Response to Oral Question PL150

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📖 Reading time: 4 minutes
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YANG BERHORMAT AWANG ZAINOL BIN HAJI MOHAMED

QUESTION:

YANG BERHORMAT AWANG ZAINOL BIN HAJI MOHAMED asked the MINISTER AT THE PRIME MINISTER'S OFFICE AND MINISTER OF FINANCE AND ECONOMY II to state what is the Ministry's strategy to draft a comprehensive and structured regional economic examination? This is so that rural development is not only in small stages but also capable of contributing to the national economic growth through active participation of local businesses.

YANG BERHORMAT MINISTER AT THE PRIME MINISTER'S OFFICE AND MINISTER OF FINANCE AND ECONOMY II

ANSWER:

Thank you Yang Berhormat Yang Di-Pertua,

Kaola would like to thank Yang Berhormat Awang Zainol bin Haji Mohamed for the question regarding the Ministry's strategy for drafting a comprehensive and structured regional economic examination.

In this matter, the implementation of the Economic Blueprint framework for Brunei Darussalam, particularly through Aspiration I, namely Productive and Rapid Enterprises. The policy direction under this aspiration encourages widespread growth by strengthening priority sectors, including exploring new economic activities and attracting foreign direct investment (FDI). The development of local enterprises and FDI, which are not only concentrated in urban areas but also include rural areas, are amongst the main strategies supporting the development of five (5) priority sectors.

For instance, several local enterprises and FDI companies have been supported in their development in the Tutong District such as for Golden Corporation, a company involved in aquaculture and seafood/fish processing, expanding cold storage facilities, and logistics infrastructure. Additionally, Mori Farm, a company prioritizing chemical-free farming methods in producing organic and herbal products in powder form such as mint, dill, lemongrass, and oregano, is also based at the Sinarut Agriculture Training Centre in Kampong Sinarut, Tutong. Among Mori Farm's achievements is its participation in the ASEAN Trade Fair 2022 in South Korea, representing the country for organic and herbal products, thus providing international exposure and opportunities for export market validation.

In the tourism sector, Freme Travel Services has successfully provided tourism services through 3 branches in Kuala Belait, Seria, and Bandar Seri Begawan. The company also operates at Freme Rainforest Lodge in Temburong, offering eco-tourism packages such as the Ulu Temburong National Park tour. Additionally, The Abode Resort and Spa, an eco-tourism concept resort which also uses solar energy, is located in Labu, Temburong.

With the implementation of this policy direction and continuous support for local enterprises, it is hoped to contribute to more inclusive and sustainable regional economic development, and subsequently to the comprehensive progress of the national economy.

For the information of Your Honourable Members, the Brunei Economic Development Board (BEDB) also provides training programs and entrepreneurial guidance initiatives and market access support, including supporting the One Village, One Product (1K1P) initiative in collaboration with the Ministry of Home Affairs.

BEDB is also actively setting up dialogue sessions and direct approaches with partners like business chambers and enterprises to better understand the challenges faced by MSMEs, including those operating in rural areas.

One of the recent efforts by BEDB was the Roundtable Dialogue session with the Belait District Business Community on 12th December 2024, where the dialogue session identified 6 critical challenges affecting MSME business development in the district. This effort continues with the conduct of an Opportunity Framing Workshop on 25th June 2025 with stakeholders in Belait District. The workshop identified 28 social and economic potentials expected to help generate economic activities.

Other initiatives carried out include the MSME Roundtable Series event on 10th July 2025 involving food industry operators in Brunei; the implementation of sharing sessions on services offered by BEDB with Village Society members through the Society Information Program organized by the Department of Information, which has also included participation from various districts. Additionally, BEDB has carried out several engagement sessions and entrepreneurial training with grassroots business communities including stall and market traders, also held in Temburong District, Kampong Bang Taong Consultation Council, Mukim Apak-Apak in Belait District, and others.

The Ministry of Finance and Economy greatly values the integrated involvement and close cooperation provided by all stakeholders so far. This Ministry will remain committed to furthering efforts in coordinating and driving national economic development, not only in rural areas but comprehensively, with the cooperation of all stakeholders including government agencies and also the private sector.

Thank you, Yang Berhormat Yang Di-Pertua.