Brunei Darussalam has a strategic position in the heart of Southeast Asia and its advantages should be exploited to attract investment and develop the trade sector.
Legislative Council member Yang Berhormat Hajah Rosmawatty binti Haji Abdul Momin highlighted this during the 21st Legislative Council session yesterday.
The country needs to change the narrative and be brave to undertake an innovative approach to develop alternative sectors.
By taking advantage of the Sultanate’s strategic position and developing alternative sectors, this will lead to the creation of new job opportunities, increase national income and strengthen economic resilience in the face of global challenges.
She also noted the decline of the National Development Plan (RKN) operations totalling 58 per cent since RKN8 to RKN12.
This reduction raises an important question; does this signal a shift from development-focused spending to operational spending rather than long-term investment?
She said, “This is because without infrastructure improvements, how do we strengthen our efforts to attract investors and grow key industries such as food, tourism, information and communication technology and services?
“This concern is not just theoretical; it is also voiced by the business community who needs more impactful infrastructure support.”
She also emphasised the important role of the government as a strategic investor in the country’s economic development, especially through joint ventures.
“We need to understand that government investment is not just about spending but is an important part of economic growth,” she said.
Through wise investment such as joint ventures, job opportunities can be created, develop local industries and increase the country’s income. – Fadhil Yunus
