 1995-2002 Region/economy 1995 1996 1997 1998 1999 2000 2001 2002 Total world 582.8 653.6 701.7 573.3 747.6 549.2 526.4 1 035.3 Developed countries 264.1 292.9 307.6 316.0 735.2 531.5 508.9 986.0 Western Europe 224.9 252.5 264.7 271.9 658.8 526.1 504.5 651.6 European Union 224.9 252.5 264.7 271.9 658.8 526.1 504.5 651.6 Austria - - - - - 0.04 - - France 0.8 0.7 0.9 0.7 - - - 47.5 Germany 4.6 5.3 5.1 4.7 - - - 0.1 Netherlands 0.4 0.4 0.5 0.5 512.6 380.5 367.3 285.8 Spain - - - - - - - 15.8 Sweden - - - - 0.2 0.2 0.2 - United Kingdom 219.1 246.1 258.2 266.1 146.1 145.4 137.0 302.4 North America 15.7 12.4 14.1 15.8 - - - - United States 15.7 12.4 14.1 15.8 - - - - Other developed countries 23.5 28.0 28.8 28.4 76.5 5.5 4.3 334.4 Australia 10.2 12.0 12.0 11.9-0.1 - - Japan 6.1 7.4 7.2 6.9 5.6 5.4 4.3 295.1 New Zealand 7.1 8.7 9.7 9.6 70.9 - - 39.3 Developing economies 318.5 360.6 394.1 257.1 10.7 17.0 16.9 49.3 Latin America and the Caribbean - - - - 6.1 5.9 4.7 16.5 Other Latin America and Caribbean - - - - 6.1 5.9 4.7 16.5 Bermuda - - - - 5.6 5.4 4.3 16.5 Panama - - - - 0.5 0.5 0.4 - Asia 318.5 360.6 394.1 257.1 4.6 11.1 12.3 32.9 South, East and South-East Asia 318.5 360.6 394.1 257.1 4.6 11.1 12.3 32.5 China - - - - - - - 0.2 Hong Kong, China 4.8 5.5 6.9 8.0 0.3-0.4 0.7 India 1.4 1.4 1.5 1.4 0.04 0.2 0.3 1.5 Indonesia 11.1 11.3 11.7 11.3 0.2 2.1 0.2 2.7 Malaysia 36.3 43.1 46.8 42.9 1.6 5.4 6.1 5.8 Philippines 0.6 0.6 0.7 0.7 - - - 0.8 Republic of Korea 0.2 0.3 0.3 0.3 - - - 7.8 Singapore 262.1 296.7 324.3 191.0 2.5 3.1 4.3 9.8 Taiwan Province of China 0.8 0.3 0.4 0.4-0.3 1.0 1.2 Thailand 1.3 1.4 1.5 1.4 - - - 1.9 Viet Nam - - - - - - - 0.2 Unspecified Asia - - - - - - - 0.4 Unspecified 0.1 0.1 0.1 0.1 1.7 0.5 0.7 - Source: Department of Economic Planning and Development; ASEAN Secretariat, ASEAN FDI database; and UNCTAD FDI/TNC database. Note: Due to rounding, the totals might not correspond to those presented in table 3.
Table 7. FDI flows in the host economy, by industry and by geographical origin, 2001 Region/Economy / Sector/Industry Total Primary Mining and quarrying Secondary Tertiary Construction Trade Business activities Real estate Unspecified tertiary Total world 526.4 506.2 506.2 14.2 6.1 1.6 2.4 0.1 0.1 2.1 Developed countries 508.9 501.9 501.9 6.7 0.3-0.2 - - 0.04 Western Europe 504.5 497.6 497.6 6.7 0.3-0.2 - - 0.04 European Union 504.5 497.6 497.6 6.7 0.3-0.2 - - 0.04 Other Developed Countries 4.3 4.3 4.3 - - - - - - - Japan 4.3 4.3 4.3 - - - - - - - Developing economies 12.0 - - 7.1 4.8 1.3 1.9 0.1 0.1 1.6 Asia 12.0 - - 7.1 4.8 1.3 1.9 0.1 0.1 1.6 South, East and South-East Asia 12.0 - - 7.1 4.8 1.3 1.9 0.1 0.1 1.6 Hong Kong, China 0.4 - - - 0.4 - - - - 0.4 Indonesia 0.2 - - 0.2 - - - - - - Malaysia 6.1 - - 3.8 2.4 0.9 0.8 0.1 0.1 0.6 Singapore 4.3 - - 2.2 2.1 0.5 1.1 - - 0.6 Taiwan Province of China 1.0 - - 1.0 - - - - - - Unspecified 5.6 4.3 4.3 0.4 1.0 0.3 0.2 - - 0.5 Source: ASEAN Secretariat, Statistics of Foreign Direct Invesment in ASEAN, 2002 Edition, Jakarta.
Table 7. FDI flows in the host economy, by industry and by geographical origin, 2002 Agriculture, hunting, forestry and Mining and Unspecified Region/Economy / Sector/Industry Total Primary fishing quarrying Secondary Tertiary Construction Trade tertiary Total world 1 035.3 417.2 2.2 415.0 31.9 586.2 2.4 7.9 575.9 Developed countries 946.7 359.2-359.2 15.9 571.6 - - 571.6 Western Europe 651.6 349.9-349.9 15.9 285.8 - - 285.8 European Union 651.6 349.9-349.9 15.9 285.8 - - 285.8 Other Developed Countries 295.1 9.3-9.3-285.8 - - 285.8 Japan 295.1 9.3-9.3-285.8 - - 285.8 Developing economies 31.0 2.2 1.3 0.9 16.1 12.8 1.4 7.1 4.3 Asia 31.0 2.2 1.3 0.9 16.1 12.8 1.4 7.1 4.3 South, East and South-East Asia 31.0 2.2 1.3 0.9 16.1 12.8 1.4 7.1 4.3 China 0.2 0.2 0.2 - - - - - - Hong Kong, China 0.7 - - - 0.7 - - - - Indonesia 2.7 - - - 2.7 - - - - Malaysia 5.8 - - - 4.1 1.7-1.7 - Philippines 0.8 - - - - 0.8-0.8 - Republic of Korea 7.8 - - - 6.4 1.4 1.4 - - Singapore 9.8 - - - 1.2 8.6-4.4 4.3 Taiwan Province of China 1.2 1.2 1.2 - - - - - - Thailand 1.9 0.8-0.8 1.0 0.2-0.2 - Viet Nam 0.2 0.2-0.2 - - - - - Unspecified 57.6 55.8 0.9 54.9-1.8 1.0 0.8 - Source: Department of Economic Planning and Development; ASEAN Secretariat, ASEAN FDI database; and UNCTAD FDI/TNC database. Note: Due to rounding, the totals might not correspond to those presented in table 3.
Table 88. Largest affiliates of foreign TNCs in the host economy, 2002 (Millions of dollars and number) Company Home Economy Industry Sales Employees A. Industrial Jati Freedom Textile Singapore Textiles.. 1 000 BHP Steel Building Products Australia Metals.. 17 B. Tertiary Tobishima Brunei Japan Construction.. 1 000 Glenn Nusa-Marine Enterprise Malaysia Transport.. 100 Champion Motor Cook Islands Trade.. 56 Happy Motoring Company Malaysia Trade.. 20 VSL Systems France Trade.. 20 Sime Darby Marketing Malaysia Trade.. 17 Schindler Liftec Switzerland Trade.. 8 International Business Machines United States Other business services.. 4 O'Connors Singapore Trade.... KMS Singapore Other business services.... Lucent Technologies World Services United States Other business services.... C. Finance and insurance Assets Employees National Insurance Company Berhad Germany Insurance.. 30 Sources: The Banker's Almanac, 2003 (London, Reed Information Services, 2003); Thomson Analytics (http://analytics.thomsonib.com/); Who Owns Whom, 2003 (London, Dun and Bradstreet, 2003).
Sources of information Official Brunei Industrial Development Authority (http://www.bina.gov.bn) Brunei Economic Development Board (http://www.bedb.com.bn) Ministry of Industry and Primary Resources (http://www.industry.gov.bn) Department of Economic Planning and Development (http://www.depd.gov.bn) Secondary 1. ASEAN Secretariat, Statistics of Foreign Direct Investment in ASEAN: Comprehensive Data Set, 2002 Edition (ASEAN Secretariat: Jakarta, 2002). 2. ASEAN Secretariat, Facts and Figures: Cost of Investing and Doing Business in ASEAN (Extended Variables), 2001 Edition (ASEAN Secretariat: Jakarta, 2001). 3. ASEAN Secretariat, ASEAN Statistical Yearbook 2001 (ASEAN Secretariat: Jakarta, 2001). 4. BIMP-EAGA Secretariat, "The Brunei Darussalam, Indonesia, Malaysia and the Philippines-East ASEAN Growth Area" (http://www.eaga.org.bn). 5. Brunei Economic Development Board (BEDB), Brunei Darussalam: Your First Choice (BEDB: Brunei Darussalam, 2003). 6. Brunei Economic Development Board, "Investor's guide", undated (http://www.bedb.com.bn/guidelines2.htm). 7. Brunei Economic Development Board, "Business guide", undated (http://www.bedb.com.bn/documents/bruneibiz.pdf). 8. Brunei Industrial Development Authority, "Industrial sites", undated (http://www.bina.gov.bn/information). 9. Economist Intelligence Unit, Country Profile 2002: Malaysia and Brunei (EIU: London, 2002).