The Ministry of Finance and Economy (MoFE) has identified five priority sectors in advancing the country’s economic diversification drive in the coming years, Minister at the Prime Minister’s Office and Minister of Finance and Economy II Dato Seri Setia Dr Awang Haji Mohd Amin Liew bin Abdullah said.
The five sectors are oil and gas downstream sector, food, ICT, tourism and services, he said.
The MoFE is focussing primarily on the efforts of increasing investment activities in these sectors by either foreign direct investment (FDI) or through government- linked companies (GLCs).
These activities increase industry growth which in turn will be able to generate more economic opportunities for locals through increased job and business opportunities, the minister said during the muzakarah session between the MoFE and newly appointed Legislative Council (LegCo) members.
Dato Seri Setia Dr Awang Haji Mohd Amin Liew said no country was spared from the effects of the pandemic that impacted regional and global socio-economics by disrupting the supply chain. “Currently, one challenge faced by every country is the high inflation rate caused by several factors. Demand has increased after the re-opening of global economy and also geopolitics issues,” he said. “However, Brunei Darussalam will continue its efforts to diversify the economy. Towards this, the ministry plays a vital role in shaping the country into a dynamic and sustainable economy,” he said.
During the muzakarah, the MoFE shared its role as a leading facilitator to ensure all parties are aligned to the aspirations of the economic blueprint and Brunei Vision 2035 goals.
Deputy Minister (Economy) of Finance and Economy Dato Seri Paduka Haji Khairuddin bin Haji Abdul Hamid, Deputy Minister (Fiscal) of Finance and Economy Pengiran Datin Seri Paduka Hajah Zety Sufina binti Pengiran Dato Paduka Haji Sani, permanent secretaries, deputy permanent Secretaries and heads of departments attended the muzakarah.