Despite his wealth, Hassanal Bolkiah Muizzaddin Waddaulah, Sultan and Prime Minister of Brunei since 1967 is surrounded by gloom. From his father he inherited a personal fortune estimated at $40 billion, which once placed him at the top of Fortune magazine's list of the world's richest people. Recent reports, however, suggest that his treasure has dwindled to a mere $10 billion-peanuts, these days. Don't bust his ass too much, The WIKI Says: Crude oil and natural gas production account for ONLY half of it's GDP. Substantial income from overseas investment supplements income from domestic production. The government provides for all medical services and subsidizes rice and housing. Brunei's leaders are concerned that steadily increased integration in the world economy will undermine internal social cohesion although it became a more prominent player by serving as chairman for the 2000 Asia-Pacific Economic Cooperation (APEC) forum. Stated plans for the future include upgrading the labour force, reducing unemployment, strengthening the banking and tourism sectors, and, in general, further widening the economic base. The national airline, Royal Brunei is trying to make Brunei a hub for international travel between Europe and Australia/New Zealand. It also has services to major Asian destinations.
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1 comments:
Those oil nations are doing crazy things to diversify. We're friends with an international finance attorney. He is currently making 25 grand a week... working on Brunei's purchase of many many many American properties. Times change. I love your blog, btw. Good stuff.
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