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His Majesty Sultan Haji Hassanal Bolkiah Mu’izzaddin Waddaulah ibni Al-Marhum Sultan Haji Omar ‘Ali Saifuddien Sa’adul Khairi Waddien, Sultan and Yang Di-Pertuan of Brunei Darussalam underscored the significance of financial diversification because the cornerstone of Brunei’s future resilience and development, in a titah in the course of the opening ceremony of the twentieth Legislative Council (LegCo) session on the LegCo Constructing in Jalan Dewan Majlis on Tuesday.
Emphasising the pivotal position of the LegCo, His Majesty additionally known as upon its members to be torchbearers in steering the nation in the direction of a diversified financial panorama.
His Majesty acknowledged the nation’s optimistic financial outlook, with the ASEAN+3 Macroeconomic Analysis Workplace predicting a 2.4 per cent strengthening in 2024.
Nevertheless, the monarch highlighted the crucial to maneuver past dependence on oil and gasoline sectors, citing uncontrollable components like declining manufacturing and market volatility.
Efforts to diversify have been undertaken, however His Majesty harassed the necessity for sustained and enhanced methods.
Additionally in attendance have been His Royal Highness Prince Haji Al-Muhtadee Billah, the Crown Prince and Senior Minister on the Prime Minister’s Workplace, His Royal Highness Prince Mohamed Bolkiah, His Royal Highness Prince Haji Sufri Bolkiah, and His Royal Highness Prince Haji Jefri Bolkiah.
Upon arrival, His Majesty was greeted by LegCo Speaker Yang Berhormat Pehin Orang Kaya Seri Lela Dato Seri Setia Awang Haji Abdul Rahman bin Dato Setia Haji Mohamad Taib and Clerk to the Privy Council, Secretary to the Cupboard Ministers’ Council Dr Hajah Huraini binti Pehin Orang Kaya Setia Jaya Dato Paduka Awang Haji Hurairah.
A sergeant-at-arms carrying the mace signifying the graduation of the LegCo continuing – led the monarch’s procession into the convention corridor.
Earlier than the opening ceremony, the LegCo convened to assessment and make sure the minutes from the primary assembly from the nineteenth LegCo session, which ran from March 2 to March 28, 2023.
The session will deliberate and approve the provision invoice 2024-2025, which is able to endure three phases earlier than it’s accredited and gazetted for adoption on April 1, 2023. – Lyna Mohamad
Extra particulars on Wednesday’s Borneo Bulletin
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