| Lyna Mohamad |
THE number of micro, small and medium enterprises (MSMEs) in 2015 was 96 per cent of 5,342 local enterprises, thus contributing approximately 35 per cent of the overall revenue generated by local companies, according to the 2016 Economic Enterprise Survey or Business Year
In addition, with local companies becoming significant employers in the recruitment of about 115,000 employees, MSMEs can be a stimulus towards economic growth and open up new job opportunities.
This was highlighted by Minister of Energy, Manpower and Industry Dato Seri Setia Dr Awang Haji Mat Suny bin Haji Mohd Hussein yesterday, at the launching of DARe’s (Darussalam Enterprise) MSME Festival.
“We have entered a global era of new challenges and opportunities,” he said. “The long-term sustainability of these companies is based on their ability to penetrate overseas markets, as well as their innovative power.”
The minister also called on all relevant parties, including DARe, stakeholder agencies, local companies and members of the local business community to ponder the titah of His Majesty Sultan Haji Hassanal Bolkiah Mu’izzaddin Waddaulah ibni Al-Marhum Sultan Haji Omar ‘Ali Saifuddien Sa’adul Khairi Waddien, Sultan and Yang Di-Pertuan of Brunei Darussalam.
“Firstly, His Majesty’s titah at the Special Conference on February 7, 2018, call on improving methods for the increased production from small and medium entrepreneurs,” he said.
“Aside from encouragement by way of promotion, entrepreneurs also need to be assisted in their development, whereby the most vital assistance is guidance for the successful start-up and management of their businesses.
“This is important because not all entrepreneurs have business acumen, while the current initiatives need further improvement.
“The establishment of DARe solely serves to support and drive the growth of MSMEs. It is their duty and responsibility to ensure that all MSMEs involved in this festival, as well as those without the means to take part, will be regularly guided and shown the way to success until they are capable of expanding their local and foreign networks, while improving their individual sustainability.”
The minister emphasised the titah of His Majesty at the official opening ceremony for the first meeting of the 15th Legislative Council (LegCo) session, where local companies were also urged to upgrade their product quality, to compete and benefit from trading without borders.
“We need to be export- and global-orientated in conducting business affairs,” he said. “As of 2013, exports from the non-oil and gas sector contributed to only three per cent of the total revenue from Brunei Darussalam’s exports.
“At the same time, entrepreneurs are encouraged to take advantage of the opportunities on offer from the government and DARe, as well as from among themselves.
“As mentioned earlier, there are more than 5,000 local MSMEs on our country’s current business landscape. It is hoped that these MSMEs will help one other, as members of the local business community, in mutually improving their prestige and contributions towards our country.
“There are many unique local products and services that need to be promoted to the right target market, in addition to being developed as niche products and services that are not available anywhere else.
“Let us all work together in responding to the titah of His Majesty. The MSMEs will have the opportunity set up a united consortium or an aggregate body to boost capacity, energy resources and in taking initiatives to penetrate the export market.
“In the meantime, DARe and local traders are expected to adopt the ‘whole-of-the nation’ approach, to ensure the success of the country’s economic sector and the oil-and-gas downstream sector, as well as that of the food tourism and services sector, the info-communications technology (ICT) sector and the manufacturing sector.”
The minister then pointed out that as of 2015, only a small number of companies are involved in these sectors, and urged DARe to provide the relevant guidance and services, as well as the impetus to penetrate these fields.
“The government will continue to strive towards providing a business climate that is conducive to local business development, including MSMEs and the resolution of issues faced by entrepreneurs in conducting their daily business affairs,” he said.
The minister expressed hope that the MSME Festival would open up new opportunities for the participating companies.
“In business and trading, we need to bear in mind the noble principles of Islamic teachings, including the importance of maintaining cleanliness and holiness and upholding our integrity,” he said. “These need to be applied as one of the best practices, and Insya Allah, the status and reputation of our local products and services will be first-rate.”