7. Country Profile
Currency: Brunei Dollar
1 US. Dollar = 1.37 Brunei Dollar
1 Brunei Dollar = 23.98 Baht
Brunei and Singapore Agreement
1 Brunei Dollar = 1 Singapore Dollar
and it can be use as the same currency
29. 10 Tips in Doing Business in Brunei
#1 Tip
Brunei authorities boast a large set of subsidies and tax-
exemption schemes aimed at diversifying the economy
outside of oil and gas.
The clients are likely to benefit from such incentives
by providing the authorities with a good business plan.
30. 10 Tips in Doing Business in Brunei
#2 Tip
Finding performing employees is a key challenge in
Brunei.
Locals often prefer less challenging but well paid public
sector position, while skilled foreigners often dismiss
Brunei as a backwater country.
31. 10 Tips in Doing Business in Brunei
#3 Tip
Brunei government actively promotes entrepreneurship
by organizing workshops.
Such events are not only instructive but can also help
the clients to build their own network of business
partners and customers.
32. 10 Tips in Doing Business in Brunei
#4 Tip
Opening a corporate bank account in Brunei may be
difficult for Clients with less established businesses.
In such cases, opening a bank account in Malaysia,
Singapore or Hong Kong proves an excellent alternative
solution.
33. 10 Tips in Doing Business in Brunei
#5 Tip
While the official language of Brunei is Bahasa
Malaya, most locals are fairly fluent in English.
However, many low skilled foreign workers are coming
from Indonesia and do not speak English, which may
prove a problem for HR management.
34. 10 Tips in Doing Business in Brunei
#6 Tip
Never ask for business meeting with a Bruneian partner
on a Friday, as it is a holy day dedicated to prayer and
rest in Brunei.
When setting an appointment, the Clients should be
careful not to set it on prayer time.
35. 10 Tips in Doing Business in Brunei
#7 Tip
The clients should carefully check the background of
their foreign employees.
They will indeed be legally liable if their employee
commits any wrongdoing.
36. 10 Tips in Doing Business in Brunei
#8 Tip
Brunei is the country that has strongly beliefs in
religions, so most of their activities are under the
religious way.
And the clients must not disparage their religions.
37. 10 Tips in Doing Business in Brunei
#9 Tip
If the Clients have the pocket money while traveling in
or out the country which is more than 15,000 Brunei
Dollar, they have to show it to customs authorities in
order to prove that the Clients are following the law.
38. 10 Tips in Doing Business in Brunei
#10 Tip
The Emergency Phone Numbers are:
991 for Ambulance
993 for Police Office
995 for Firefighter Office
998 for the Rescue
40. Challenge in Doing Business in Brunei
Strongly Religious Beliefs
“Brunei bans Christmas celebrations”
Government of the country prohibits public festivities
saying they could damage the Muslim faith.
41. Challenge in Doing Business in Brunei
Strongly Religious Beliefs
“Brunei Cracks Down on Chinese New Year ”
Brunei has imposed strict restrictions on Chinese New
Year performances as part of an incremental crackdown
against non-Muslim cultural and religious events in the
country.
47. Cross Cultural Management
The Cross Cultural Management will help us to
eliminate the problems that will cause the bad results to
the clients themselves.