Abstract
Indonesia and Brunei Darussalam have a significantly different economic structure where the Brunei Darussalam economy is very much dominated by oil and gas, whereas Indonesia is dominated by the manufacturing, trade, and agriculture sectors. This paper aims to identify the economic sectors that have the potential to achieve Sustainable Economic Growth (SEG) in both countries. Secondary data from several sources were processed using the multifactor evaluation process method. The results show that there are two economic sectors with equal potential in the two countries, namely, the Information and Communication Sector and the Business Activities Sector. The growth in these two sectors tends to increase; the addition of labor is greater than the increase in output, and they have a relatively limited environmental impact. However, this finding does not mean that other sectors cannot be sustained. On the contrary, they need regulations that will encourage a shift to an economic growth that cares about the environment and society, especially for crucial sectors such as agriculture as a food provider, and the manufacturing sector, which produces value added goods.
Highlights
Academic Editor: Bruce MorleyIndonesia is a big country with scattered islands with a total population of around 270 million, with the highest density of its population being on JavaIsland
This study examines all economic sectors within the framework of the three pillars of Sustainable Economic Growth (SEG) in the two countries and to find which sectors of the economy have the potential to achieve SEG
The data analyzed for the period of 2014–2020 were obtained directly from the Indonesian Central Bureau of Statistics and for Brunei Darussalam, the data were obtained from the Department of Economic
Summary
Academic Editor: Bruce MorleyIndonesia is a big country with scattered islands (around 17,508 islands) with a total population of around 270 million, with the highest density of its population being on JavaIsland. Indonesia is known for having abundant natural resources, especially in agriculture, whereas Brunei Darussalam is a small country (5270 square kilometers) with a population of around 450,000. It is interesting to study these two different backgrounds among the ASEAN countries [1–3]. These two contrary economies, Indonesia and Negara Brunei Darussalam (NBD), are committed to achieve the global agenda Sustainable Economic Growth (SEG) as a part of SDGs 2030. This is evident in its medium-term development plan document. Indonesia is entering the final phase of implementation of the RPJMN
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