Eleventh National Development Plan (RKN11) 2018-2023.

This Eleventh National Development Plan, the third NDP aligned with Wawasan Brunei 2035, is a 5-year nationwide multisectoral document designed to ensure that the quality of life enjoyed by the current generation will also be available to future generations. This will be achieved through well-defined and realistic plans that consider future trends in education, human resource development, and the economy. The overarching theme of RKN11 is "Increased Non-Oil and Gas Sector Output as Catalyst for Economic Growth." Within this framework, the NDP outlines six development thrusts, offering guidance for various programs and projects. These thrusts are as follows (i) enhancing the quality of education and training to cultivate an educated and highly-skilled human capital, enabling the country to adapt to economic structural changes and diversification; (ii) focusing on developing a workforce aligned with industry needs to reduce unemployment, lower business costs, and attract foreign direct investments in the non-oil and gas sector; (iii) building a knowledgeable, competitive, and highly-skilled human capital rooted in the principles of Malay Islamic Monarchy; (iv) strengthening sustainable welfare by involving the private sector in delivering high-quality basic facilities and necessities; (v) increasing the contribution of the non-oil and gas sector to the GDP through support for small and medium-sized companies and foreign direct investments; (vi) enhancing government governance to create a business-friendly environment that reduces costs and attracts more foreign investments.
In the past, Brunei Darussalam recognized the need for economic diversification as a pivotal strategy to transform its economy. This shift was necessary due to heavy dependence on oil and gas resources at the time. However, to effectively boost the output of the Non-Oil and Gas Sector, it's essential for all stakeholders to collaboratively implement initiatives that support the overarching goal of economic diversification. One crucial aspect of this collaborative effort involves strengthening the private sector, and a key element in achieving this is enhancing public governance, particularly in processes related to businesses. This approach serves a dual purpose by not only attracting foreign direct investment but also expediting the growth of Micro, Small, and Medium Enterprises (MSMEs). Consequently, it promotes increased productivity, fosters a culture of research and innovation, and facilitates the introduction of new technology and the transfer of knowledge.
The successful implementation of the NDP's thrusts requires several key interventions (i) the holistic and inclusive execution of the Human Capital Development Programme, which includes knowledge and skill acquisition, entrepreneurship training, and the cultivation of positive attitudes, values, and ethics for socio-economic progress. These programs should be structured and outcome-focused; (ii) increasing the capacity of local youth to contribute significantly to socio-economic development and enhance the well-being of citizens; (iii) developing a highly skilled, competitive human capital pool with strong principles and a strong sense of identity. Regular program reviews and improvements will be essential to boost effectiveness; (iv) ensuring that the government continues to prioritize the welfare and prosperity of citizens and residents while planning expenditures wisely to create a more inclusive society; (v) focusing on Non-Oil and Gas Sector development through various initiatives, including infrastructure and technology development, entrepreneurship, knowledge, and expertise. Key drivers of growth include the Finance Subsector, Agriculture, Forestry, and Fishery Subsectors, and the Wholesale and Retail Trade Subsectors; (vi) implementing initiatives for the integrated improvement of the e-Government system, making necessary amendments to laws and regulations, and streamlining processes to reduce business costs, promote economic activities, support SMEs, increase export value, boost government revenue, create job opportunities, and facilitate knowledge transfer, skill development, and technology transfer.