Importance of open economic policy for long-term sustainability highlighted

|     Danial Norjidi     |

THE importance of open economic policy for long-term sustainability as well as reviews of processes were highlighted yesterday by Legislative Council (LegCo) member Yang Berhormat Nik Hafimi binti Abdul Haadii during the afternoon session of the second day of the 15th LegCo meeting.

“The opening of economic policy is important for long-term sustainability and can indeed be achieved according to the phase of needs and the situation at the appropriate time,” she said.

“Through meetings with ministries, government-linked companies and foreign direct investments as well as working visits, we have learnt more about the implementation of national planning at all levels, and it is hoped that the milestones achieved by foreign direct investments (FDIs) are shared with the community from time to time.”

She highlighted the need to review outdated processes and complicated regulations, as well as the need to be brave enough to stand up with decisions taken and various proposals that still need assistance due to the importance of ‘Whole of Nation’.

“The focus and interest of international companies on the use of Brunei’s Halal certification in the international markets is an honour that we can be proud of.

“However, the challenges are still in the facilitation process, and I hope that upgrades in the process of review and better mechanisms as well as easier and digital processes are carried out.”

She underlined the potential of the Halal industry, and said that it may be timely to consider a proposal in the digital super cluster with more focussed approaches to implementation such as international recognition, digital Halal certification process and ecosystem framework.