Answer for Oral Question PL180

QUESTION

Yang Berhormat Pehin Orang Kaya Indera Pahlawan Dato Seri Setia Awang Haji Suyoi bin Haji Osman

YANG BERHORMAT PEHIN ORANG KAYA INDERA PAHLAWAN DATO SERI SETIA AWANG HAJI SUYOI BIN HAJI OSMAN asks the MENTERI DI JABATAN PERDANA MENTERI DAN MENTERI KEWANGAN DAN EKONOMI II to state the estimated total number of jobs that will be created in the years leading up to Wawasan Brunei 2035, taking into account the increasing number of graduates and job seekers.

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 thanks to Yang Berhormat Pehin Orang Kaya Indera Pahlawan Dato Seri Setia Awang Haji Suyoi bin Haji Osman for the question regarding the estimated total number of jobs that will be created in the years leading up to Wawasan Brunei 2035, taking into account the increasing number of graduates and job seekers.

By 2035, the total population of Negara Brunei Darussalam is projected to reach 511,100 people, which is an average annual increase of 1.1 per cent. From this estimate, the total population within the working age group is 407,500 people. With a labour force participation rate of 65 per cent, the total job supply (supply) by 2035 is approximately 265 thousand jobs. This is an addition of 43 thousand jobs, or an average annual increase of 1.2 per cent, compared with the total number of jobs recorded in 2024, namely 222 thousand jobs.

If we look at the demand (demand) aspect from industry, taking into account existing activities currently being carried out as well as new projects and initiatives that have been identified, the estimated total job opportunities to be created within the 5-year period (2024 to 2028) is around 22 thousand jobs. This projected total includes job opportunities in the government sector and private sector including foreign direct investment (Foreign Direct Investment - FDI) and Micro, Small and Medium Enterprises (MSME).

The estimated total job opportunities above up to 2028 does not yet take into account the potential increase in indirect job creation (indirect), resulting from the spillover effects of economic activities that are being and will be carried out in this country. For example, in the tourism sector, increased activity in this sector is expected to have spillover effects on other sectors, such as the retail goods sector as well as the food and beverage sector (F&B), as a result of the increase in the number of tourists coming to this country. In addition, with the increase in the number of working people, domestic spending is also expected to rise and in turn help stimulate economic growth and broader job creation through the multiplier effect (multiplier effect).

The estimate of 22,000 jobs shared above (from 2024 to 2028) also does not take into account new FDI that may create more direct and indirect jobs as well as ongoing efforts to attract more FDI and increase the participation of local MSME. Therefore, the number of jobs created in 2024-2028 and in the following years is expected to increase.

However, the actual estimate of the number of job opportunities that will be created requires continuous study and monitoring. This is important so that the estimate remains relevant and aligned with current economic developments, both domestically and abroad, as well as changes in the needs of each sector.

For example, the tourism sector may continue to depend on labour in large numbers. Meanwhile, the downstream sector tends to become more intensive in terms of capital and technology use. Whereas sectors such as Information and Communication Technology (ICT) are expected to require highly skilled workers, particularly in the fields of software development, cyber security, and data analytics.

In addition, we also need to monitor the impact brought about by rapid developments in technology. This technological progress will not only change the types of skills required, but also the operating model of a business. For example, the use of automation and artificial intelligence (AI) is increasingly replacing many processes that were previously carried out by the workforce. Therefore, this technological progress requires us to remain adaptable and ensure that our workforce is equipped with relevant and dynamic skills. Therefore, national workforce planning needs to be flexible, forward-looking, and data-oriented, in order to ensure that sectoral needs can be met and that our people can be equipped with suitable skills.

That is all. Thank you Yang Berhormat Yang Di-Pertua.