BANDAR SERI BEGAWAN, March 5 (Borneo Bulletin/ANN): A Brunei Legislative Council (LegCo) member has called for a reduced dependence on foreign goods by increasing local production of high demand products, as a way to combat inflation.
During the deliberation of motion of thanks at the second day of the 19th LegCo session, Yang Berhormat Salleh Othman noted that the increase in the price of goods and services has became a significant burden on consumers, particularly those in the low-income-bracket.
“Therefore, the role of local micro, small and medium-sized enterprises (MSMEs) are very important in stimulating the national economy,” he said.
Salleh also added that the government’s efforts to improve the business environment to encourage entrepreneurship and growth are important to balance the dependence on imported products, by targetting the local production of goods that are in high demand.
To improve the business climate in the country, Salleh said the application and terms of use of temporary occupied land (TOL) needs to be reviewed and re-examined, with consideration to the people’s priorities. - Borneo Bulletin/ANN
