BANDAR SERI BEGAWAN, 14th October 2025 – Yang Mulia Dato Seri Paduka Awang Haji Khairuddin Haji Abdul Hamid, Deputy Minister of Finance and Economy (Economy), officiated the opening of the 5th International Conference on Business, Economics and Finance (ICBEF 2025) at The Empire Brunei.
In his speech, the guest of honour commended the conference for promoting collaboration among academia, government, and industry, describing it as an important platform for advancing dialogue on sustainability and innovation. He noted that “sustainability and innovation are central pillars of economic resilience. They enable economies to anticipate change, adapt to uncertainty, and create shared prosperity for future generations.” He also highlighted Brunei Darussalam’s national initiatives on renewable energy and innovation-driven growth, aligning with the nation’s goal of achieving a low-carbon and diversified economy by 2035.
The two-day conference is co-organised by the UBD School of Business and Economics (UBDSBE), Universiti Brunei Darussalam (UBD) and Hibiscus EP (Brunei) BV. Themed ‘Economic Resilience through Sustainable Business and Innovation’, ICBEF 2025 gathers more than 250 participants, including representatives from government ministries, public agencies, private institutions, and international universities. Following the officiation, Professor Jinhua Zhao, the David J Nolan Dean at the Charles H Dyson School of Applied Economics and Management, Cornell University, delivered the keynote address titled “Renewable Energies in the Era of Global Climate Change: Challenges and Opportunities.” Professor Zhao discussed the evolving relationship between public policy, private sector innovation, and global energy transition, underscoring the importance of coordinated action to meet climate targets.
The opening ceremony also featured remarks from Dr Wardah Azimah Haji Sumardi, Dean of UBDSBE, who highlighted the conference’s role as a regional hub for knowledge exchange. She also announced the signing of a Memorandum of Understanding (MoU) between UBD and Hibiscus EP (Brunei) BV, formalising collaboration in research, professional training, and talent development.
A panel discussion titled “Building Sustainable Digital Innovation Ecosystem” followed the keynote session, featuring Professor Zhao; Allen On Hsien Yung, the Director of Industry and Business Ecosystem, the Ministry of Finance and Economy, Brunei Darussalam; and Muhd Hafiz Haslen, the Chief Executive Officer of the National Digital Payments Network. The panel session was moderated by Associate Professor Dr M Muzamil Naqshbandi of UBDSBE.
In the afternoon, the conference continued with six parallel sessions exploring diverse topics, including Artificial Intelligence and Society, Circular Economy and Sustainable Growth, Sustainable Finance, Urban Development, Community and Social Entrepreneurship, and Digital Innovation and Sustainability. These sessions showcased research from academics and practitioners committed to advancing sustainable and innovation-driven economies. ICBEF 2025 features over 70 paper presentations across 20 thematic sessions, with discussions spanning Artificial Intelligence (AI), entrepreneurship, green economy, and digital transformation. The conference continues tomorrow, 15th October, at UBDSBE in UBD concluding with a Conference Dinner and Closing Ceremony at the Royal Brunei Polo and Riding Club, where the Best Paper Awards will be announced.
This year’s conference is supported by Brunei Darussalam Central Bank (BDCB), Universitas Padjadjaran (Indonesia), Silpakorn University (Thailand), Universiti Tun Hussein Onn Malaysia (Malaysia), and GoMamam as sponsor, with Hibiscus EP (Brunei) BV serving as co-organiser and main partner.
