Brunei Darussalam Tenders

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Capital Bandar Seri Begawan
ISO 3166 Code BN
Population 393,372
Area, Sq KM 5,770
Currency Brunei dollar
Official Language Bahasa Melayu
GDP, Billion USD 16,954
GDP Growth Rate, % 5.3
Inflation, Avg CP, % Chng 5.50
Interest Rates, % N/A
Unemployement Rate, % 2.7
Exchange Rate, 1 USD Equals 1.33
International dial code 673
Time Zone GMT+08:00
Internet TLD .bn

Brunei is situated on the north coast of the island of Borneo in Southeast Asia and is also a sovereign state. The country shares it coastline with the South China Sea and surrounded by Malaysia. The population of this country was estimated around 408,786 in July 2012. This Southeast Asian country comprises of two unconnected parts which covers a total area of 5,765 square kilometers. The total area of the coastline covers 161 kilometers. Most of the people in this country reside on the western part which is comparatively larger than the eastern part. Only 10,000 people live in the eastern part which is mountainous. The Bruneian Empire began to decline in the early 19th century and in 1888 Brunei became a British Protectorate and was also assigned a British resident. The country became independent from the United Kingdom in the year 1984. The economic growth was 56 percent on an average from the year 1999-2008 which transformed the country into an industrialized one. The country obtained most of the wealth from natural gas fields and extensive petroleum. It is developed as a developed country and among all the South East Asian nations; it has the second highest Human Development Index. As far as the economy of this country is concerned, it is considered a small but wealthy economy which is a mixture of domestic and foreign entrepreneurship, welfare measures and village tradition along with government regulation. Natural gas production and crude oil account for almost 90 percent of the total GDP of the country. Every day about 167,000 barrels of oil are produced which makes this country fourth largest oil producer in Southeast Asia. Brunei is also the ninth largest exporter in the world as it produces approximately about 25.3 million cubic meters. Royal Brunei Airlines wants to develop this country into a modest hub for international travel between Australia or New Zealand and Europe. The income obtained from domestic production is supplemented by substantial income derived from overseas investments. 60 percent of the food requirements are imported from another country. Brunei also relies heavily on imports of agricultural products such as rice, livestock and other food products along with electrical products and motor cars from other countries. The leaders of this country are concerned about internal social cohesion getting undermined and therefore plan on upgrading the labour force, strengthening the banking as well as tourism sectors along with reducing the unemployment which is measured 6% currently.

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