National Development Plan

 

The Eleventh National Development Plan focuses on developmental efforts on the production of the Non-Oil and Gas Sector. The implementation of the Plan is centred on a theme which carries “Increasing Non-Oil & Gas Sector Output as Catalyst for Economic Growth".

A budget amounting BND3.5 billion has been allocated for the five-year period under the 11th National Development Plan to finance 186 projects. The selection of projects was based on their contribution to economic growth and development, as well as the capacity of the implementing agency in carrying out the project.

The Eleventh National Development Plan aims to increase output of the non-oil and gas sector, which requires all parties including those responsible for the delivery of the projects to implement the initiatives. The private sector can be strengthened through improving public governance, particularly in processes relevant to business. This will subsequently help attract foreign direct investment as well as accelerate the growth of Micro, Small and Medium Enterprises (MSMEs).

Additionally, the growth of the Non-Oil and Gas Sector will lead to increased trade, Government revenue and job creation. This will require intensified focus towards improving the quality of education and the skills of the labour force.

A conducive business environment will increase the ability of the private sector to generate innovative and high value products and services, and position themselves to reach out to international markets. This will help increase exports, which will result in a surplus in the trade balance.

The RKN was established to meet the patterns of economic growth and development over the last five years while anticipating future challenges which may be encountered. The current RKN conforms to the theme of increasing the capacity of the non-oil and gas sector, which can be achieved through strengthening the efficiency in governance, producing an able and resilient workforce and improving the dynamism of the private sector including local businesses.

The new approach for the selection of the RKN projects includes projects that are not only related to infrastructure and the rationale of the project must focus on improving the quality of the public and private sector whilst supporting the RKN theme.