The Prime Minister's Office will update its policies and regulations, including policies pertaining to the Ease of Doing Business. Yang Berhormat Dato Seri Setia Haji Awang Abdul Mokti bin Haji Mohd Daud, Minister at the Prime Minister's Office explained the matter in response to the titah of His Majesty on the need for strengthening the administration system, including policies and regulations so that they are always updated, transparent and effective.
Yang Berhormat said that with the unstable oil price, the world economic situation will continue to impact the nation's budget allocation. This matter challenges the plan to achieve sustainable economic development and fiscal balance. For this, the public sector is called to be more effective. Apart from updating policies and regulations, another initiative is currently being implemented by all government agencies namely the Fiscal Consolidation. Aside from that, reviewing suitable measures such as corporatisation and public-private partnership. Yang Berhormat added that in the short term, we must control the nation's fiscal balance apart from ensuring that the country's economy can grow consistently. Efforts towards this should be consolidated with the government sector, the private sector and the people.
Source: Radio Television Brunei