Kiulap: Micro, Small and Medium Enterprises, or MSMEs, are pivotal to Brunei Darussalam’s domestic economy, representing over 93% of private sector businesses and employing the majority of the nation’s workforce. These enterprises, numbering over 6,400, play a crucial role in the country’s economic diversification efforts. The significance of MSMEs was emphasized by the Minister at the Prime Minister’s Office and Second Minister of Finance and Economy during the Second MSME Roundtable Series on Manpower and Workforce Challenges, held on December 8th at a hotel in Kiulap.
According to Radio Television Brunei, Yang Berhormat Dato Seri Setia Doctor Awang Haji Mohd. Amin Liew bin Abdullah, who chairs the Brunei Economic Development Board, highlighted the complex challenges facing MSMEs. He noted that these challenges require more than just government intervention; they necessitate enhanced collaboration and active participation between government agencies, companies, and educational institutions.
The roundtable gathered policymakers, industry stakeholders, and business leaders to deliberate on workforce-related challenges impacting MSME operations. The aim was to align efforts to bolster Brunei’s labor ecosystem, thereby supporting long-term private sector growth in alignment with Wawasan Brunei 2035’s economic objectives.