Friday, March 06, 2015

HM Sultan Brunei: Give Priority to Efforts to Boost Economy

His Majesty the Sultan and Yang Di-Pertuan of Brunei Darussalam arrives for the opening ceremony of the Legislative Council (LegCo) meeting. Also seen in the picture is the new Speaker of the LegCo, YB Pehin Orang Kaya Seri Lela Dato Seri Setia Awang Haji Abdul Rahman bin Dato Setia Haji Mohamed Taib

Posted date: March 06, 2015
| Hakim Hayat |

HIS Majesty the Sultan and Yang Di-Pertuan of Brunei Darussalam said yesterday that members of the Legislative Council (LegCo) should give priority to discussions on employment opportunities for the locals, entrepreneurship development and efforts to boost the country’s economic fundamentals amid the uncertainties in the global economy.

In a titah at the opening ceremony of the 11th Session of LegCo, His Majesty also urged the LegCo members to instil a positive attitude in the people to enable them to take actions that are in line with the current demands and also encourage self-sufficiency rather than dependence on assistance.

His Majesty said particular attention should be given to bolster the country’s economic fundamentals because of the signs of decline in the global economy such as the falling oil prices.

The monarch emphasised the need to enhance the public sector to ensure a more conducive business and economic environment.

Brunei Darussalam’s policy in maintaining fiscal stability is also a priority, His Majesty said, especially in ensuring ‘value for money’ and prudence in expenditure so the country can increase savings to use for future needs. His Majesty said this financial practice must also be followed by individuals and families.

On concerns over the rate of local unemployment, His Majesty said particular attention must be given to ensure that locals are seizing job opportunities.

“We must carefully review (the situation), where and until when will our locals be left out of job opportunities,” the monarch said.

His Majesty said many key positions and job opportunities in the industries that are driving the economy are still being monopolised by foreigners.

“This must not be overlooked, (but) should be monitored and evaluated,” His Majesty recommended.

The monarch said the entrepreneurship sector must not only involve certain parties “but must be (open) for all because this translates to progress”.

His Majesty urged entrepreneurs to continue expanding their business and industries in order to attain an optimal level.

His Majesty called on the members of LegCo to stay focussed on the bigger and more challenging issues of the country.

The monarch said that while paying attention to the issues raised by the people, the members of LegCo should also have a perspective that allows the people to move forward.

Courtesy of Borneo Bulletin

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