RKN11 (2018-2023)

RKN11 (2018-2023) is the 3rd National Development Plan (NDP) after the launching of the BV2035 (Wawasan Brunei 2035) in 2007. The theme of the current RKN11 is ‘Increased Non-Oil & Gas Sector as Catalyst for Economic Growth”.

Under Goal 3 of the BV2035 above, the aim is to have a dynamic and resilient economy, RKN11 has put forward two main thrusts namely:

• Thrust 1: increasing output and contribution of non-oil and gas sector to gross domestic product (GDP)
• Thrust 2: strengthening government’s governance for a conducive business environment.
Thrust #1: Increasing Output & Contribution of Non-Oil and Gas Sector to GDP.
• In improving the country’s Non-Oil and Gas Sector, the private sector plays a crucial role in assisting the micro, small and medium sized companies to thrive and be more competitive with other companies from abroad and correspondingly, penetrate the international market.
• The influx of foreign direct investments (FDIs) into the country would also accelerate the growth of the non-oil and gas sector and benefit the nation, such as by adopting new technologies, transferring expertise and growing productivity and skilled workers.

Main Focus:
• Under RKN11, through various initiatives involving the growth of physical infrastructure and technology, entrepreneurship, skills and expertise, the government will continue its efforts to concentrate on developing the non-oil and gas market. These initiatives are expected to increase productivity and create opportunities to generate income and employment.
• The Non-Oil & Gas Sector growth will focus on developing five (5) major clusters viz halal products & services, innovative technologies & creative industries, business services, tourism & downstream industry of oil and gas (See Info-graph 1.3)

Info-graph 1.3

Thrust #2: strengthening government’s governance for a conducive business environment.
• This Strategic Thrust supports the empowerment of the private sector, in ensuring the Government’s probusiness governance by providing environment that are accessible as well as conducive and helps to reduce business costs.
• With an easy and low-cost business environment, it will encourage the society to venture into entrepreneurship and make the country competitive in attracting more FDI.

Main Focus:
• With transactions becoming more complicated, dynamic, and borderless, in line with technological advancements and innovation, the existing market environment is more difficult. Efforts will therefore continue to intensify and enhance public sector governance to improve the conducive business climate that will provide a more effective, profitable, skilled, accessible, creative & less built environment.

• Doing Business Report has recognised BD efforts, as the top 10 ranked, with the newest initiatives & reforms to facilitate business. To improve quality of public service delivery to support a more conducive business and investment environment and create spill-over effects such as providing business opportunities for SMEs, increase the value of country’s exports, increase Government’s revenue, more employment opportunities to local and the transfer of knowledge, skills, and technology.

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