Five sectors identified in diversification drive

James Kon

The Ministry of Finance and Economic system (MoFE) has recognized 5 precedence sectors in advancing the nation’s financial diversification drive within the coming years, Minister on the Prime Minister’s Workplace and Minister of Finance and Economic system II Dato Seri Setia Dr Awang Haji Mohd Amin Liew bin Abdullah stated.

The 5 sectors are oil and fuel downstream sector, meals, ICT, tourism and companies, he stated.

The MoFE is focussing totally on the efforts of accelerating funding actions in these sectors by both overseas direct funding (FDI) or by way of government- linked firms (GLCs).

These actions improve trade progress which in flip will be capable to generate extra financial alternatives for locals by way of elevated job and enterprise alternatives, the minister stated throughout the muzakarah session between the MoFE and newly appointed Legislative Council (LegCo) members.

Dato Seri Setia Dr Awang Haji Mohd Amin Liew stated no nation was spared from the results of the pandemic that impacted regional and international socio-economics by disrupting the availability chain. “Presently, one problem confronted by each nation is the excessive inflation charge brought on by a number of components. Demand has elevated after the re-opening of worldwide financial system and likewise geopolitics points,” he stated. “Nonetheless, Brunei Darussalam will proceed its efforts to diversify the financial system. In the direction of this, the ministry performs a significant position in shaping the nation right into a dynamic and sustainable financial system,” he stated.

In the course of the muzakarah, the MoFE shared its position as a number one facilitator to make sure all events are aligned to the aspirations of the financial blueprint and Brunei Imaginative and prescient 2035 objectives.

Deputy Minister (Economic system) of Finance and Economic system Dato Seri Paduka Haji Khairuddin bin Haji Abdul Hamid, Deputy Minister (Fiscal) of Finance and Economic system Pengiran Datin Seri Paduka Hajah Zety Sufina binti Pengiran Dato Paduka Haji Sani, everlasting secretaries, deputy everlasting Secretaries and heads of departments attended the muzakarah.