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- W4293081485 abstract "The ASEAN Economic Community (AEC) was formally established on December 31, 2015, and is an extended initiative of regional economic integration of the ten member countries of ASEAN. It offers opportunities in the form of a single market and production base of US$2.6 trillion and over 622 million people. This integration and market liberalization aim to provide more trade and business opportunities within the region. The formation AEC is in line with Brunei’s governmental plan “Vision 2035” to create a more attractive business environment by developing a stable and economic climate in the country. The government is attempting to foster the creation of new core industries and attract greater foreign investment. This chapter will highlight the critical need of the economy to diversify away from the oil and gas sector by reaping opportunities of the AEC through foreign direct investment (FDI) and the growth of micro, small, and medium enterprises (MSMEs) to develop a vibrant private sector. As such two of the four key pillars, namely, the creation of a single market and production base and the realisation of equitable economic growth, are relevant to Brunei. In addition, it will discuss the structural problems of the economy in relation to what is happening in the rest of the AEC countries and how AEC will be able to help Brunei to improve its economy." @default.
- W4293081485 created "2022-08-26" @default.
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- W4293081485 date "2022-06-09" @default.
- W4293081485 modified "2023-09-28" @default.
- W4293081485 title "ASEAN Economic Community" @default.
- W4293081485 doi "https://doi.org/10.4324/9781003020431-23" @default.
- W4293081485 hasPublicationYear "2022" @default.
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