Answer to Oral Question PL149

QUESTION

Yang Berhormat Awang Zainol bin Haji Mohamed

YANG BERHORMAT AWANG ZAINOL BIN HAJI MOHAMED asked Yang Berhormat Menteri di Jabatan Perdana Menteri dan Menteri Kewangan dan Ekonomi II to state the Ministry’s approach in strengthening confidence in the market as well as local services so that the domestic economy remains competitive and does not continue to experience leakage of value abroad, in view of the trend of some citizens tending to spend and obtain services overseas, including medical services.

ANSWER

Yang Berhormat Menteri di Jabatan Perdana Menteri dan Menteri Kewangan dan Ekonomi II

Thank you Yang Berhormat Yang Di-Pertua.

Kaola would like to express appreciation to Yang Berhormat Awang Zainol bin Haji Mohamed for the question regarding the trend of citizens’ tendency to spend abroad. In answering this question, allow kaola to share that the Ministry of Finance and Economy is always striving to strengthen the domestic economy so that it remains competitive.

Among the approaches taken by this Ministry is through the implementation of promotional sales activities such as Brunei Salebration, which is managed by the Department of Economic Planning and Statistics (JPES). This initiative aims to stimulate domestic consumer spending as well as encourage support for local businesses.

In addition, traders are also advised and encouraged to explore opportunities to further help increase the level of spending within the country, namely through their participation in promotional sales activities or themed campaigns, such as Youth Day, Ocean Week and the like, or by conducting broader media campaigns to attract public attention so that more spending is made domestically.

The Brunei Economic Development Board (BEDB) is also actively strengthening the capabilities of Micro, Small and Medium Enterprises (MSME) so that they are able to provide competitive products and services. This includes providing support for product development, certification, marketing, and market access to increase consumer confidence in local brand products. BEDB also encourages strategic cooperation between local enterprises to increase production scale and reduce production costs through economies of scale.

In addition, BEDB also implements initiatives such as Bruneian Made and Proudly Business Awards to increase buyers’ awareness and confidence in the quality of local products. Cooperation with local supermarkets is also being enhanced to improve market access for local products, while the implementation of the Standard Consultancy Programme can help MSMEs obtain international certification to enhance global competitiveness.

The Ministry of Finance and Economy and BEDB also remain committed to creating a business ecosystem that is friendly and responsive. Among others, this includes the provision of strategic platforms such as the BEDB Business Helpdesk and by holding dialogue sessions with stakeholders in the public and private sectors to identify business challenges faced as well as the policy improvements needed to support pro-business measures.

Meanwhile, in relation to the question regarding local medical or healthcare services, Jerudong Park Medical Centre (JPMC), which is the main private healthcare provider in this country, remains committed to offering international-standard services to reduce the people’s dependence on treatment services abroad. JPMC also provides comprehensive treatment in various fields such as neurology, oncology and, most recently, the organ transplant programme, with the support of modern facilities and local as well as international expertise. JPMC has also introduced services such as teleconsultation, health screening packages, and insurance collaboration to improve access and confidence in the local healthcare system. This initiative is not only expected to increase patient confidence, but will also support domestic economic growth by retaining spending within the country.

Apart from medical services, there are also several other efforts that have been carried out as strategic steps towards import substitution initiatives. Among the efforts undertaken are the production of local rice through Wasan Milling Company Sdn Bhd (WMC), some of which is sold in the local market as an alternative to rice already available in the market. In addition, PDS Abattoir Sdn Bhd (PDS) has also introduced a product named EnW which focuses on the sale of processed products priced economically to meet public needs.

That is all, thank you Yang Berhormat Yang Di-Pertua.