Answer for Oral Question PL210

QUESTION

Yang Berhormat Dr. Awang Haji Mahali bin Haji Momin

YANG BERHORMAT DR. AWANG HAJI MAHALI BIN HAJI MOMIN asks the Menteri di Jabatan Perdana Menteri dan Menteri Kewangan dan Ekonomi II to state the extent to which the achievements and development of local enterprise development have been recorded to date, considering that many companies have received support, including in revenue growth, profits, business sustainability, overseas marketability as well as employment opportunities?

ANSWER

Yang Berhormat Menteri di Jabatan Perdana Menteri dan Menteri Kewangan dan Ekonomi II

Thank you Yang Berhormat Yang Di-Pertua, Kaola would like to express thanks to Yang Berhormat Dr. Awang Haji Mahali bin Haji Momin for the question regarding the extent to which the achievements and development of local enterprise development have been recorded to date. Alhamdulillah, the Ministry of Finance and Economy, through the Brunei Economic Development Board (BEDB), remains committed to supporting and guiding local enterprises to achieve the level of enterprises that are business resilient, scalable and export-ready.

Under the BEDB ecosystem, various programmes and initiatives have been implemented to provide assistance and support to local MSME enterprises, which to date include efforts such as:

• The generation of more than BND 3 million in contract value through the provision of goods and services supply to large companies under the DAReLinks programme;
• Investment of more than BND 5 million in the form of alternative financing into local enterprises, particularly to support the establishment of innovative startups;
• Through the Co-Matching Scheme initiative, financing amounting to more than BND 1.5 million has been provided to support operational growth;
• The provision of sales platforms through initiatives such as Bruneian Made, MSME Festival, Kontena Park and other expos, which have successfully generated more than BND 8 million in sales revenue;
• The provision of entrepreneurship training and development programmes to enhance skills and knowledge in operating and expanding businesses;
• In addition, there are also other programmes and initiatives such as Startup673, Brunei Innovation Lab, Accelerate, Micro Bootcamp, Academy for Women Entrepreneurs (AWE), Kontena Park, iCentre, and Elevate.

Alhamdulillah, from the programmes, initiatives and assistance that have been implemented, more than 700 new businesses have successfully been established, which in turn have generated more than 2 thousand job opportunities.

Several significant developments have also been seen among MSMEs that received assistance and support. This includes developments in terms of revenue growth, where some have recorded positive growth and have been able to further expand the size of their enterprises such as from the micro level to the small level or medium level, in accordance with the MSME definition issued by the Ministry of Finance and Economy. The efforts undertaken have also helped several MSME enterprises operating on a home-based basis to expand their operations in terms of increased production capacity and successfully relocate their operations to commercial and industrial complexes.

In addition, there are also several MSME enterprises that have successfully improved the quality of their products and services to the point of being able to penetrate export markets. From 2023 until June 2025, BEDB has successfully helped facilitate approximately 22 local enterprises to penetrate export markets abroad, including Malaysia, the Republic of Singapore, the Republic of Indonesia, the Republic of the Philippines, and Thailand.

Yang Berhormat Yang Di-Pertua and Your Honourable Members, nevertheless, it is also acknowledged that the progress achieved remains gradual in nature and varies according to the sector and competitiveness of each enterprise. God willing, continuous efforts will be actively undertaken to improve the coordination of assistance programmes, build a more conducive ecosystem, and strengthen impact monitoring and evaluation to ensure that local enterprises not only survive, but are able to grow and contribute significantly to the country’s economic growth.

That is all. Thank you Yang Berhormat Yang Di-Pertua.