Legislative Council member (LegCo) Yang Berhormat Pehin Orang Kaya Indera Pahlawan Dato Seri Setia Awang Haji Suyoi bin Haji Osman expressed support for the Supply Bill for the Financial Year 2026-2027, highlighting the importance of economic diversification, human capital development and stronger investment strategies to achieve Brunel Vision 2035.
Out of the total allocation of BND6.3 billion from the Consolidated Fund, BND3.53 billion is expected to be generated from government revenue, while the remainder represents a budget deficit.
Although such deficits have been experienced for some time, it is important to explore alternative ways to increase national revenue without placing additional burden on the public in order to maintain fiscal stability.
He also highlighted the budget’s pro-growth approach, with emphasis on economic diversification through investment in infrastructure, Innovation and human resources.
Welcoming the allocation of BND576.085 million to the Ministry of Education, he also commended achievements by students and educational institutions both locally and internationally, noting that such successes reflect the collective efforts of stakeholders in strengthening the country’s education system. Touching on broader economic challenges.
Yang Berhormat Pehin Orang Kaya Indera Pahlawan Dato Seri Setia Awang Haji Suyoi noted that global conflicts affecting supply chains, climate change and slow economic growth continue to pose challenges. As such, the country must accelerate efforts to diversify the economy beyond its traditional reliance on oil and gas revenues.
Among the areas highlighted for development were downstream industries, agro-food production, aquaculture and fisheries, construction, tourism and the digital economy.
Investment in human capital, improving public sector efficiency and strengthening public infrastructure such as electricity, water supply, roads, housing and public transport were also emphasised. Yang Berhormat Pehin Orang Kaya Indera Pahlawan Dato Seri Setia Awang Haji Suyoi bin Haji Osman also welcome initiative to strengthen the role of micro, small and medium enterpise (MSMEs) and the private sector, including improved access to financing, simplified licensing and greater market access.
He also pointed to successful foreign investments in the country, including Hengyi Industries and Brunei Fertilizer Industries, as examples of the nation’s potential to attract further international investment.
Quoting the titah by 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 during the opening of the latest session of the LegCo, he stressed the need for more aggressive implementation of development strategies and stronger efforts to attract strategic investments to stimulate economic growth and strengthen government finances.
He concluded by expressing hope that sustained economic growth would bring greater employment opportunities. higher incomes and improved public services for the people and residents of the country, while reaffirming support for the Supply Bill for the Financial Year 2026-2027.
(news source: Borneo Bulletin; pic source: Info Foto, Jabatan Penerangan)
