Brunei wants to be among world's top 10 countries

The Straits Times, Jan 22, 2008

Development plan sets high targets for per capita income and quality of life
BANDAR SERI BEGAWAN - BRUNEI, which already boasts one of the highest per capita incomes in Asia, wants to vault into the world's top 10, according to a long-range government development plan.
At the weekend, the oil-rich nation unveiled its 'Wawasan Brunei 2035' plan, which calls for better implementation of development initiatives in order to accelerate economic growth.
It identifies tourism as a potential revenue generator and calls for improvements in transport and communications infrastructure and greater investment in research and development, according to an executive summary of the 'Brunei Darussalam Long-Term Development Plan'.
The country is aiming for a 'dynamic and sustainable economy with income per capita within the top 10 in the world', the summary says.
The government also wants Brunei to have a quality of life that is among the world's top 10 nations, it says.
On tourism, the government has set a goal of increasing by at least 7 per cent a year the number of tourists staying in paid accommodation, with an immediate target of 50 to 60 per cent average hotel occupancy this year.
The report also calls for a 50 per cent increase in tourism-related employment by 2010.
It says the transport and communication sector will focus on improving infrastructure, with emphasis on reducing travel time and opening up access within the country.
Another important feature of the initial six-year plan is research and development.
Observers say the government has been debating how to secure its economic future amid dwindling oil and gas resources.
Brunei is the third-largest oil producer in South-east Asia, after Indonesia and Malaysia, and the world's fourth-largest producer of liquefied natural gas, according to the Brunei Yearbook 2007, which says reserves are expected to last for at least two more decades based on current production rates.
The government's long range plan says economic progress has been inconsistent.
It says a delay in implementing development projects has contributed to lower economic growth, limiting effectiveness of the government's fiscal stimulus strategy.
Brunei's government has allocated 9.5 billion Brunei dollars (S$9.5 billion) to implement the initial six years of its long-range plan, the Borneo Bulletin on Sunday quoted Mr Kamis Tamin, permanent secretary in the Prime Minister's Office, as saying.
AGENCE FRANCE-PRESSE