Brunei Darussalam is a Southeast Asian oil-rich Sultanate on the northern coast of Borneo. A British protectorate until 1984, it boasts a well-educated and largely English-speaking population, excellent infrastructure, and a government intent on diversifying the economy and bringing foreign investment to Brunei. Despite repeated calls for diversification, Brunei's economy remains overwhelmingly dependent on the income derived from the sale of oil and gas, which represents 91.5% of Brunei's total exports and 67.7% of gross domestic product (2011). Additionally, substantial revenue from overseas investment supplements income from domestic production. These two revenue streams provide a comfortable quality of life for Brunei's population. Citizens pay no taxes and receive free education through to the university level, free medical care and subsidized housing. Brunei's central location in Southeast Asia, with good telecommunications and airline connections; no personal income, sales or export taxes; and its stable political situation offer a welcoming climate for would-be investors. Brunei has an investment incentive scheme where companies that are granted a "pioneer" certificate can enjoy corporate tax exemptions up to 5, 8 or 11 years, with possible extensions, depending on the nature of industry and amount of fixed capital through a program administered by the Ministry of Industry and Primary Resources.. Additionally, a low crime rate, good schools, housing and sports facilities as well as low utility costs make Brunei an attractive location for short and long-term residence. Life in Brunei reflects the national philosophy of the Malay Islamic Monarchy (MIB in Malay). Brunei has no debt, domestic or foreign, and has not been the recipient of economic aid. Despite importing most consumer goods and food, Brunei's large oil exports keep its trade balance positive. The Brunei dollar is pegged to the Singapore dollar at a one-to-one ratio, and the Singapore dollar is legal tender in the Sultanate.