Brunei - Govt to spend $1m on ease of doing business in Brunei

THE government has set aside $1 million to cover operations for an Ease of Doing Business unit and a Business Facilitation Centre, the second minister of finance said yesterday.

Yang Berhormat Pehin Orang Kaya Laila Setia Dato Seri Setia Hj Abdul Rahman Hj Ibrahim disclosed the figure during the Legislative Council meeting yesterday, where he underlined budget priorities for the fiscal year of 2012/2013.

"The second budget priority is to strengthen the private sector, and through the initiatives taken so far, Brunei Darussalam has been able to improve its position in the index of the Ease of Doing Business in the World Bank report, which we climbed three points to 83rd place," said the minister.

Other initiatives include the establishment of the Authority for Building Control and Construction Industry (ABCi) division under the Ministry of Development to "maximise economic spin-off" from the oil and gas industry. The ABCi was set up last year to cut the approval process time for construction and land development projects from 54 days to 24 days and eventually to 14.

Efforts to diversify the economy away from the oil and gas sector were also underlined by the minister, who said that Brunei's tourism sector will be based on "nature, culture and heritage".

Other industries targeted as part of Brunei's diversification drive include the manufacturing and processing of food products and beverages, namely the Brunei Halal Brand, as well as upgrading economic activities from Brunei's villages such as the One Village, One Product initiative.

"In support of these initiatives, some specific provisions have been prepared, including $1 million for the operations of the Ease of Doing Business Unit, and the Business Facilitation Centre," said the minister on the proposed budget.

He added that $3 million was set aside for the maintenance and improvement of "industry sites", a continuation of the $5 million from the 2011/2012 fiscal year. "During the financial year 2011/2012, a total of $5 million has been allocated for the development of suitable industrial sites to facilitate the development of local companies in the support services to oil and gas industry in this country," he said.

YB Pehin Dato Hj Abdul Rahman said $500,000 will be spent on repairing buildings and complexes in the Light Industrial Area in Anggerek Desa, in addition to several other provisions for the repair and upgrading of public facilities in various districts throughout the country.

Some of the projects that the second minister also divulged include the upgrade of the Brunei International Airport, a project worth an estimated $130 million. Expected for completion in 2014, the project "will help to increase port facility, increased capacity of communication (and) telecommunications," he said.

With the construction of a new terminal building and carpark, the airport's annual passenger capacity is expected to increase from 1.5 million to three million.

The new facilities will increase the airport's floorspace by an additional 18,000 square metres, with about three to four thousand square metres of the space for tenancy to retailers according to consultants involved in the project.

DEBBIE TOO

The Brunei Times

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