Local businesses urged to be more export-oriented

Share this:
Minister of Energy, Manpower and Industry, Yang Berhormat Dato Seri Setia Dr Hj Mat Suny Hj Md Hussein delivering his speech and officiating the MSME Festival 2019 at BRIDEX Hall. Image: Ridhwan Kamarulzaman

BANDAR SERI BEGAWAN

Minister of Energy, Manpower and Industry has urged local businesses to become more export-oriented when developing their products – stressing that Brunei’s export outside of the oil and gas sector were only 3 percent of the total export revenue collected in 2013.

Yang Berhormat Dato Seri Setia Dr Hj Mat Suny Hj Md Hussein said that businesses should look more into the quality and the competitiveness of their products, and ensure they are highly qualified to serve the foreign markets.

“In this era that brings new challenges and opportunities, businesses would need to make sure they are able to penetrate the foreign markets by developing innovative ideas – if they want to sustain themselves in the long term,” the minister said.

“At the same time, businesses are also encouraged to seek opportunities, assistance and guidance from relevant agencies including the government and Darussalam Enterprise (DARe) – a statutory body responsible for the growth of MSMEs in the country,” he added.

The minister highlighted that there are more than 5,000 MSMEs in Brunei and hoped they could help each other out to foster stronger economic growth for the nation.

“They also have the opportunity to establish a “consortium” or an aggregate body to improve the capacity, resource and initiatives to help them penetrate the foreign market better,” he said.

With the current number of MSMEs, the minister was sure that there will be goods and services that are unique which can be pushed to the right markets.

“The government will do its best to provide a conducive business environment that could develop local businesses which may also solve their “daily issues” better,” he said.

The minister was speaking at the opening of the MSME Festival this week, which will be showcasing more than 220 local businesses at the Bridex Hall in Jerudong until tomorrow. –Aziq Azman

The Bruneian