More clarity needed on ease of doing business

Dear Editor,

I refer to the article "Making doing business easier".

Good to know that steps are being taken to make Brunei more attractive to foreign investors as we would be able to benefit, in the long term, not only by the creation of jobs but also the transfer of technology which could be a tremendous help in our bid to diversify our economy.

Even though we provide tax exemptions which can go up to a substantial number of years, we have been unsuccessful in getting foreign investments outside the oil and gas industry.

Improvements in the policies may help expedite the process and break down some barriers but will it be enough to encourage foreign investments? Will there be a review of the processes? and are there initiatives to improve and integrate them so that redundancies are eliminated?

Illustrating a fictitious scenario from the exchange/purchasing of land or shops; for instance, an application was forgotten until the applicant queried about it, then again he has to wait for processing. Such a delay could be disastrous as it may completely shatter plans made by firms. It's not improbable but do the relevant authorities have the necessary procedures in place to prevent it in the first place and or rectify it?

what are the basic infrastructure requirements that are needed by businesses today?

For instance, research firms may require high speed Internet services to move data across the world, and tech firms may require it to provide their services, with the most important aspect being cost effectiveness. Road congestion will also be a factor especially as our population increases.

I am supportive of the initiatives to make doing business in Brunei easier but let's not forget our local SMEs as they form an important part in providing a country with sustainable economic growth.

A well wisher
Bandar Seri Begawan