Last updated: 18 May 2012
Doing business
Current business situation
On 10 January 2012 the ASEAN-Australia-New Zealand Free Trade Agreement (AANZFTA) entered into force for Indonesia; Australia’s most ambitious trade deal to date. Australian business is urged to take a close look at the opportunities created by the agreement, as it will deliver real commercial benefit for Australian exporters and investors doing business in Indonesia. More information on AANZFTA.
Business culture
Business tips
Business practices:
- Avoid visiting Brunei around Hari Raya (at the end of the Muslim fasting month) or Chinese New Year. These holidays fall on a different month every year and many businesses are closed at this time.
- When inviting Bruneians to lunch or dinner, consider their ethnic origins (eg. pork is forbidden among Muslims). As an option, you may find it easier to ask your guests to recommend a restaurant.
- Avoid conversations concerning sex, religion or politics.
- When entering a Malay or Chinese house, shoes should be taken off and left outside.
Social etiquette with Brunei Malays:
- It is considered impolite to show the soles of your feet when seated opposite a person. Do not cross your legs, but keep your feet flat on the floor.
- Use your right hand at all times when giving or receiving.
- Avoid touching and pointing. If you need to point, use the thumb of your right hand with your other fingers clenched.
- Public displays of affection such as hugging and kissing are not usual in Brunei. It is not customary to shake hands with a member of the opposite sex. Wait for them to offer first.
Social etiquette with Brunei Chinese:
- When giving or receiving an item, such as a business card, it is polite to offer or receive the item with both hands.
- Avoid touching and pointing.
- Don’t sit until your host or hostess invites you to do so.
Setting up in Brunei
The Brunei Economic Development Board plays an important role of stimulating the growth, expansion and development of Brunei’s economy by promoting Brunei Darussalam as an investment destination.
The Board is also responsible for implementing government policies and preparing investment promotion plans, incentives and marketing strategies to attract foreign and local investments.
For further information on setting up in Brunei, contact:
The Brunei Economic Development Board
Block 2K, Bangunan Kerajaan
Jalan Ong Sum Ping
Bandar Seri Begawan BA1131
Brunei Darussalam
Tel: +673 2230 111
Fax: +673 2230 082
Web: www.bedb.com.bn
Email: info@bedb.com.bn
Banking and finance
There are 11 banks that provide full banking services in the country. The banks in Brunei are:
- Baiduri Bank Berhad
- Bank Islam Brunei Darussalam Berhad
- Citibank NA
- HSBC
- Malayan Banking Berhad
- OCBC
- RHB Bank Berhad
- Royal Bank of Canada
- Standard Chartered Bank
- Tabung Amanah Islam Brunei
- United Overseas Bank
Links and resources
Government, business and trade
National Chamber of Commerce and Industry Brunei – www.nccibd.com
Brunei Industrial Development Department – www.bina.gov.bn
Brunei Ministry of Development – www.mod.gov.bn
Prime Minister’s Office of Brunei Darussalam – www.pmo.gov.bn
News and media
The Borneo Bulletin – www.borneobulletin.com.bn
Please note: this list of websites and resources is not definitive. Inclusion in this list does not imply endorsement by Austrade. The information provided is a guide only.