DAY 3 MORNING

For Informational Purposes Only

29TH FEB 2024 - MORNING

info

Help needed with Jawi and Arabic characters, please email pr@queeniecy.com if you have experience with Markdown.

Disclaimer

The information presented on this webpage is based on processed PDFs downloaded from the official website and translated using OpenAI technology. We have taken steps to ensure accuracy, but if you identify any discrepancies or issues, please kindly notify us at pr@queeniecy.com so that we can make necessary adjustments. Thank you for your understanding and cooperation.

Disclaimer

Despite our best efforts to ensure the accuracy of these translations, please note that they were performed by AI technology. As such, we cannot guarantee their infallibility and are not responsible for any inaccuracies or misinterpretations that may arise from the translated content. If you have suggestions for better translations, please email the specific section along with your proposed translation to pr@queeniecy.com. We are committed to continuous improvement and greatly appreciate your input.

Yang Mulia Jurutulis

In the name of Allah, the Most Gracious, the Most Merciful. The 20th session of the Majlis Mesyuarat Negara is convened on this third day, Thursday, 19 Syaaban 1445 corresponding to 29 February 2024, commenced with a Prayer for Safety.

PRAYER FOR SAFETY

The Prayer for Safety was recited by Yang Dimuliakan Pehin Orang Kaya Setia Jaya Dato Paduka Haji Awang Suhaili bin Haji Metali Al-Hafiz (Imam from Masjid Jame’ ‘Asr Hassanal Bolkiah).

Yang Berhormat Yang Di-Pertua

In the name of Allah, the Most Compassionate, the Most Merciful.

We give thanks to Allah for His blessings allowing us to gather once again this morning for the first gathering of the third day at the Time-Honoured Meeting at Majlis Mesyuarat Negara. Blessings and peace be upon our Great Leader Prophet Muhammad S.A.W., his noble family, companions, and all his followers who are loyal and faithful until the end of time.

Your Honourable Members, at the session yesterday, Wednesday, the Majlis Mesyuarat Negara successfully approved a Motion proposed by Yang Berhormat Penasihat Khas Kebawah Duli Yang Maha Mulia Paduka Seri Baginda Sultan dan Yang Di-Pertuan Negara Brunei Darussalam and Yang Berhormat Menteri di Jabatan Perdana Menteri to fully express our deepest gratitude to Kebawah Duli Yang Maha Mulia Paduka Seri Baginda Sultan dan Yang Di-Pertuan Kebawah Duli Yang Maha Mulia Paduka Seri Baginda Sultan Haji Hassanal Bolkiah Mu’izzaddin Waddaulah ibni Al-Marhum Sultan Haji Omar 'Ali Saifuddien Sa'adul Khairi Wadgien Sultan dan Yang Di-Pertuan Negara Brunei Darussalam regarding various matters at the Official Opening of the First Session of the 20th Majlis Mesyuarat Negara on Tuesday, 17 Syaaban 1445 corresponding to 27 February 2024.

This morning, we proceed to the next matter.

Yang Mulia Jurutulis

Item VI. The Bill that will be proposed by Yang Berhormat Dato Seri Setia Dr. Awang Haji Mohd. Amin Liew bin Abdullah, Yang Berhormat Menteri di Jabatan Perdana Menteri dan Yang Berhormat Menteri Kewangan dan Ekonomi II.

Yang Berhormat Yang Di-Pertua

Your Honourable Members. The assembly now moves to Item VI, which is the Bill. A Bill will be proposed by Yang Berhormat Menteri di Jabatan Perdana Menteri dan Menteri Kewangan dan Ekonomi II. I believe the concerned Yang Berhormat Menteri would like to make an introduction or statement regarding this Bill. Please proceed, Yang Berhormat.

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

Yang Berhormat Yang Di-Pertua, with all due respect, kaola seek permission to present a Bill titled: "An Act To Provide A Certain Amount Of Money From The Consolidated Fund For The Financial Year 2024/2025 and to Allocate the Said Money For Specific Purposes" for the first reading. Thank you, Yang Berhormat Yang Di-Pertua.

Yang Berhormat Yang Di-Pertua

Your Honourable Members, Yang Berhormat Menteri di Jabatan Perdana Menteri dan Menteri Kewangan dan Ekonomi II has just signed for the Bill to be read for the first time.

Yang Mulia Jurutulis

A Bill titled: "An Act To Supply A Certain Amount Of Money From The Consolidated Fund For The Financial Year 2024/2025 and to Allocate the Said Money For Specific Purposes".

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

In the name of Allah, the Most Gracious, the Most Merciful Yang Berhormat Yang Di-Pertua, kaola request permission to inform this assembly to propose the Bill for its first and leading reading: "An Act To Supply A Certain Amount Of Money From The Consolidated Fund For The Financial Year 2024/2025 and to Allocate the Said Money For Specific Purposes" in today's session as well.

In accordance with the Rules of the State Legislative Council, kaola wishes to propose that this Bill be read for the second and third time today as well. Therefore, I seek the permission of Yang Berhormat Yang Di-Pertua to consider this as an exception to the Standing Orders of the State Legislative Council to allow such proposals to be made today. This application is solely to enable this council to conduct its duties more smoothly and orderly.

Thank you, Yang Berhormat Yang Di-Pertua.

Yang Berhormat Yang Di-Pertua

Your Honourable Members, after hearing the reasons, explanations, and causes presented by Yang Berhormat Menteri di Jabatan Perdana Menteri dan Menteri Kewangan dan Ekonomi II, I grant permission for the Standing Orders of the State Legislative Council to be suspended to allow the Bill titled: "An Act To Allocate Money For The Consolidated Fund For The Financial Year 2024/2025 and to Allocate the Said Money For Specific Purposes", to be read for the second and third times according to Article 48(3) of the Constitution of Brunei Darussalam.

Please proceed, Yang Berhormat Menteri di Jabatan Perdana Menteri dan Menteri Kewangan dan Ekonomi II.

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

In the name of Allah, the Most Gracious, the Most Merciful His Majesty Sultan Haji Hassanal Bolkiah, may Allah bless him and grant him success through Prophet Muhammad, peace be upon him, and all his companions. Esteemed Yang Berhormat Yang Di-Pertua and Your Honourable Members, Hear me, Your Honourable Members on this day as you already know. An amount of

Yang Berhormat Yang Di-Pertua and Your Honourable Members. The purpose of this Bill is: "To authorize the withdrawal of $6,250,000,000 billion from The Consolidated Fund for The Financial Year 2024/2025 and to allocate that money for the purposes specified in the Schedule".

Thus, kaola seek your permission to share several initiatives, projects, achievements, and important plans prepared by the government for the people, including the private sector in this country, towards achieving the objectives of Wawasan Brunei 2035.

Afterwards, kaola will explain the preparation of the National Budget Estimate for the Financial Year 2024/2025 based on the analysis and assessment made on the global economic outlook and the State of Brunei Darussalam, the government's spending priorities and its financial capability to finance the said expenditures.

Yang Berhormat Yang Di-Pertua and Your Honourable Members. In the name of Allah, the Most Gracious, the Most Merciful, Alhamdulillah, we express our gratitude to Allah Almighty for with His permission and mercy, as well as the blessings of the leadership, wisdom, and concern of Kebawah Duli Yang Mulla Paduka Seri Baginda Sultan Haji Hassanal Bolkiah Mu'izzaddin Waddaulah ibni Al-Marhum Sultan Haji Omar 'Ali Saifuddien Sa'adul Khairi Waddien, Sultan dan Yang Di-Pertuan Negara Brunei Darussalam, we have reached an important milestone, the 40th Anniversary of the Independence of Negara Brunei Darussalam.

As citizens and residents of this country, we must feel grateful and very fortunate because we can enjoy continued peace, prosperity, and wellbeing. In these four decades, we have seen our country adeptly navigate through advancements in infrastructure provision and development in all fields, quality and inclusive education, a comprehensive healthcare system, and good relations with regional and international countries.

It is crucially important that efforts to diversify the economy are visibly successful, always guided by the principle of Melayu Islam Beraja. The progress made thus far, though gradual, is very meaningful to us all in strengthening the spirit to serve as a jumping-off point for us to together redouble our efforts diligently.

The non-oil and gas sector now plays a significant role in contributing to economic growth and increasing employment opportunities through strategic investments in key sectors such as downstream oil and gas, green technology, tourism, business services, information and communication technology.

Additionally, with concerted efforts to enhance human capital capacity and entrepreneurial capabilities, the country is undergoing a transformation in the composition and landscape of its economy. This transition not only expands the country's progress towards reducing its dependency on the oil and gas sector but also represents the government's commitment to ensuring a dynamic and resilient future and ensuring prosperity can be enjoyed by the present and future generations.

As a continuous effort by the government to diversify the country's economy, several initiatives have been implemented, including through strategic investments in the downstream oil and gas sector or downstream oil and gas. Since the launch of Wawasan Brunei 2035 in 2007, the growth and development of the private sector can be seen to have contributed to the development of the country and increased the Gross Domestic Product (GDP) for the non-oil and gas sector, especially through the establishment of new companies Foreign Direct Investment (FDI) among others in the downstream oil and gas sector, green technology, services, ICT and tourism. The establishment of these FDI companies has also generated quality jobs for locals.

In general, the FDI companies in question function as catalysts stimulating various supporting activities and adding value in the country while producing a multiplier effect on the development of local companies, which usually can benefit from considerations and needs for procurement of marketing, banking, construction, logistics, facility maintenance, supply of machinery and equipment, and others. The investment projects have also created a platform for the building of local expertise or transfer of knowledge through training and education in various disciplines including technical, commercial, and management fields.

Furthermore, these companies also help national efforts towards reducing dependency on imports. Therefore, the government will always work and explore opportunities to attract more FDI to the country. However, some negotiations in the advanced phase (advanced negotiation) with several investors have been affected because they have decided to reassess their planning to make Negara Brunei Darussalam as a post-pandemic COVID-19 operation site.

Besides, the government has also and will continue to enhance cooperation with existing FDI and GLCs in the country to diversify economic activities including increasing productivity and production of new products.

Additionally, Negara Brunei Darussalam has strengthened its FDI strategy by focusing on conditions in the procedures to facilitate and accelerate project implementation and has established standard aftercare for existing investment companies to help overcome any challenges faced and explore potential growth for new business ideas or products.

Yang Berhormat Yang Di-Pertua and other Your Honourable Members, reinforcing the enhancement of industries and the construction of connectivity with foreign investors, other governments will continue to invest in providing and upgrading infrastructure and business and investment ecosystems in developing and analytics sectors such as ports, seaworthy ships, cargo handling, and fish landing complexes. In this case, a joint venture between Darussalam Asset and Guangxi Beibu Gulf International Port Group Limited, namely Muara Port Company Sdn Bhd (MPC), has initiated several initiatives to accommodate the increase in economic activities in Negara Brunei Darussalam.

Alhamdulillah, in April 2023, MPC inaugurated its first container shipping investment directly from the People's Republic of China. Such activities will not only help to upgrade the volume of trade but also open new markets, especially between the People's Republic of China and the BIMP-EAGA region.

Furthermore, to accommodate the increasing capacity needs, MPC will also implement the development and modification project of Muara Port - Muara Port Expansion and Renovation Project. For this, construction work will begin in the third quarter of 2024 and is expected to be completed by 2027.

Through this project, MPC expects an increase in the volume throughput through Muara Port from the current 220,000 TEU to 500,000 TEU after construction completion. At the same time, a major investment project, a joint venture between the Strategic Development Capital Fund with a local company and several international companies, namely Integrated Marine Maintenance and Decommissioning Yard introduced by Anson International Sdn Bhd located at Pulau Muara Besar. This joint venture was established to provide maintenance and decommissioning services for ships in the country's waters including decommissioning platforms and crude oil rigs, fabrication, and others.

For the Decommissioning and Restoration Project, Brunei Shell Petroleum (BSP) will collaborate with Anson International Sdn Bhd for the phased decommissioning of oil and gas production assets over the next 30 years. The activities are expected to produce about 131,000 metric tons of recyclable and reusable steel for various industries such as shipbuilding and engineering services.

Currently, the project has entered the implementation phase and is targeted to commence operations by mid-2025. In addition, indeed, to diversify the economy, several port companies in the downstream oil and gas sector have further expanded their businesses. Among them, in January 2023, Polygel Company began producing "Metilox" using co-resin with a bonding capacity of 2,500 metric tons per year. Metilox is one of the raw materials required to produce antioxidants for motor oils, hydraulic fluids, and lubricants.

In November 2023, Brunei Methanol Company (BMC) launched a facility access for buyers, allowing the chemical to be supplied and sold directly to consumers or local industries. This move has reduced the logistics costs faced by methanol users like Polygel Company.

The Brunei Fertilizer Industries or BFI Sdn. Bhd. plant was officially launched by Kebawah Duli Yang Mulia Paduka Seri Baginda Sultan and Yang Di-Pertuan Negara Brunei Darussalam on February 25, 2023. The production output from the company for January to December 2023 reached more than 957 thousand metric tons of urea fertilizer worth USD356 million, 99% of which has been exported to countries in the Southeast Asian region, the United States, Oceania, and others.

HLDS Steel Sdn. Bhd. based in Salambigar Industrial Park is a manufacturer of various types of pipes and uses including carbon welded steel pipes and poke tube for local industry and foreign markets.

Starting from the second quarter of this year, the company will expand technology and product processing capabilities through methods such as heat treatment, upset forging, trading, etc., previously activities only handled by HLDS strategic partners in the United States.

To further develop the downstream sector, there are 3 investment projects currently in planning.

1. The Investment Project to fulfill 2 processing plants for the production of Acid, Acidic, and Amine or A4 will be located at the Sungai Liang SPARK Industrial Site in 2024 and is expected to commence operations in 2027.;

2. The project spearheaded by TOTAL Energy will open a solar energy plant in SPARK produced to supply energy to TOTAL Energy processing plants and SPARK residents, which will begin construction in 2024 and is targeted to operate in 2026.;

3. Following the signing of the implementation agreement for the Pulau Muara Besar Phase Two Development Project between the government and Hengyi Industry Sdn. Bhd., further assessments and market studies are still being carried out to ensure the feasibility of this project with the development of new facilities, and this company will increase phytochemical capacity to produce more products and provide more employment opportunities to local youth.

In efforts to diversify the food industry and strengthen food security, and reduce dependency on imports, several existing investment companies have and will expand and increase their production capacities, including:

1. The Research and Study Collaboration Project between the Department of Agriculture and AgriFood with the Hunan Hybrid Rice Research Centre, People's Republic of China, was launched to study the suitability of rice varieties for unirrigated land. This project aims to further strengthen the rice breeding program and rice seed industry in this country;

2. Negara Brunei Darussalam through Golden Chick Livestock Sdn. Bhd has successfully exported around 5.1 million chicken eggs to the Republic of Singapore in 2023. In this matter, the Ministry of Primary Resources and Tourism will continue to work with external authorities and entrepreneurs to provide clarification, planning, and adequate preparations for exporting fresh chicken and agriculture and fisheries-based meat products to the Republic of Singapore and other countries.

Liang Farm along with its subsidiaries Blue Ocean Sdn. Bhd and Jef's Sdn. Bhd are actively working to further increase the production of blue rostrata shrimp. Among the work done is the construction of breeding ponds in several areas such as Kampung Serasa, Meragang, Mentiri, and Sungai Paku. The company is also in the negotiation process to provide an investment of $5.1 million to increase the number of available sites to enhance production and hatching operations.

Gropoint Sdn. Bhd. from Malaysia has also proposed to open a Frozen Seafood Processing Center at the international standard Serasa Fisheries Center. The project will involve an investment of $26.1 million and will have a freezing food capacity of 3500 – 5000 metric tons per year. Construction of the center is expected to begin in the third quarter of 2024 and will take approximately 2 years.

Muara International Fish Landing Sdn. Bhd., a subsidiary of MPC, has successfully completed dredging and redevelopment works at the Muara Fish Landing Complex, including the development of cold storage facilities that have commenced operations in December 2023. This facility will contribute to the needs and convenience of cold chain logistics networks in the country.

Yang Berhormat Yang Di-Pertua and Your Honourable Members. Now, kaola would like to foreground the results from initiatives that have been implemented under the budget's main focus in the past years, referring to the development of human capital.

This focus has successfully opened many job opportunities for the citizens and residents, especially the youth in this country and provided training to enhance capacity and skills towards improving the nation's productivity. Various holistic and integrated approaches and actions have been and are being implemented together with related agencies, including increasing the marketability of youth through education and skills training.

Support for entrepreneurship, small and medium enterprises offers more new job opportunities in the private sector through strategic investments in identified sectors such as agri-food and agro-fishing, as highlighted earlier.

In the field of education, the country has achieved the results of the Program for International Student Assessment (PISA) 2022, where Brunei Darussalam is one of the top three countries from ASEAN participants. In all domains of PISA 2022, there was an increase of 2 plus score in Mathematics, 21 score in reading, and 15 score in Science compared to PISA 2018. This achievement is the result of the tireless efforts of educators in this country in helping students reach their full potential.

To shape the future workforce of this country, Kebawah Duli Yang Maha Mulia Paduka Seri Baginda Sultan dan Yang Di-Pertuan Negara Brunei Darussalam has announced the consent on the contents of the Manpower Blueprint led by the Ministry of Education and the Manpower Planning and Employment Council (MPEC). The Manpower Blueprint serves as guidelines and direction for executing agencies and stakeholders towards achieving the goals of Wawasan Brunei 2035, especially the first goal of producing educated, highly skilled, and successful citizens.

The implementation of the Manpower Blueprint will be conducted in 2024 to ministries, departments, the private sector, higher education institutions, and concerned parties. To effectively address the mismatch between the supply and demand of labor, the Manpower Industry Steering Committee (MISC) will continue to provide programs and initiatives to ensure that the workforce supply aligns and matches with the available job opportunities.

Meanwhile, MISC is also implementing initiatives and strategies that will address the lingering issue of unemployment for the long term, including job placements for disenfranchised or foreign workers and provision of courses through upskilling and reskilling. So far, MISC has conducted career programs under sectors such as hospitality and tourism, construction, ICT, energy, transportation, and logistics. Several programs will be implemented in this year 2024.

Among these are courses for an electric technician in solar photovoltaic on a pilot basis that will be launched in July 2024 under the energy sector. Under the hospitality and tourism sector, MISC will provide a competency framework for 4 types of positions:

1. Bellboy;
2. Telephone Operator;
3. Demi Chef; and
4. Chef De Partie.

In addition, a training program will be held specifically for qualified tourist guides to undergo registered tourist education. Under the info-communication and technology sector, the TechnisPrene Program will be launched, where around 50 locals are expected to receive training for IT Technician and Network Technician positions.

MPEC has also introduced several programs and initiatives as follows:

1. Structure Apprenticeship Program (SAP) to acquire skills, knowledge, and distribution for specific career fields.
2. The first program is a clinical supervisory program for new graduates in Allied Health Professionals field, in collaboration with the Ministry of Health. The first cohort for this program will run for 18 months starting from the first quarter of 2024 as an on-the-job training for 30 participants.
3. The Program Study in Professional Institution (SPIN) in the field of accountancy, where the 3.4 cohort session has begun in January 2024. Currently, MPEC is exploring opportunities to expand professional courses in various fields according to industry needs under this program.
4. The SkillPlus Program to provide opportunities and financial assistance to local jobseekers to retrain and upgrade skills in 13 areas within the program has been updated in line with the provisions of the historical industry to ensure it aligns with the Economic Blueprint and Manpower Blueprint. To meet the increasing demand, especially in the field of technical and vocational education and strengthening the capacity and skills of the workforce, the Technical and Vocational Education and Training scheme or TVET has been strengthened specifically for 'O' Level graduates with 3 'O' levels and below, to pursue studies at private higher-level institutions. So far, 2 intakes have been conducted with a total of 141 individuals participating in this program. As a measure to improve the welfare of workers in this country, the 2023 minimum wage order was introduced and executed on 12 January 2023 to set a minimum wage rate of BND$500.00 per month that must be paid by employers to each worker. In this regard, employers were given a transition period of 6 months from the date of enforcement. The policy for the minimum wage will be applied to all industries in phases starting with the first phase, which are the Banking and Finance Industry and the Info-Communication and Technology Industry.

The government also recognizes the issue of the shortage of nurses and aims to increase more workers in the health sector. Therefore, JPMC College of Health Sciences Sdn. Bhd. was established in August 2023, a collaboration between Jerudong Park Medical Center Sdn. Bhd. and Far Eastern University from the Republic of the Philippines. For the Academic Year 2023/2024, a total of 137 students are undergoing basic courses in science (Foundation in Science certificate) and about 70 students are pursuing a Bachelor of Science in Nursing.

In addition to the desired initiatives mentioned earlier, the National Retirement Scheme (SPK) implemented in July 2023 encourages workers to serve and remain productive to enable them to receive better retirement income and every hardship and derivative benefits can also be felt by the dependents of members. This scheme is inclusive, not only providing benefits to workers in the private and government sectors but also including the productive community in the non-formal sector or self-employed. Following the implementation of this scheme, about 93% of members or a total of 178,775 members have enjoyed this new SPK scheme which is expected to win the 2024 Best of The Best Award presented by Asia Asset Management in the category of Most Improved Pension Fund in the ASEAN series.

Yang Berhormat Yang Di-Pertua and Your Honourable Members. As we continue our journey towards Wawasan Brunei 2035, in the coming years we will face many more challenges such as rapid advancements and transformations in information technology, the increasing threat of cyber attacks, climate change and environmental pollution, social and demographic changes, geopolitical instability, evolution in education and welfare development, health challenges, and how to address disasters beyond our control. Moreover, as an open and small country, we are not exempt from these external factors, and their effects are still felt in several sectors to this date.

Despite these challenges, we should seize the opportunities and use them as a stepping stone for transformation, innovation, and progress, among others through good relationships with regional and international partners to increase access to international markets. In these challenging times, united scientific productions and taking holistic preparation steps through a close collaboration among all parties through a Whole of Nation approach with full dedication and commitment will allow us to build a country that can provide inspiration and infuse spirit into the coming generations.

Yang Berhormat Yang Di-Pertua, the global economy has rebounded post the COVID-19 pandemic and the inflation situation stabilized following a more constant decrease in rates and the establishment of a resilient economy, especially in the last 6 months of 2023. This was contributed by factors influencing demand and supply and the economy following increased spending by private and government entities. The availability of labor, the speed of supply chains, and the reduction of energy and commodity costs. Following these positive and resilient prospects expected to continue in 2024, the International Monetary Fund (IMF) through the World Economic Outlook Update report issued in January 2024 has revised the global growth projection for 2024 to 3.1% from the initial forecast of 2.9%. While the projection for 2025 remains calculated at 3.2%. However, the global growth rate projection is moderate and still below the growth protata for the period between 2000 to 2019, which is about 3.8%.

We may face challenges and instabilities caused by prolonged geopolitical relocations. Global inflation pressure, the risk of global financial instability, and the increasing adverse effects of climate change. Following this global economic growth projection, the IMF has forecasted the global trade volume to grow at a rate of 3.3% for 2024 and 3.6% for 2025. This projection is still below the protata by about 4.9 %. Growth prospects will continue to trend towards slower growth due to increased trade barriers and geopolitical or geoeconomic fragmentation.

The Energy Information Administration (EIA) through the February 2024 report has reported that the brand oil price protata increased to a rate of USD80 per barrel in January 2024, among other things caused by the uncertainties in the condition of oil supply and delivery following conflicts in the Middle East and the Red Sea. EIA further predicts that world oil prices will increase to around USD80 to USD85 per barrel before decreasing to USD78 per barrel in 2025 due to the forecast increase in global oil inventory.

Yang Berhormat Yang Di-Pertua and Your Honourable Members, kaola would like to continue sharing the eco-emotional state of the country which is leaning towards domestic economic activities, the performance of existing Foreign Direct Investment (FDI) projects and the progress of new FDI projects.

For the entire year of 2023, the rate of establishment for the country's GDP is 1.4%. This increase is mainly driven by the continued growth of the non-oil and gas sector which increased at a rate of 4.5%. The increase in this sector is due to the growth of sub-sectors such as air transport, finance, and construction.

However, the oil and gas sector recorded a decline of 2.0%. Moreover, for the year 2024, the Ministry of Finance and Economy projects the country's GDP growth rate to be between 3.3% to 4.0%. This projection takes into consideration the increase in the oil and gas sector forestry manufacturing and in the production of crude oil and natural gas. The non-oil and gas sector also shows an improvement, contributed by sub-sectors such as the manufacturing of petroleum and chemical products, pressed, fisheries, and air transport.

Meanwhile, the IMF, ASEAN+3 Macroeconomic Research Office (AMRO), and Asian Development Bank (ADB) have projected a positive economic establishment for Negara Brunei Darussalam in 2024, at rates of 3.5%, 2.4%, and 2.5%, respectively. These projections consider the enhancement of efforts to diversify the economy especially in the production of downstream oil and gas products and related activities by Hengyi Industries Sdn Bhd, Brunei Methanol Company (BMC), and Brunei Fertilizer Industries Sdn Bhd (BFI). However, despite these positive projections, the country is expected to be affected by the impact of uncertainties and several risks that might affect the economic growth momentum. The global inflation rate for the year 2023 has significantly increased by 6.9%, and consequently, it is also felt in this country since about 70% of the supply and goods of the country are imported.

Nevertheless, through the joint efforts of several government agencies, the country's inflation for the year 2023 only increased at a low rate of 0.4%, with a 2.7% increase in food prices.

Therefore, the country will continue to strive to produce various products for import substitution and to further increase the selection of goods. This includes the initiative by the newly formed International Corporation in collaboration with Western Foods & Packaging Sdn Bhd (WFP) which has launched the first local vegetable cooking oil under the brand Brune halal Foods.

In this connection, we need to further diversify the country's economy in order to achieve the goals under Wawasan 2035, especially Goal No. 3 which is a Dynamic and Resilient Economy.

Yang Berhormat Yang Di-Pertua and Your Honourable Members, kaola further request your attention to the fiscal position of the government for the Fiscal Year 2022/2023. The government has recorded a revenue collection of 6.35 billion, an increase of 33.1% compared to $4.77 billion in the Fiscal Year 2021/2022.

This increase is due to the rise in global oil prices in 2022 which, on average, exceeded USD$90 per barrel. In terms of expenditure, the government also recorded an increase of 5.3% to $6.08 billion compared to $5.78 billion in the Fiscal Year 2021/2022.

However, thankfully, the government has managed to record a budget surplus of $260.46 million after recording consecutive budget deficits since the Fiscal Year 2019/2020.

For the fiscal position of the government for the Fiscal Year 2023/2024, following the global oil prices exceeding USD$80 per barrel and the reduction in oil and gas production due to scheduled maintenance activities. The projected revenue for the Fiscal Year 2023/2024 is revised to $3.22 billion compared to the original estimate of $2.99 billion. Meanwhile, the government expenditure for the Fiscal Year 2023/2024 is projected at $5.92 billion compared to the $5.96 billion allocated in the Fiscal Year 2023/2024.

This projection takes into account additional allocations expected in the Fiscal Year 2024/2025, among others, to finance expenditures under the Civil Service and an amount of $2.1 million to finance allocations for preaching activities of the Ministry of Religious Affairs. Nevertheless, the Development Expenditure is projected at $373.82 million compared to the $500 million that was approved.

This is due to various factors such as the re-evaluation of user requirements and the scope of the project.

Therefore, based on the revenue and expenditure estimates that kaola shared earlier, the government is expected to record a budget deficit of $2.7 billion for the Fiscal Year 2023/2024.

Yang Berhormat Yang Di-Pertua and Your Honourable Members, subsequently, kaola is pleased to share that based on the projections and current direction of the global economy taking into account the country's oil production level, the government's revenue estimate for the Fiscal Year 2024/2025 is projected at $3.26 billion, $2.47 billion or 75% of which is from the oil and gas sector, and $793.52 million or 25% is from the non-oil and gas sector.

The breakdown of these revenues includes:

1. Revenue collection from taxes totaling $228.17 million. Among these, $197 million from company income taxes and stamp duties, $14.1 million from vehicle licenses under the Land Transport Department, and $12.0 million from taxes under municipal boards;

2. A total of $103.7 million from import duty and excise collections by the Royal Customs and Excise Department;

3. Revenue from fees and charges totaling $230.67 million. Among these, from Electrical Services estimated at $165.2 million, from the Ministry of Health estimated at $11 million from hospital service fees and charges, and from the Immigration and National Registration Department estimated at $10 million from immigration services;

4. Revenue from rental and commercial income from the sales of goods and services totaling $98.7 million. Among these, from the Housing Development Department estimated at $60.2 million and the Public Works Department estimated at $26.8 million; and

5. Furthermore, revenue from financial income totaling $102.2 million, including $61.73 million from investment returns and savings, and $40.49 million from surplus yields from control bodies.

On this occasion, kaola is pleased to share that with the introduction of the new Charge of Account starting from Fiscal Year 2024/2025, the Salary Category for Staff will be converted to the Emolument Category, which includes Salary Allocations, Allowances, and Contributions. Not only for officers and staff in permanent positions but also for those in daily wage positions. In addition, all allowances under the Recurrent-General Expenditure Category will be moved under the Emolument Category.

Therefore, a total of $6.25 billion is proposed to finance the expenditures of ministries and government departments, including:

1. A total of $2.29 billion to finance Emoluments including salaries, service benefits, other facilities and employer contributions;

2. A total of $2.40 billion to finance Recurrent-General Expenditure;

3. A total of $500 million allocated to finance actually 305 development projects under RKN-12. For the RKN-12 period which will start in the fiscal year 2024/2025 and end in 2029/2030, the RKN Steering Department headed by Kebawah Duli Yang Maha Mulia Paduka Seri Baginda Sultan and Yang Di-Pertuan Negara Brunei Darussalam has approved $4 billion to finance 305 projects in various sectors and economic clusters;

4. The remainder to finance expenditures controlled under Expenditure Title V Below.

Therefore, based on the revenue and expenditure estimates kaola stated earlier, the government is expected to experience a budget deficit of approximately $2.99 billion. This projected deficit is expected to increase over time based on the country's oil and gas production level, global oil prices, the exchange rate of the US dollar, revenue from the non-oil and gas sector, and actual government expenditure.

Yang Berhormat Yang Di-Pertua and Your Honourable Members, kaola will shift to the theme for the national budget for the Fiscal Year 2024/2025. The Budget Theme for the Fiscal Year 2023/2024, which is ‘Bersatu Membina Masa Depan Yang Lebih Makmur’ or 'Building A Prosperous Future Together', is to be retained and extended for a period of 2 more years starting from the Fiscal Year 2024/2025 to 2025/2026.

This is to ensure continuity, alignment, and evaluation in the medium term towards achieving the targeted policies and goals previously set, allowing government agencies to continue their efforts in advancing initiatives and projects, whether planned or in implementation.

This theme will focus on 3 new priorities (priorities) for the Financial Year 2024/2025:

1. Enhancing Public Welfare and Productivity.;

2. Driving Sustainable Economic Diversity.; and

3. Developing a Dynamic and Visionary Human Capital.

As peramba shared during the First Meeting of the 19th Session of the Majlis Mesyuarat Negara on 6 March 2023. This theme is a commitment from the government to build a dynamic and resilient economic base towards sustainable economic growth to achieve Wawasan Brunei 2035.

Therefore, priority will continue to be given to enhancing efforts in stimulating growth and improving the country's economy, moving away from extreme dependencies and creating a more conducive environment for attracting quality investments beneficial to this nation. This also includes the empowerment of government-linked companies or GLCs.

Such efforts are essential to enable quality employment opportunities for local residents, particularly in the private sector. The government will also continue to support the empowerment of quality infrastructure, easy procedural measures for economic, business, and industrial activities.

Moreover, the government will make efforts to provide quality and inclusive education towards producing locally skilled, marketable, employable and future ready individuals, in line with the needs and demands of the developed industries so as to contribute to the country’s productivity.

Yang Berhormat Yang Di-Pertua. Peramba will briefly elaborate on these priorities one by one, including their development and achievements:

1. Enhancing public welfare and productivity. This first focus is the government's commitment to preserving the welfare and well-being of the people by laying the foundation for a healthier, more educated, and productive population so that both current and future generations can contribute to the socio-economic stability of the country towards a more prosperous future. The government will also continue to invest in the development of infrastructure to improve the quality of life for citizens and residents encompassing various sectors including transportation, telecommunications, and basic facilities such as water and electricity supply, expanding service networks and providing housing.

   Therefore, several allocations have been provided under this focus:

   1. To meet the increasing demand for electricity and ensure a sufficient, reliable supply, a total plan price of $400 million is allocated to implement 36 projects under RKN-12 including the construction of the Combined Cycle Bukit Panggal Phase 2 plant, and to upgrade and strengthen the network system across the country.;

   2. To ensure citizens have comfortable housing, safe, quality, and affordable housing, the government has provided a plan price of $277 million to implement 9 projects under RKN-12 to enhance the country’s housing provision. Among them in Kampung Lugu Phase 2B, Kampung Rimba Phase 6, Kampung Salambigar, Kampung Lumut Phase 7, and Kampung Tanah Jambu.;

   3. To provide cleaner and more reliable water supply to the public, the government will allocate a plan price of $261.1 million under RKN-12 to upgrade and repair treatment plants and ponds and sewage systems across districts.

At the same time, since the integration of telecommunications network infrastructure in 2019, Unified National Network Sendirian Berhad (UNN) has implemented upgrades and improvements to infrastructure for mobile networks where 5G services have been provided with coverage in all four districts and speeds up to 1000mbps in high-density areas.

UNN has also expanded internet coverage including extending fibre broadband to rural areas where fixed broadband penetration has reached 91% compared to 50% in 2020.

With this infrastructure consolidation, it has also been possible to reduce broadband prices for phone plans by an average of 55%, thereby increasing internet usage or subscribers and reducing business operating costs in this country. For example, the price for unlimited fixed broadband which was previously at $459 for 100mbps speed is now $169 for 500mbps speed.

For postpaid plan offerings, previously a $55 plan only provided customers with 7.5GB of data, whereas now customers can get more data, 30GB for only $50. This will help in strengthening the digitalization growth of Negara Brunei Darussalam towards becoming a smart nation.

In meeting the increasing demand for ICT services, UNN is building a data centre located in the Tungku area as an addition to the existing data centre capacities. The new data centre will be able to accommodate up to 500 racks, including the existing 112 racks, and will obtain Tier 3 certification in early 2023.

UNN has also successfully obtained the International Standard Certification (ISO/IEC 27001:22) in March 2023 for the protection of confidentiality, integrity, and availability of assets and data and information systems recognized globally. The government will continue to prioritize digital transformation initiatives to improve the efficiency, performance, and productivity of public services to ensure high-quality, accessible, and responsive services that meet the needs. Towards this, the government will continue to provide allocations as follows:

1. To further enhance productivity and effectiveness in managing court cases, the government will provide a total plan price of $19.4 million under RKN-12 to implement 3 projects namely Electronic Case Management System Judiciary 2.0, Shariah Court Management System 2.0, and Technology Courts system.

2. For the provision of comprehensive databases including asset management and administration, the government will provide a total plan price of $29.4 million under RKN-12 to implement 4 projects including Utility Permit Project, MoD Integrated Platform Project, Government Asset and Infrastructure System, and Housing Application and Atlas Bill Line system; and;

3. For the provision of information systems for storing and managing data records including student and educator data, information about schools, classroom management, and sports championship management, the government will provide a total plan price of $21.2 million under RKN-12 to implement 3 projects namely National Education Management System, Education Data Management System, and School Enterprise Resource Planning System.

Priority will also continue to be given to further strengthening the national health system to enhance its capacity to respond effectively and more responsively to any health needs and changes or challenges in the current and future health paradigms. This includes ensuring all required diagnostic equipment, medical equipment, medicine stocks, and sufficient human resources. The country is also not exempt from the increasing costs of healthcare, which has been significant over the past years. It is driven by various factors including access to healthcare and its uniqueness, aging population, and increasingly complex health epidemics.

Therefore, the government always emphasizes the importance of early care and prevention, and prioritizing a healthy lifestyle can help reduce chronic diseases and subsequently reduce pressure on our healthcare system. Towards this, several allocations will be provided to support the health sector. Among them, a total plan price of $25.563 million under RKN-12 for the development of medical and health infrastructure including the construction of a new block at Hospital Raja Isteri Pengiran Anak Hajjah Saleha, the upgrade of Hospital Suri Seri Begawan Kuala Belait, construction of a new Reference and Medical Block, and construction of Bandar Seri Begawan Health Center and Department of Laboratory Services. A total plan price of $62.5 million for implementing the Bru-HIMS 2.0 project also including the System Intelligent Electronic Medical Record, Intelligence Care Plan and Clinical Pathway Recommendation, and structured data system.

A total of $25.8 million will be provided for the maintenance of the Bru-HIMS system and renewal of features and capabilities of the BruHealth system such as Diabetic Management System, Online Appointment, and Consultation.

A total of $26.87 million has been allocated to ensure the provision of quality services and to meet the public health needs. Among them, $10 million for replacing clinical and non-clinical support services, $7.2 million for the services of nursing staff and personnel from Jendurong Park Medical Centre (JPMC), and $3.9 million for patient food and beverage services in hospitals across the country.

A total of $89 million will continue to be provided overall for the purchase of medicines, medical consumables, and laboratory testing needs for hospitals, health centers, and service departments.

The allocation for payment of medical services for heart disease treatment at Jerudong Park Medical Centre, Brunei Cancer Centre, and Brunei Neuroscience Stroke and Rehabilitation Centre was transferred from the Ministry of Finance and Economy to the Ministry of Health, and is proposed to be increased by $120 million from $30 million to $150 million. The purpose of this increase is to enhance reliability and efficiency in medical treatments abroad in addition to presenting a comprehensive picture of the actual cost of comprehensive healthcare.

Furthermore, to address critical public health issues such as infectious diseases, the government will continue to provide an allocation of $37 million to support crisis management and assistance to individuals or communities affected. This also includes implementing care, treatment, and research programs for infectious diseases.

Yang Berhormat Yang Di-Pertua and Your Honourable Members, in line with the country's commitment towards achieving Net Zero Emissions by 2050 and strategies under Brunei Darussalam’s climate change policy, the government will continue to prioritize addressing climate change to transform into a low-carbon and climate-resilient economy.

The phenomenon of climate change is clear, and immediate action must be taken to preserve the country for future generations. Towards this, a mandatory reporting directive for Greenhouse Gases has been launched to establish the verification of reports and accuracy for all facilities that emit and or dispose of Greenhouse Gas emissions including in a range of activities involving Government Departments and private sector companies.

As peramba shared earlier, a project managed by Total Energies Sdn. Bhd. is developed for a solar power site at the Tapak Penurutan Sungai Liang aiming to reach a capacity of 200 megawatts from renewable energy sources by 2025.

With this project, it will enhance the country’s capability to support the export industry by prioritizing products like green chemical and green ammonia to support the ambition, several allocations have been provided including a plan price totaling $50 Million under RKN-12 to record Green Building initiatives towards suppressing environmental practices through building materials, all materials, and the use of efficient sources.

A plan price totaling $17.6 Million overall under RKN-12 to support environmental sustainability includes through Re-Greening and Forest Conservation Programs. A plan price totaling $1 million under RKN-12 to provide a national climate change adaptation plan towards increasing resilience to climate change risks and the capacity to adapt to climate changes. A plan price totaling $62.5 million overall within RKN-12 to implement 16 projects for developmental preservation in several districts including repairing and conserving river water flows and a total of $18 million is provided for environmental expenditure to enable government agencies to work together in dealing with natural disasters such as floods, landslides, etc.

Yang Berhormat Yang Di-Pertua and Your Honourable Members. The government will also continue to amplify efforts and initiatives towards increasing productivity, especially domestic production in the agriculture, fisheries, and livestock sectors to ensure the country can achieve self-sufficiency in the production of food and these basic necessities as a proactive measure to address any negative impacts of external factors such as climate change, natural disasters, geopolitical effects, including inflation and the rising cost of living.

In this regard, several allocations will be provided to stimulate construction in the agricultural and fisheries sector industries among them, a plan priced at $17.5 million under RKN-12 for the High-Technology Vegetable Output Enhancement Program to further increase the productivity of vegetable yields in the state. A plan priced at $6.83 million under RKN-12 for the Capacity Enhancement Program for the Irrigation System in the Agricultural Development Areas across the country Phase 2 to strengthen the drainage and water storage system for all agricultural sites.

A plan priced at $5.8 million overall under RKN-12 to run 7 projects to improve infrastructure facilities and facilities to support the increase in output production of the rice, livestock and aquaculture industry and to further increase national rice production, agriculture totaling $9 million will also be provided under the Rice Replanting Scheme as well as for the purchase of rice seeds, hybrids for planting to rice farmers.

Yang Berhormat Yang Di-Pertua and Your Honourable Members. Material Resilience Controls the sovereignty of people has a sustainable economic diversity. The government will continue to emphasize efforts to support economic advancement and liberalization and for the development and strengthening of a more fortunate and progressive private sector development. Towards this, full allocations of efforts to increase the country's productivity in identified economic sectors in cooperation with local traders and government-linked companies or GLCs.

This includes providing funds and training and capacity development program initiatives, a pro-business ecosystem, infrastructure facilities, and the provision of sites for the development of local businesses, especially SMEs. Towards ensuring efforts that bring an infrastructure system and productivity planning to advance growth and diversify the country's economy.

The government will provide several allocations including a plan priced at $80 million under RKN-12 for the provision of infrastructure to improve the agriculture industry across the country Phase 2 to ensure sites available for declaration to entrepreneurs and to accelerate, facilitate enterprises, achieving output targets.

A plan priced at $39 million under RKN-12 for the Construction Program of Irrigation System Infrastructure and Waste Disposal Channels to further improve drainage control and livestock and slaughter industry activities. A plan priced at $18.1 million under RKN-12 for livestock industry development plans is provided to generate production including electricity supply in the Agricultural Development Area Meragang Phase 1, Daerah Belait.

A plan priced at $18.5 million overall under RKN-12 to run 5 projects to advance and open sites for the aquaculture industry including providing basic infrastructure and a plan priced at $10 million for the work of providing, upgrading infrastructure and basic facilities for existing and new agricultural development areas.

The government also gives priority to efforts to develop sectors such as tourism and international trade promotion that will boost local businesses, create job opportunities, and directly enhance the overall economic wellbeing of the community and population to support the aspiration to diversify the economy and further strengthen the non-oil and gas sector.

Towards this, several allocations have also been provided to anchor that aspiration including in efforts to promote Brunei Darussalam as a chosen tourism destination the government will strengthen a plan priced at $36.4 million overall to implement 10 projects under RKN 12 to improve tourism products including strengthening basic infrastructure and public facilities at tourist attraction places.

To ensure modern and efficient airport infrastructure, the government will provide a plan priced at $60 million under RKN-12 to implement 2 projects, namely repairing the Old Established International Brunei Airport and developing and infrastructure aerodome and facilities at Brunei International Airport.

As an addition to initiatives under the digital transformation plan which kaola saw the initial consultation earlier, the government also provides an allocation for the development of network infrastructure and innovative solutions to enable the population to communicate, access online services, and participate in digital economic activities either at a global or regional level.

This includes providing capacity enhancement programs to encourage digitally literate society and strengthen knowledge in the field of information technology to adapt to the changing digital landscape. Several efforts have already been implemented by various agencies including statutory assistance and GLCs to support this aspiration including upskilling training programs introduced by the Information Technology Authority (AITI) specifically for finding new jobs and also for local workforce towards ensuring they acquire industry-ready competency based on demand and industry needs.

The productivity and efficiency financing scheme offered by AITI frequently to businesses encourages the adoption of digital solutions to enhance digital business, productivity, and reduce operational costs. Additionally, the Cyber Security Order 2023 has been amended to strengthen the fundamental role of Cyber Security Brunei as the National Cyber Security Agency.

This amendment also highlights the country's commitment to protecting the critical information infrastructure of Negara Brunei Darussalam for essential services demand from data in government or non-government sectors related to national security, economy, public health, safety, and public order.

Furthermore, as a fundamental part of the digital economy, a flagship project under the Digital Economy Masterplan 2025 has been introduced, namely the national digital payment network. Therefore, a consortium consisting of Baiduri Bank Berhad, Bank Islam Brunei Darussalam Berhad, Darussalam Assets Company, and Perbadanan Tabung Amanah Islam Brunei has been established to ensure a digital payment hub system that facilitates instant and secure payments from accounts at any financial institutions or non-bank financial institution in Negara Brunei Darussalam at reasonable rates.

This project is expected to realize benefits such as stimulating financial sector innovation FinTech, reducing digital transaction costs, more efficient business planning, and reducing financial fraud.

Sistem Kebajikan Negara (SKN), launched on July 15, 2020, is the result of a joint effort with several ministries involved and the participation of a GLC in the software development.

Moreover, SKN has received the Asia Technology Excellence Award 2023 for governmental enterprise software in Negara Brunei Darussalam. This award recognizes exceptional technology projects and innovations from technology companies that deliver groundbreaking IT product solutions to innovative technologies that impact businesses.

To create a more efficient, accessible, and responsive public service for the citizens and residents, several provisions have been made under RKN-12 with a plan amounting to $346.47 million to drive digital transformation in government including:

1. Providing a dynamic and flexible networking framework or software-defined network to make government services more agile and scalable according to public needs and demands;

2. Development of GOV BN 2.0 is a platform to unify government services through one-stop service portal which not only simplifies citizens' access to government services but also optimizes maintenance expenditures in the long run compared to individual systems managed by each ministry;

3. Once MOHA System among others to digitize application documents including the development of a new system for the national emergency response system to facilitate the delivery of services to the public;

4. Development of a record management system to support government efforts in realizing government digitalization through the provision of a standard platform for document, record, and presentation management electronically including archive management;

5. Development of an integrated statistical data system that will integrate economic, social, and national statistical data to facilitate the use of analytical processes and the delivery of key data needed to prepare policies in this statistical data arrangement. It is expected to reduce the duplication of processes in data preparation;

6. Development of a national service platform as an e-Government solution for business-related processes in the country is aimed to simplify the workflow and ensure the continuity of processes involving inter-agency interaction. To ensure the collection and use of more centralized information and enhance the financial management system and delivery of government services to the people, the Government has provided an allocation of $10.8 million under the Recurring Expenditure of the Ministry of Finance and Economy for the implementation of the transition from Treasury Accounting Financial Information System (TAFIS 1.0) to (TAFIS 2.0) which will start from April 1, 2024.

Additionally, a total of $144.7 million has also been allocated under the Recurring Expenditure for ministries to finance IT Central Procurement projects and licenses or software for all government ministries and departments. To support digital transformation in the sorting and logistics sector, several provisions have been provided under RKN-12 with a plan amounting to $15.7 million including:

1. For Smart Transport System to provide real-time information, cashless supply in an open and on-demand transport demand to complete the public transportation ecosystem in this country. This project is also hoped to address the public transportation issues faced by the public, especially those from low-income groups;

2. Digitization of processes and further improvement of easy and fast online services including the introduction of digital licenses, automated verifications, and capability for vehicle life cycle and history tracking.

In an effort to support positive changes in the education landscape towards enhancing a more interactive, conducive, and accessible educational environment especially for schools in rural areas and improving efficiency in administrative processes, several provisions have been provided under RKN-12 with a plan amounting to $24.1 million. Among them:

1. To implement two specific projects to upgrade the network infrastructure of government schools towards ensuring high-speed and reliable connectivity for digital devices and digital learning resources;

2. For the implementation of UNISSA Smart University and UNISSA Smart Library System to provide an information system that further enhances online learning experiences and operational efficiency, and to improve the smart library management system. The government will also continue efforts to foster stronger relationships with international partners to increase access to new market opportunities and the latest technologies to help local industry sectors. Local companies are urged to seize opportunities from such economic collaborations by participating in regional and global value chains, thereby enhancing their competitiveness in the global market.

As such, the government ratified the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) to New Zealand as the depositary country for CPTPP on May 13, 2023. The Ministry of Finance and Economy, as the agency leading the negotiations, will educate the local entrepreneurs about the benefits they can achieve from this alignment, which will open market access to 600 million people and a total Gross Domestic Product (GDP) of approximately USD$13.5 trillion.

In an effort to further utilize these agreements, the Ministry of Finance and Economy will actively hold informative sessions and meetings with stakeholders including the private sector aimed at enhancing the knowledge and understanding of existing trade agreements.

The government has also signed a Memorandum of Understanding (MoU) with the Guangxi Zhuang Autonomous Region Government of the People's Republic of China regarding the bilateral economic corridor, Brunei-Guangxi Economic Corridor, on February 2, 2023. The MoU establishes mutual commitments from both the Government of Negara Brunei Darussalam and the Guangxi Zhuang Autonomous Region Government to enhance cooperation and economic development of the Brunei-Guangxi Economic Corridor for ongoing economic and trade cooperation.

Towards facilitating the export of more aquatic products from Negara Brunei Darussalam to the People's Republic of China, the Government of His Majesty The Sultan and Yang Di-Pertuan of Negara Brunei Darussalam and the People's Republic of China have signed two protocols, namely:

1. The quarantine inspection protocol and veterinary sanitary requirements for wild aquaculture products to be exported from Negara Brunei Darussalam to the People's Republic of China, and the protocol on quarantine inspection veterinary sanitary requirements for aquaculture products to be exported from Negara Brunei Darussalam to the People's Republic of China;

2. As an effort to enhance the capacity and credibility of local SMEs to operate sustainably and competitively and to promote local product manufacturing activities to meet foreign markets, the Government through Darussalam Enterprise (DARe) consistently collaborates with competent agencies such as Ghanim International Cooperation Sdn. Bhd. to ensure industry targets align with government objectives, especially in developing major industry sectors in halal production, trade, and energy. This includes identifying potential collaborations with distributors or importers from potential countries to discuss opportunities for exporting local products.

With cooperation between DARe (Darussalam Enterprise) and the Ministry of Primary Resources and Tourism, DARe (Darussalam Enterprise) has initiated the first export of local food products such as crackers, vegetable oil, chili sauce, flavored beverages, pulled tea powder, and biscuits to Mustafa Centre, Republic of Singapore in September 2023.

The selected products are from 5 local companies namely Ghanim International Corporation Sdn Bhd, Marimin Sdn Bhd - Sabil Food Industries (B) Sdn Bhd, Sahamada Corporation Sdn. Bhd and Tzaureen Bake Shop & Cafe. Additionally, as a result of this collaboration, the signing of memorandum of understanding and agreements to perform 3 local companies with companies from Sabah during the Sabah International Expo in September 2023 has also been witnessed.

As a result of these agreements, products from Companies PDAs abotor Sdn Bhd, Royal Brunei Culinary, and BIC Food Industries Sdn Bhd have begun to be marketed with displays in the Supermarket Jati Mart, Enhanced Seven Everrise Supermarket network in Kota Kinabalu and in 21 other locations will be expanded to other regions in Sabah in the near future.

Yang Berhormat Yang Di-Pertua and Your Honourable Members. The focus of the third agenda is the development of a Dynamic and Visionary Human Character. The government will continue to invest in various educational and skill development programs by enhancing the quality of education at all levels from early childhood to higher education institutions, as well as encouraging participation in lifelong learning. This aim is to produce a generation and workforce that is adaptable, educated, and highly skilled, required to achieve excellence in the job market now and in the future.

To support a high-quality education system, several initiatives have been implemented as follows:

1. Amendments have been made to the Compulsory Education Act Chapter 211 related to the compulsory schooling age in this country from 6 months to 5 years. This amendment aims to further preserve early childhood education, which is a major aspect in building the cognitive capacity, social, and emotional aspects of children;

2. Subjects of technology, engineering, and arts will be made as one of the core elective subjects in the science, technology, engineering, arts, and mathematics (STEM) study components. This is intended to equip students with skills and knowledge according to current changes and developments.; and

3. The implementation of integrating religious subjects into the general education system starting on 1 November 2023, the purpose of this integration is to keep students engaged using student's work materials and reduce time in school which will further enhance the continuity of life and mental health of students. In addition, this change is also expected to increase the efficiency of learning where reduced school hours will provide an opportunity for teachers and students to focus on higher-quality learning. The government will also continue to work with the country's industrial sectors to supply the workforce with vocational trainings to ensure the workforce is equipped with skills needed or align with job market requirements. Focus on education is expected to create a knowledge-based economy that can attract more foreign investment.

Towards this, to date, Hengyi Industries Sdn. Bhd. has offered scholarship programs in the field of engineering to 891 students. This scholarship program is a collaboration with Zhejiang Heyi Petrochemicals Co. Ltd and Lanzhou Petrochemical Polytechnic in the People's Republic of China.

Thus, the youth in this country are called upon to seize this opportunity to improve skills through various platforms provided by both the government and private sectors as well as various relevant agencies.

Towards strengthening access to education, a total of $472.3 million overall under RKN-12 will continue to be provided to implement 32 projects to develop infrastructure for primary, secondary and religious schools as well as higher education institutions including Sultan Sharif Ali Islamic University (UNISSA) campus in the Temburong district and a permanent campus for Politeknik Brunei in Madaras.

To enhance the status and achievement of education in the country, the government will continue to allocate $37.3 million in the form of scholarships through the Ministry of Education and the Ministry of Religious Affairs. This initiative aims to increase the marketability and capacity building as well as skills training of students by providing opportunities to pursue higher education at leading institutions around the world.

Additionally, a total of $1.5 million will continue to be allocated each year to handle the Miskinah Scheme to lighten the burden of less capable parents and guardians in providing school necessities for students.

Towards efforts in providing a progressive local workforce to match the needs of current and future job fields and industries, a provision of $24 million will be made available under MPEG, Prime Minister’s Department, to manage programs like i-Ready, SimTN TVEIR, SkillsUps, SPIN in Accountancy, and trade skills. In efforts to promote and encourage research and innovation in the fields of science, technology, engineering, social sciences as well as arts and culture, several allocations will be provided with a budget plan totaling BND$61.8 million including:

1. To build Creative, Cultural Industries Hub (CCI Hub) and Community Library. This is one of the new economic innovations to empower creative workers using the country's cultural and arts infrastructure. Through strengthening this industry, it will also support the government's efforts in providing a generation inclined towards and in enhancing the country's strength on the Economic Development and Cooperation (OECD) and World Culture Reading Score;

2. Council for Research and Advancement in Technology and Science (CREATES) Research Fund, to help encourage the growth of science, technology, and innovation activities and drive economic and social development. In addition, as much as BND32.3 million will continue to be provided under the recurring expenditure of the Ministry of Education to finance research costs to be carried out by public higher education institutions.

In addition to the provisions shared a moment ago, the government is also providing an allocation totaling BND527.5 million under specific focus projects to finance programs or projects that support the focus of the National Budget for Fiscal Year 2024/2025.

Thus I shared about the developments and achievements of the country as well as the priorities and budget focus that have been provided to support the budget theme for Fiscal Year 2024/2025 which is "Building a Prosperous Future Together".

Yang Berhormat Yang Di-Pertua and Your Honourable Members. The presented budget is hoped to further stimulate economic growth and enhance the skills of the workforce in this country. In addition, we all need to act more wisely and responsibly so that each expenditure and investment brings inclusive benefits to all segments of society and supports socio-economic growth.

As decreed by Kebawah Duli Yang Maha Mulia Paduka Seri Baginda Sultan and Yang Di-Pertuan of Negara Brunei Darussalam during the Official Opening Ceremony of the First Meeting of the 20th Legislative Session on Tuesday, 27 February 2024, His Majesty has reminded every government agency to use the allocated provision more prudently to enhance the quality of services for the population and citizens of this country. His Majesty also mentioned that we can no longer heavily rely on the oil and gas sector alone and efforts to diversify the economy are still not sufficient to guarantee the balance of the government's fiscal position.

Towards this, it will require more than just planning but requires a holistic and integrated execution strategy, actual practice, and commitment towards continuous development. It also requires strong leadership, sincerity, and accountability at all levels of government.

(missing Jawi words) efforts in advancing the economy have shown promising developments. However, it does not mean our work is done. We are not done yet and we need to work together and harder. It will require greater effort and for us to be more united in improving the living standards of the citizens and residents of this country.

In this matter, I would like to share that to date, the economic indicators of the country have shown positive signs where the Gross Domestic Product (GDP) for the non-oil and gas sector has posted positive results since 2017, where on average for the past 6 years from 2017 to 2023, the establishment of this sector has grown by 4.3%. This is contributed by downstream oil and gas activities, trade, and finance.

Economic development can also be seen through the contribution of non-oil and gas to the country's trade. Compared to 2017, non-oil and gas exports only contributed about 3% and in 2023, it has increased to 61%. This is driven by downstream oil and gas export activities and high-quality goods production where in 2021, for the first time the export value from the non-oil and gas sector exceeded the export value of the oil and gas sector.

This activity has also contributed to market diversification and an increase in export volume to countries such as South America, Europe, and Australia. Besides that, the country's food manufacturing exports have also successfully penetrated international markets such as the People's Republic of China, Singapore, and Malaysia.

During the same period, due to government initiatives aimed at boosting human capital through the provision of lifelong education and skills retraining, the national unemployment rate also displayed a decline from a rate of 9.0% in 2017 to 5.2% in 2022. Meanwhile, the contribution of workers in the private sector has seen a significant increase from 53% in 2014 to 69% in 2022. Therefore, in facing the challenges ahead and to realize Wawasan Brunei 2035, let us all in both the public and private sectors collaborate comprehensively in building productivity excellence to develop our country and create a more prosperous future that can be enjoyed continuously by the coming generations.

Yang Berhormat Yang Di-Pertua and Your Honourable Members. Before kaola conclude this presentation, let us all pray together that our country will always be progressive, peaceful, and prosperous under the leadership of Kebawah Duli yang Maha Mulia Paduka Seri Baginda Sultan dan Yang Di-Pertuan Negara Brunei Darussalam with the permission of الله سبحانه وتعالى also will always be a blessed nation of zikir under protection

Yang Berhormat Yang Di-Pertua

Your Honourable Members. (missing jawi words) highest gratitude to Yang Berhormat Menteri di Jabatan Perdana Menteri dan Menteri Kewangan dan Ekonomi II for such a lengthy and comprehensive statement in presenting the Bill 2024, Supply Bill 2024/2025 and all the planning and directions of financial allocations for the Fiscal Year 2024/2025.

Your Honourable Members. Before this work is opened for discussion, I would like to ask one of the members who can support the Bill presented by Yang Berhormat Menteri di Jabatan Perdana Menteri dan Menteri Kewangan dan Ekonomi II.

Yang Berhormat Menteri di Jabatan Perdana Menteri dan Menteri Pertahanan II

بسم الله الرحمن الرحيم Yang Berhormat Yang Di-Pertua and Your Honourable Members. Kaolia fully support the proposal from Yang Berhormat Menteri di Jabatan Perdana Menteri dan Menteri Kewangan dan Ekonomi II. Thank you, Yang Berhormat Yang Di-Pertua.

Yang Berhormat Yang Di-Pertua

Your Honourable Members. The Bill is an Act To Supply A Sum of Money from Its Consolidated Fund For the Service of the Fiscal Year 2024/2025 to allocate the said money for certain purposes that have been comprehensively presented by Yang Berhormat Menteri di Jabatan Perdana Menteri dan Menteri Kewangan dan Ekonomi II and has also received support from Yang Berhormat Menteri di Jabatan Perdana Menteri dan Menteri Pertahanan II.

I think, for now, that's enough for our session this morning, I adjourn our conference meeting and we will reconvene as usual in the afternoon from 2:30 PM.

That's all, والسلام عليكم ورحمه الله وبركاته

(The Council Meeting was adjourned)

YANG DI-PERTUA

Yang Berhormat Pehin Orang Kaya Seri Lela Dato Seri Setia Awang Haji Abdul Rahman bin Dato Setia Haji Mohamed Taib, P.S.B., S.J.P., P.H.B.S., P.J.K., P.K.L., Yang Di-Pertua Majlis Mesyuarat Negara, Negara Brunei Darussalam.

AHLI RASMI KERANA JAWATAN (PERDANA MENTERI DAN MENTERI-MENTERI)

Kebawah Duli Yang Maha Mulia Paduka Seri Baginda Sultan Haji Hassanal Bolkiah Mu'izzaddin Waddaulah ibni Al-Marhum Sultan Haji Omar 'Ali Saifuddien Sa'adul Khairi Waddien, Sultan dan Yang Di-Pertuan Negara Brunei Darussalam, Perdana Menteri, Menteri Pertahanan, Menteri Kewangan dan Ekonomi dan Menteri Hal Ehwal Luar Negeri, Negara Brunei Darussalam.

Duli Yang Teramat Mulia Paduka Seri Pengiran Muda Mahkota Pengiran Muda Haji Al-Muhtadee Billah ibni Kebawah Duli Yang Maha Mulia Paduka Seri Baginda Sultan Haji Hassanal Bolkiah Mu'izzaddin Waddaulah, D.K.M.B., D.P.K.T., King Abdul Aziz Ribbon, First Class (Saudi Arabia), The Order of the Renaissance (First Degree) (Jordan), Grand Cross of Crown Order- G.K.K., (Netherlands), Medal of Honour (Laos), D.S.S (Singapore), Order of Lakandula With The Rank of Grand Cross (Philippines), The Order of Prince Yaroslav the Wise, Second Class (Ukraine), Darjah Kerabat Johor Yang Amat Dihormati Pangkat Pertama (Johor), D.S.O (Military) (Singapore), P.H.B.S., Yang Berhormat Menteri Kanan di Jabatan Perdana Menteri, Negara Brunei Darussalam.

Yang Berhormat Pehin Orang Kaya Laila Setia Bakti Di-Raja Dato Laila Utama Haji Awang Isa bin Pehin Datu Perdana Menteri Dato Laila Utama Haji Awang Ibrahim, D.K., S.P.M.B., D.S.N.B., P.H.B.S., P.B.L.B., P.J.K., P.K.L., Penasihat Khas Kebawah Duli Yang Maha Mulia Paduka Seri Baginda Sultan dan Yang Di-Pertuan Negara Brunei Darussalam dan Yang Berhormat Menteri di Jabatan Perdana Menteri, Negara Brunei Darussalam. (Not present due to official duties)

Yang Berhormat Pehin Udana Khatib Dato Paduka Seri Setia Ustaz Haji Awang Badaruddin bin Pengarah Dato Paduka Haji Awang Othman, P.S.S.U.B., D.P.M.B., P.H.B.S., P.B.L.I., P.J.K., P.K.L., Yang Berhormat Menteri Hal Ehwal Ugama, Negara Brunei Darussalam.

Yang Berhormat Pehin Datu Lailaraja Mejar Jeneral (B) Dato Paduka Seri Haji Awang Halbi bin Haji Mohd. Yussof, D.P.K.T., S.M.B., P.H.B.S., Yang Berhormat Menteri di Jabatan Perdana Menteri dan Yang Berhormat Menteri Pertahanan II, Negara Brunei Darussalam.

Yang Berhormat Dato Seri Setia Dr. Awang Haji Mohammad Isham bin Haji Jaafar, P.S.N.B., D.P.M.B., Yang Berhormat Menteri Kesihatan, Negara Brunei Darussalam.

Yang Berhormat Dato Seri Setia Dr. Awang Haji Mohd. Amin Liew bin Abdullah, P.S.N.B., S.P.M.B., Yang Berhormat Menteri di Jabatan Perdana Menteri dan Yang Berhormat Menteri Kewangan dan Ekonomi II, Negara Brunei Darussalam.

Yang Berhormat Dato Seri Setia Awang Haji Erywan bin Pehin Datu Pekerma Jaya Haji Mohd. Yusof, P.S.N.B., S.P.M.B., P.J.K., P.I.K.B., Yang Berhormat Menteri Hal Ehwal Luar Negeri II, Negara Brunei Darussalam.

Yang Berhormat Dato Seri Setia Awang Haji Ahmaddin bin Haji Abdul Rahman, P.S.N.B., S.P.M.B., P.S.B., P.I.K.B., Yang Berhormat Menteri Hal Ehwal Dalam Negeri, Negara Brunei Darussalam.

Yang Berhormat Dato Seri Setia Dr. Awang Haji Abd. Manaf bin Haji Metussin, P.S.N.B., S.P.M.B., S.M.B., P.S.D.B., P.K.L., Yang Berhormat Menteri Sumber-Sumber Utama dan Pelancongan, Negara Brunei Darussalam. (Not present due to official duties)

Yang Berhormat Dato Seri Setia Awang Haji Muhammad Juanda bin Haji Abd. Rashid, P.S.N.B., D.P.M.B., P.I.K.B., Yang Berhormat Menteri Pembangunan, Negara Brunei Darussalam.

Yang Berhormat Datin Seri Setia Dr. Dayang Hajah Romaizah binti Haji Md. Salleh, P.S.N.B., S.P.M.B., P.I.K.B., P.K.L., Yang Berhormat Menteri Pendidikan, Negara Brunei Darussalam.

Yang Berhormat Pengiran Dato Seri Setia Haji Mohamat bin Pengiran Dato Paduka Haji Mustapha, P.S.N.B., P.S.B., Yang Berhormat Menteri Pengangkutan dan Infokomunikasi, Negara Brunei Darussalam.

Yang Berhormat Dato Seri Setia Awang Haji Nazmi bin Haji Mohamad, P.S.N.B., S.M.B., P.I.K.B., Yang Berhormat Menteri Kebudayaan, Belia dan Sukan, Negara Brunei Darussalam. (Not present due to official duties)

AHLI YANG DILANTIK ORANG-ORANG YANG BERGELAR

Yang Berhormat Pehin Orang Kaya Laila Setia Dato Seri Setia Awang Haji Abd. Rahman bin Haji Ibrahim, P.S.N.B., D.P.M.B., P.H.B.S., P.I.K.B., P.K.L.

Yang Berhormat Pehin Orang Kaya Johan Pahlawan Dato Seri Setia Awang Haji Adanan bin Begawan Pehin Siraja Khatib Dato Seri Setia Haji Mohd. Yusuf, P.S.N.B., D.P.M.B., P.H.B.S., P.J.K., P.I.K.B., P.K.L.

Yang Berhormat Pehin Orang Kaya Indera Pahlawan Dato Seri Setia Haji Awang Suyoi bin Haji Osman, P.S.N.B., D.P.M.B., P.J.K., P.I.K.B., P.K.L.

AHLI YANG DILANTIK ORANG-ORANG YANG TELAH MENCAPAI KECEMERLANGAN

Yang Berhormat Dayang Hajah Sáfiɑh binti Sheikh Haji Abd. Salam, S.U.B., P.I.K.B., P.K.L.

Yang Berhormat Awang Lau How Teck, P.S.B.

Yang Berhormat Dayang Chong Chin Yee, P.I.K.B.

Yang Berhormat Dr. Awang Haji Mahali bin Haji Momin, S.M.B., P.I.K.B., P.K.L.

Yang Berhormat Awang Haji Salleh Bostaman bin Haji Zainal Abidin, S.N.B., S.M.B., P.I.K.B.

Yang Berhormat Dayang Hajah Rosmawaty binti Haji Abdul Mumin, S.M.B., P.S.B.

Yang Berhormat Pengiran Haji Isa bin Pengiran Haji Aliuddin, P.I.K.B.

AHLI YANG DILANTIK MEWAKILI DAERAH-DAERAH

Yang Berhormat Awang Amran bin Haji Maidin, P.I.K.B., P.K.L., Penghulu Mukim Lumapas - Daerah Brunei dan Muara.

Yang Berhormat Awang Laiw bin Haji Lamat, P.K.L., Ketua Kampung Subok - Daerah Brunei dan Muara.

Yang Berhormat Awang Zainol bin Haji Mohamed, Ketua Kampung Putat - Daerah Brunei dan Muara.

Yang Berhormat Awang Mohamad Ali bin Tanjong, P.K.L., Ketua Kampung Lumapas 'B' – Daerah Brunei dan Muara.

Yang Berhormat Awang Haji Daud bin Jihan, P.I.K.B., P.K.L., Ketua Kampung Biling – Daerah Brunei dan Muara.

Yang Berhormat Awang Haji Md. Salleh bin Haji Othman, P.I.K.B., Penghulu Mukim Bukit Sawat – Daerah Belait.

Yang Berhormat Awang Mohammad bin Abdullah @ Lim Swee Ann, Ketua Kampung Bukit Sawat – Daerah Belait.

Yang Berhormat Awang Haji Mohamad Danial @ Tekpin bin Ya'akub, P.I.K.B., Penghulu Mukim Ukong – Daerah Tutong.

Yang Berhormat Awang Abdul Aziz bin Haji Hamdan, Ketua Kampung Sengkarai – Daerah Tutong.

Yang Berhormat Haji Awang Sulaiman bin Haji Nasir, P.S.B., P.I.K.B., P.K.L.P., Ketua Kampung Labu Estet dan Piasau-Piasau – Daerah Temburong.

PRESENT ALONGSIDE

Yang Mulia Dr. Dayang Hajah Huraini binti Pehin Orang Kaya Setia Jaya Dato Paduka Awang Haji Hurairah, P.S.B., P.I.K.B., P.K.L., Jurutulis Mesyuarat Negara, Negara Brunei Darussalam.

Yang Mulia Pengiran Hajah Zaidah binti Pengiran Haji Petra, Acting Deputy Jurutulis Mesyuarat Negara, Negara Brunei Darussalam.

(The meeting commenced at 9.30 AM)

info

The information provided on this website is for general informational purposes only. While we strive to keep the information up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the website for any purpose. Any reliance you place on such information is therefore strictly at your own risk.

In no event will we be liable for any loss or damage including without limitation, indirect or consequential loss or damage, or any loss or damage whatsoever arising from loss of data or profits arising out of, or in connection with, the use of this website.

Through this website, you may be able to link to other websites which are not under our control. We have no control over the nature, content, and availability of those sites. The inclusion of any links does not necessarily imply a recommendation or endorse the views expressed within them.

Every effort is made to keep the website up and running smoothly. However, we take no responsibility for, and will not be liable for, the website being temporarily unavailable due to technical issues beyond our control.