Answer for Oral Question PL077

QUESTION

Yang Berhormat Awang Haji Mohamad Danial @ Tekpin bin Ya'akub

YANG BERHORMAT AWANG HAJI MOHAMAD DANIAL @ TEKPIN BIN YA'AKUB requested MENTERI DI JABATAN PERDANA MENTERI DAN MENTERI KEWANGAN DAN EKONOMI II to state the plans to ensure that the socio-economic status of the people can improve in line with changes in technology, the economic structure and the current cost of living.

ANSWER

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

In general, the Government adopts a comprehensive and balanced approach, encompassing short-term measures to address cost-of-living pressures as well as long-term strategies to generate income growth, strengthen economic resilience and sustainably improve the quality of life of the people.

In this context, the Government continues to provide subsidies for essential goods and services, conduct price monitoring and enforcement, and strengthen consumer protection. Efforts are also being intensified to increase domestic production, particularly in the food sector, to reduce dependence on imports. In addition, continued investment in public services such as healthcare, education and basic infrastructure helps to reduce household expenditure and support the purchasing power of the people.

In line with technological and economic transformation, emphasis is placed on education, lifelong learning, as well as upskilling and reskilling programmes, including in digital fields and new technologies such as Artificial Intelligence (AI). Entrepreneurship development is also being strengthened to expand the participation of the people in high-value-added economic activities. Initiatives under the Brunei Economic Development Board (BEDB), for example, have trained more than 20,000 participants and contributed to the establishment of hundreds of new enterprises and employment opportunities.

At the same time, efforts to diversify the economy continue to be strengthened through the development of priority sectors such as downstream oil and gas, food, services, ICT and tourism, supported by a combination of quality foreign direct investment (FDI) and the strengthening of local enterprises, including micro, small and medium enterprises. To date, 25 FDI companies under the BEDB portfolio have commenced operations and created approximately 4,000 employment opportunities, nearly half of which have been filled by local people. In addition, 18 FDI projects valued at USD5.6 billion that had been approved as at January 2026 are expected to create approximately 3,000 employment opportunities progressively.

Through the Rancangan Kemajuan Negara, various infrastructure and social projects are also being implemented, including affordable housing, the upgrading of water supply systems, the implementation of the Smart Transport System and Public Transport System, as well as the construction and upgrading of roads and flyovers, such as the Flyover at the Muara—Tutong Highway Intersection in the Tanjong Kajar industrial area, to support economic activities and improve the mobility of the people.

Projects in the agriculture, fisheries and forestry sectors are also being implemented to increase domestic production and generate employment opportunities, alongside continued investment in healthcare facilities, religious facilities and ICT infrastructure to support human capital development and comprehensively enhance social well-being.

Overall, this approach aims to ensure that the economic growth generated is translated into quality employment opportunities, increased incomes and the socio-economic well-being of the people in an inclusive and sustainable manner over the long term.