The digital economy is one of the means to diverse and develop the country’s economy. According to the ASEAN Secretary-General, by 2030, ASEAN is poised to become the fourth largest economy in the world, with its digital economy expected to grow from approximately USD300 billion to nearly USD1 trillion.
In a speech during the afternoon session of the 20th Legislative Council (LegCo) session yesterday, LegCo member Yang Berhormat Chong Chin Yee said the Digital Economy Masterplan 2025, introduced by the Ministry of Transport and Infocommunications, illustrates that the digital economy is a key driver in transforming Brunei Darussalam into a Smart Nation with government support for digital governance, digital economy, and digital society.
“Furthermore, the Brunei Darussalam National Economic Action Plan 2025 also aims to achieve sustainable economic development, whereby the government has planned to develop the non-oil and gas sector through the exploration of new economic activities and the enhancement of five key sectors, such as information and communication technology (ICT),” she added.
Yang Berhormat Chong Chin Yee also commented on the effect left by the COVID-19 pandemic which reshaped Brunei’s economic and social landscape and led to the emergence of new enterprises and changes in consumer patterns.
The growth of home-based businesses, especially in the food and beverage sector, has showcased the resilience and innovative spirit of the Bruneian community and populace.
“These adaptations have indirectly spurred considerations on how we can integrate economic developments into diversified strategies,” she said.
However, she raised a few issues stating that while the potential for digital economic growth in Brunei is promising, questions regarding the magnitude of development in jointly examining the economic impacts of digital transformation initiatives, as well as monitoring the progress of the digital economy, are important focal points through comprehensive national strategies.
“With the surge in digital usage, there will inevitably be an increase in cyber threats. A significant rise in global losses and scams has urged stakeholders to develop strategies to comprehensively address cybercrime.
“Moreover, these challenges indirectly present job opportunities in collectively addressing cybersecurity issues in the digital world,” she said. As stated in the ASEAN+3 Macro Economic Research Office report, LegCo Speaker Yang Berhormat Pehin Orang Kaya Seri Lela Dato Seri Setia Awang Haji Abdul Rahman bin Dato Setia Haji Mohamed Taib also hoped that Brunei’s economic growth will expand and improve in the current and upcoming years and looked forward to valuable insights from LegCo and the responsive actions that can be taken by the ministries.
Legislative Council (LegCo) members also delivered their motions of thanks to His Majesty Sultan Haji Hassanal Bolkiah Mu’izzaddin Waddaulah ibni Al-Marhum Sultan Haji Omar ‘Ali Saifuddien Sa’adul Khairi Waddien, Sultan and Yang Di-Pertuan of Brunei Darussalam at yesterday’s afternoon session.
First to deliver the speech was LegCo member Yang Berhormat Lau How Teck followed by Yang Berhormat Hajah Safiah binti Sheikh Haji Abdul Salam, Yang Berhormat Chong Chin Yee, Yang Berhormat Hajah Rosmawatty binti Haji Abdul Momin, Yang Berhormat Dr Haji Mahali bin Haji Momin, Yang Berhormat Haji Salleh Bostaman bin Haji Zainal Abidin, Yang Berhormat Mohamad Ali bin Tanjong, Yang Berhormat Haji Daud bin Jihan and Yang Berhormat Lawi bin Haji Lamat.
Members fully supported the suggestions made by the Special Advisor to His Majesty and Minister at the Prime Minister’s Office Yang Berhormat Pehin Orang Kaya Laila Setia Bakti Di-Raja Dato Laila Utama Haji Awang Isa bin Pehin Datu Perdana Manteri Dato Laila Utama Haji Awang Ibrahim.
Meanwhile, LegCo member Yang Berhormat Haji Salleh Bostaman agreed with the monarch’s titah as a platform for members to provide constructive ideas and engage in discussions in a bid to stay relevant. He shared that during the previous 19th LegCo session meeting more than 500 views, suggestions and request on national issues was raised by the people.
He stated that this year the LegCo will be more proactive and transparent and to provide more ideas and fruitful discussions and hoped that the ministries will be more responsive and serious in answering questions on certain issues raised by LegCo members.
Members also pledged to step-up in their contributions towards the country’s development in a sustainable and a holistic manner.
LegCo Speaker Yang Berhormat Pehin Orang Kaya Seri Lela Dato Seri Setia Awang Haji Abdul Rahman adjourned the 20th LegCo session for today. – Adib Noor & Fadley Faisal
