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Negara Brunei Darussalam, the official name of the Sultanate means "State of Brunei, the Abode of Peace". This is a country of both political and economic stability, strategically located within the world's fastest growing economic region.
Brunei Darussalam's wealth from its abundant oil and gas resources has wisely been used to create an efficient world class infrastructure. The capital Bandar Seri Begawan combines its historic quarter with all the amenities of a modern city, with impressive office blocks, a good motorway system, regular air links from its international airport and excellent international telecommunications.
Indeed Brunei Darussalam's ability to combine the best of the past with the best of the present is one of its greatest strengths. The country's ruler, His Majesty Sultan Haji Hassanal Bolkiah Mu'izzaddin Waddaulah, is the 29th direct successor of his line, which has ruled Brunei Darussalam for over 500 years. In that time Brunei Darussalam has been a major regional imperial power, a British protectorate at the start of this century, and a sovereign state since regaining its independence in 1984. Since then Brunei Darussalam has reasserted its influence both in the region and further afield. In 1992, His Majesty celebrated 25 years on the throne.
The challenge that His Majesty the Sultan and his government have to meet is the diversification of the economy away from its major reliance on oil and gas revenues. Production of both these resources has been controlled to allow them to last for the benefit of future generations. Meanwhile oil and gas exploration continues and the current discovery of a level of new, proven reserves is in excess of the rate of depletion.
The Sixth National Development Plan, which ends this year, made the creation of diversified sources of GDP a priority. Much important work has been done, but the plan for the next five years will seek to push the process further, encouraging the creation of more local businesses involved in manufacturing as well as the service sectors. Brunei Darussalam's geographical location and infrastructure, in particular, coupled with its increased involvement in the international financial community, suggests that the state could perform a valuable role as a regional financial and banking centre.
Brunei Darussalam's citizens enjoy one of the highest per capita incomes in...