BRUNEI
ECONOMY |
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| This small, wealthy economy is a mixture of foreign and domestic
entrepreneurship, government regulation, welfare measures, and village
tradition. Crude oil and natural gas production account for nearly half of
GDP. Per capita GDP is far above most other Third World countries, and
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 APEC (Asian Pacific Economic Cooperation) forum. Plans for the future
include upgrading the labor force, reducing unemployment, strengthening the
banking and tourist sectors, and, in general, further widening the economic
base beyond oil and gas. |
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