Answer to Oral Question PL133

QUESTION

Yang Berhormat Awang Haji Salleh Bostaman bin Haji Zainal Abidin

YANG BERHORMAT AWANG HAJI SALLEH BOSTAMAN BIN HAJI ZAINAL ABIDIN asked MENTERI DI JABATAN PERDANA MENTERI DAN MENTERI KEWANGAN DAN EKONOMI II to state the extent to which the Ministry has developed and expanded the State visit approach from government-to-government MOU/cooperation towards a more inclusive model involving the private sector, so that business-to-business and people-to-people cooperation can be leveraged.

ANSWER

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

The signing of a Memorandum of Understanding or MOU by Brunei Darussalam represents the country's commitment to establishing cooperation with partner countries in mutually beneficial areas. In this regard, the outcomes or deliverables of each State Visit depend on the strategic considerations of both parties. When clear potential economic benefits are identified, this gives both parties the confidence to open avenues for the involvement of the private sector and the people.

To ensure that the MOU produces tangible action, the Ministry of Finance and Economy adopts a Whole-of-Government approach. In reality, the current economic landscape involves overlapping areas of cooperation, such as the digital economy, food security and the green economy, which are monitored by and fall under the jurisdiction of several ministries and government agencies.

This is where the Whole-of-Government approach is critical in articulating an integrated direction and ensuring strategic coordination across agencies. In this regard, the Ministry of Finance and Economy works closely with the Ministry of Foreign Affairs, Brunei Darussalam's overseas missions and foreign missions in the country. For example, through BEDB, the Ministry has prepared strategic guidance in the form of Frequently Asked Questions, which has been shared with the Ministry of Foreign Affairs and Brunei Darussalam's overseas missions to ensure that consistent and accurate responses are provided to potential investors.

To ensure that these benefits are realised by the private sector and the people, the Ministry of Finance and Economy will continue to develop the cooperation model through Trade Missions and Business-Matching Sessions, such as the ASEAN-Korea Centre Trade Facilitation Mission held in February 2026; the Government of Quebec, Canada Trade Mission held in December 2025; and the Australia Agrifood Business Mission held in November 2025. These sessions successfully connected local entrepreneurs and companies with importers from the Republic of Korea, Canada and Australia in several priority sectors.

In addition, the Ministry always welcomes close relations between the country's chambers of commerce and overseas economic partners, such as those between the National Chamber of Commerce and Industry of Brunei Darussalam (NCCIBD) and chambers of commerce in Malaysia, the Republic of the Philippines and the People's Republic of China, whether through the signing of MOUs or working visits.

Furthermore, the Ministry also continues to encourage sustained cooperation among private-sector organisations through the British-Brunei Business Forum, French Bruneian Business Association and Canada-Brunei Business Council.

In conclusion, the efforts outlined above have successfully contributed to the development of beneficial business-to-business relationships and further enhanced opportunities for commercial cooperation, in line with the objective of diversifying the country's economy.