"As Brunei steps into 2025, His Majesty Sultan Haji Hassanal Bolkiah calls on the nation to unite for inclusive development, empower its youth, and seize opportunities for a brighter future. With economic growth on the horizon, how will Brunei rise to the challenge?"
By Malai Hassan Othman
Bandar Seri Begawan, 31st December 2024 – With the new year fast approaching, His Majesty Sultan Haji Hassanal Bolkiah Mu’izzaddin Waddaulah has presented an optimistic yet ambitious vision for Brunei Darussalam's economic landscape in 2025.
In his New Year’s Address, His Majesty emphasised the nation’s economic resilience in the face of global uncertainties and highlighted the critical need to boost national competitiveness through inclusive and sustainable development.
Referencing forecasts from renowned institutions such as the International Monetary Fund (IMF), the Asian Development Bank (ADB), and the ASEAN+3 Macroeconomic Research Office (AMRO), he shared encouraging growth projections for Brunei’s economy.
The nation’s GDP is anticipated to grow between 2.5% and 2.9%, fueled by robust downstream production. His Majesty indicated that this performance underscores Brunei’s economic resilience, even amid external volatility.
However, His Majesty also addressed the challenges that lie ahead.
He reiterated the necessity of diversifying the economy beyond oil and gas, the cornerstone of Brunei’s economic prosperity.
His Majesty urged focused efforts to attract high-quality Foreign Direct Investment (FDI) that will have a meaningful impact on the national economy.
“Local businesses, especially Micro, Small, and Medium Enterprises (MSMEs), must be empowered to seize the opportunities created by FDIs. They should also aim to penetrate regional and international markets,” he emphasised.
A Call for Collective Action
In an inspiring message to the nation, His Majesty underscored the importance of inclusive development.
He called for closer collaboration among the private sector, non-governmental organisations (NGOs), and the wider community.
“The primary agenda is to continuously enhance the nation’s competitiveness by focusing on inclusive and sustainable development,” he stated, emphasising that this collective effort is crucial to ensuring that no one is left behind in the nation’s progress.
This aligns with His Majesty’s broader vision of a balanced and inclusive society where the elderly and underprivileged are not overlooked.
His Majesty reiterated the nation's commitment to safeguarding their welfare, asserting that inclusive development is not merely an economic priority but a moral imperative.
The Backbone of the Nation: Its Youth
Amid his reflections on the economy, His Majesty spotlighted the nation’s greatest asset—its people, particularly the youth.
“They are the hope for the future and must continue to acquire knowledge and skills,” he said.
This urgent call to action for the youth comes at a pivotal moment when the global economy demands innovation, adaptability, and a well-equipped workforce.
His Majesty’s message was clear: Brunei’s future rests in the hands of the younger generation. They must seize opportunities to learn, grow, and lead the nation toward a brighter future.
Opportunities in Regional and Global Engagement
A New Year, A Renewed Commitment
As the nation enters 2025, His Majesty’s address serves as both a reflection on Brunei’s achievements and a roadmap for its aspirations.
His message is not just a celebration of economic resilience but also a clarion call for every Bruneian to contribute to the nation’s inclusive and sustainable development.
In closing, His Majesty expressed gratitude to all sectors of society—civil servants, uniformed personnel, private sector workers, and NGOs—for their dedication throughout 2024.
He also extended appreciation to Brunei’s international partners for their continued cooperation in strengthening ties with the nation.
With this inspiring vision for 2025, His Majesty offers a poignant reminder: Brunei’s progress is a shared responsibility, and its success hinges on unity, collaboration, and steadfast commitment to the values that define the nation.
As Brunei steps into the new year, the imperative is clear. Will the nation rise to the challenge?
Will its youth lead the charge, its businesses innovate, and its communities unite for a brighter, more inclusive future?
Only time will tell, but His Majesty’s vision stands as a beacon of hope and a roadmap for progress. (MHO/DEC/2024)
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