Answer for Oral Question PL259

QUESTION

Yang Berhormat Pehin Orang Kaya Laila Setia Dato Seri Setia Awang Haji Abd. Rahman bin Haji Ibrahim

YANG BERHORMAT PEHIN ORANG KAYA LAILA SETIA DATO SERI SETIA AWANG HAJI ABDUL RAHMAN BIN HAJI IBRAHIM requested MENTERI EKONOMI, PERDAGANGAN DAN INDUSTRI to state the new initiatives that will be implemented to accelerate the development of PMKS, particularly in realising efforts to enhance capabilities and diversify markets to ensure sustainable and resilient PMKS growth in the long term; and whether there have been positive effects from the implementation of these initiatives, especially towards further expanding the economic pie and creating new employment opportunities.

ANSWER

Yang Berhormat Menteri Ekonomi, Perdagangan dan Industri

The Brunei Economic Development Board (BEDB) continues to strengthen the development of Micro, Small and Medium Enterprises (PMKS) through programmes and forms of support that take into account the stage of development, growth potential and market needs of each enterprise.

In this regard, BEDB is also strengthening its collaboration with chambers and business associations to understand industry needs, expand business networks and improve local PMKS access to information, market opportunities and strategic partnerships.

Among the new initiatives and enhancements being implemented or planned are:

• Tech Enablement Programme: Assisting local PMKS in adopting subsidised digital solutions to improve efficiency, productivity and business management. Since its launch in May 2025, 66 companies have registered and 48 have utilised the programme.

• Growth Facilitation Fund: Supporting companies under the Elevate programme in implementing high-impact growth strategies such as the use of technology and machinery, branding, research and development, internationalisation and expert services. Funding of up to 60 per cent of eligible costs may be provided, with a maximum amount of BND100,000 for each company.

• Startup Catalyst Fund: Providing co-matched investments with regional venture capital firms for high-potential local startups or PMKS seeking to enter overseas markets, while also providing access to regional expertise, networks and markets.

• Angel Investing Network: Connecting local PMKS and startups with investors who can offer capital, experience and business mentoring.

• Product Development and Market Entry: Assisting local PMKS in improving product quality, packaging, labelling and compliance before conducting market trials and entering target markets.

• Strengthening the Startup and iCentre ecosystem: Strengthening incubation programmes through collaboration with local and regional ecosystem enablers to assist startups in developing products, acquiring customers and attracting investment.

The positive effects targeted through these initiatives are increased productivity and sales revenue, market and export expansion, import substitution, increased investment in local companies and the creation of new employment opportunities. Overall, these developments are expected to expand economic activity and strengthen the long-term growth and resilience of local PMKS.