New ministerial body to oversee development of industries proposed

National 2 minutes, 14 seconds

BANDAR SERI BEGAWAN

A LEGISLATIVE Council member proposed the establishment of a new ministerial body that will specifically cater to the development of industries and businesses in the country.

This was said by Yang Berhormat Hj Tahamit Hj Nudin who is also the Penghulu of Mukim Gadong ‘A’ during his vote of thanks at the first meeting of the 12th Legislative Council session.

YB Hj Tahamit said that with the establishment of this ministry, there will be a more focused effort in the management of businesses and industries in the country as well as in efforts to attract Foreign Direct Investors (FDIs).

This focus, he said, will allow the country’s economical environment to be more organised towards plans for increasing the nation’s revenue.

Mitigation or management of economical risks that can cripple the nation can also be achieved with the establishment of this proposed ministry.

In an interview with The Brunei Times, YB Hj Tahamit said that currently there are numerous governmental departments and ministries who are in charge of different industries and businesses.

“For example, tourism is under the Ministry of Primary Resources and Tourism but Small-Medium enterprises are under the Energy and Industry Department at the Prime Minister’s Office,” he said.

“Both are forms of businesses that have the potential to improve the nation’s economy therefore should be handled and nurtured under one ministerial body,” added YB Hj Tahamit.

He said that the scattered nature of the local entrepreneurs in Brunei showed a lack of collaboration between industries in the nation’s economical growth.

The LegCo member added that if all businesses and industries were centralised under one ministry, then the development of businesses in Brunei will improve as a whole. This he said is opposed to certain industries being more developed than others.

When asked whether the oil and gas industry should also be included under the proposed ministry, he said that it is optional.

“The priority right now is to diversify the economy, which means to expand industries that are away from oil and gas,” he said.

YB Hj Tahamit went on to say, in his vote of thanks that local entrepreneurs should involve themselves in niche markets which he added are unique markets that can bring large profits.

“For example, an industry that has not been explored fully at the local and international level is the meloponiculture (stingless bees’ honey) industry,” he said.

YB Hj Tahamit added that even though the honey is produced the same way in other countries, the honey has the potential to be made into a number of products including cosmetics, which he said has yet to be done in the country.

The Brunei Times