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Since Brunei Darussalam’s transition to the Endemic Phase on June 1, 2022, several economic sectors in the country that were adversely impacted by the COVID-19 pandemic such as the Air Transport Sector have shown a significant recovery with an increase of over 100 percent for the first nine months of 2022 compared to the same period of the previous year. This is in line with the increase in the number of air passenger arrivals and departures following the lifting of air travel restrictions. This was highlighted by Yang Mulia Dayangku Norhanidah binti Pengiran Haji Masshor, Acting Director of Planning in the Department of Planning under the Department of Economic Planning and Statistics (DEPS), Ministry of Finance and Economy, during the Malay Islamic Monarchy Lecture at the Sultan Sharif Ali Islamic University held on 22 March 2023, attended by more than 300 First Year students from various academic fields.

In addition, the lecture session also explained about the increase in domestic demand which is one of the main factors for the recovery of several sectors in the economy. Against this backdrop, it was highlighted that businesses or economic sectors play an important role to not only depend on domestic demand but also to explore new export-oriented opportunities not limited to only export of goods but also services. 

As a way forward towards achieving Goal 3 of Wawasan Brunei 2035: A Dynamic and Sustainable Economy, the lecture session also shared about the economic framework of Brunei Darussalam, outlining the Economic Blueprint, which acts as guiding principles for various agencies and individuals. Furthermore, also shared during the session were several initiatives by the Government and the private sector towards fostering sustainable economic growth in the country. Among others include development of the private sector, such as through the five (5) Priority Sectors (Downstream Oil and Gas, Food, ICT, Tourism and Services) that have been identified to spearhead the country's economic growth and diversification; development of Micro, Small and Medium Enterprises (MSMEs), such as through the Retail Entrepreneurship Program, which provides local residents with the opportunity to gain experience in the field of entrepreneurship; and human capital development such as through the i-Ready Apprenticeship Program, which provides opportunities for graduates to gain experience and skills in a real work environment as well as enhancing their marketability and employability prospects. 

The lecture session concluded with sharing of thoughts, insights and suggestions to the students to continue their study commitments and work diligently towards becoming an important asset in contributing to the economic development of the country in the future. 

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Department of Planning 

Department of Economic Planning and Statistics

Ministry of Finance and Economy