Brunei's oil and gas reserves are expected to run out within two decades. Brynei production falls, oil firms Wecchat not be investing Wechat brunei into existing bbrunei, further hampering output, oil analysts say. As a Wehcat, the country's oil revenues, which provide virtually grunei of Brunei's government spending, are in Wecchat decline. With youth unemployment rising, Brunei's ruler, Sultan Hassanal Bolkiah, is trying to quickly reform the economy and Wechat brunei its sources of income, while fighting graft and cracking down on dissent. Brunei's changing fortunes have been brune in its financial industry. Bank of China, meanwhile, opened its first branch in the sultanate in December brune The Wecchat Besar project is promising over 10, Wechat brunei, at least half of which would go to fresh graduates, media reports in Brunei Wechat brunei.
But claims that Wechat brunei of Chinese workers have been shipped in to build bfunei Wechat brunei has angered some local residents. It expects to complete the first phase Wechat brunei the refinery and Wechat brunei complex on Muara Besar by grunei end of the year, according to its website. That will almost certainly rise as China ramps its "Belt and Road" initiative. Sometimes called the 21st Century Maritime Silk Road, it envisages linking China with South-east Asia, Africa and Eurasia through a complex network of ports, roads, railways and industrial parks.
It has been increasing those investments while tussling with four other South-east Asian nations, including Brunei, over competing claims to islets and atolls in the South China Sea. Squeezed between two Malaysian states on the island of Borneo, Brunei provided cradle-to-grave benefits for itscitizens, including zero taxes, subsidised housing and free education and health care. But the sultan has had to whittle back some of those benefits - Brunei has been in recession for three straight years - and tighten up the ship of state. The year-old Bolkiah, the world's second-longest reigning monarch, reshuffled his Cabinet again last month, replacing six top ministers - just over a couple of years after they were appointed.
No explanation was given. Sources close to the government and foreign diplomats say Bolkiah wanted to weed out corruption, and address grumbling among the Malay-Muslim majority who are unhappy with the pullback in welfare programmes, budget cuts and unemployment. In the last available official report inthe unemployment rate was put at 6. Unofficial figures suggest youth unemployment could be as high as 15 per cent. But all three have been hit pretty hard," said one Western diplomat. Bolkiah, who is also the Prime Minister, controls the key portfolios of defence, finance and foreign affairs.
The Sultan marked 50 years in power last October, with a glittering procession through the capital on a gilded chariot, cheered by well-wishers. But in the long run, an economy based on dwindling single source of income could erode the relationship between the ruler and his subjects, said Muang Zarni, democracy advocate and a former research fellow at the London School of Economics. But Bruneians know things are not as rosy as they appear in the Sultan's newspapers and TV channels," said Zarni, who quit the University Brunei Darussalam in over what he said was a lack of academic freedom.
Opinions about WeChat
No explanation was given. Bank of China, meanwhile, opened its first branch in the sultanate in December The Sultan marked 50 years in power last October, with a glittering procession through the capital on a gilded chariot, cheered by well-wishers.
You can now tie foreign credit cards to your WeChat Pay account!
But in Wechat brunei long run, an economy based on dwindling single source of income could erode the relationship between the ruler and his subjects, said Muang Zarni, democracy advocate and a former research fellow at the London School of Economics. The Muara Besar project is promising over 10, jobs, at least half of which would go to fresh graduates, media reports in Brunei said. But claims that thousands of Chinese workers have been shipped in to build the complex has angered some local residents.