Waqiuddin Rajak
BANDAR SERI BEGAWAN
HIS Majesty Sultan Haji Hassanal Bolkiah Mu’izzaddin Waddaulah, the Sultan and Yang Di-Pertuan of Brunei Darussalam, reiterated his call to bolster the private sector in achieving economic growth.
In his titah at the opening of the 12th Legislative Council (LegCo) session yesterday, the Sultan said LegCo members should direct their attention to strengthening the economy.
“I would like to hear ideas or recommendations from LegCo members on how to reduce overdependence on oil and gas resources.
“How can Brunei generate revenues and how can the government become a partner in boosting economic growth for the benefit of our people,” His Majesty added.
The monarch said opinions, recommendations or any questions raised during the LegCo proceedings should not be out of personal interest or formed after listening to one side only without proper research.
“Should this happen, it would diminish in significance and would no longer be of strategic importance to be brought up to the Legislative Council.
“Issues that were brought up should not just be discussed and debated without taking any follow-up action,” he added.
Speaking on national finances, His Majesty said the country can still afford to fund development programmes and government operations, but the government must prioritise and be prudent in spending.
The Sultan went on to say that it is the government’s policy to strengthen the private sector, where steps have been taken to improve the business environment, including the setting up of a pro-business legal infrastructure.
“For example, registration for businesses can now be done online, taking just a day, while business licences are not needed for certain businesses,” he added.
His Majesty said the setting up of the Small Medium Enterprise (SME) Centre would help companies penetrate into the international market. “It is time for us to change our business strategy, from being self-sufficient to one that is export-oriented,” he said.
“We already have national and internationl networking bodies including BIMP-EAGA, ASEAN, Asia-Pacific Economic Cooperation (APEC) and recently, the Trans-Pacific Partnership (TPP) to help generate economic growth, what remains is solid efforts towards success,” he continued.
The Sultan also spoke of the need to seize any available opportunities, urging local entrepreneurs to be competitive not just in the country, but also tap into the international market.
“Alhamdulillah, foreign direct investments (FDIs) are now operational in the country, where potential new investments are still under consideration, indicating the need for the country to revise and improve its facilitation of economic activities,” he said.
“In my opinion, we still can and are able to give our best, on the condition that we are not complacent with our pre-existing achievements,” he added.
The monarch also said LegCo members need to study what has been achieved, and take corrective measures if objectives were not met.
“In short, any planning and initiative done should be done in a ‘delivery’ approach to reach the desired goal.
“For that, it is imperative for members to have foresight and to quickly move forward; they need to take steps and be duly prepared in anticipation of any setbacks,” he added.
His Majesty then urged LegCo members to multiply their efforts in addressing issues facing residents in urban and rural areas.
“Any problems should be handled well through consultation. Hopefully our efforts would bear fruit,” he said.
Sumber - The Brunei Times
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