In Brunei Darussalam, 97.3 percent of local enterprises are made up of Micro, Small, Medium Enterprises, MSMEs which play an increasingly important role as the country move towards economic diversification. In fact, under the Brunei Darussalam Economic Blueprint, all the aspirations are geared towards the cultivation and progress of MSMEs.
The Minister at the Prime Minister’s Office and Second Minister of Finance and Economy stated the matter in a closing keynote address of Bank Islam Brunei Darussalam, BIBD’s SME360 Series in conjunction with Economy Week of the Brunei Mid-Year Conference and Exhibition, MYCE 2022. Yang Berhormat Dato Seri Setia Doctor Awang Haji Mohd Amin Liew bin Abdullah also underlined that MSMEs play an important role in protecting the environment. As many small businesses form part of larger businesses’ supply chain, commitment to sustainable business, can therefore positively contribute to their supply chain by lowering their overall carbon footprint.
The closing session featured a high level discussion on factors affecting Brunei’s business outlook in 2022 and beyond, especially with the reopening of borders, inflation, supply chain disruptions and staff shortages in the wake of COVID-19. Panellists also discussed new realities and challenges in the new frontier, and the roles that SMEs play in contributing to the economy.
Source: Radio Television Brunei