Brunei does not have a national competition policy at present. Nevertheless, Brunei is an economy that is relatively open towards the promotion of efficient competition. Brunei has also been moving progressively towards a more open and liberalized economy through building better trade relations and promoting foreign direct investment. Brunei is also undertaking efforts to further develop its local economy such as through widening opportunities for small and medium enterprises as well through the embarkation of a privatization masterplan. Brunei acknowledges the positive benefits it can garner from having efficient competition such as economic growth and enhanced consumer welfare.