Business forum to address ‘urgent need’ to for productivity, efficiency to be key drivers

Posted on  12/11/2012  |  Media Centre


Monday, November 12, 2012

THE Brunei Business Forum 2012 will discuss the urgent need to position productivity and efficiency as the key driver of Brunei’s economic growth, the organiser said yesterday.

Asia Inc Forum, in partnership with HSBC, Total, Butra HeidelbergCement and Aloca is set to host a half-day Brunei Business Forum on November 22 at the Radisson Hotel.

The forum, themed “Unlocking Productivity, Fuelling Growth”, will discuss the urgent need to position productivity and efficiency as the key driver of economic growth in Brunei, Asia Inc said in a statement yesterday.

“As outlined in the 10th National Development Plan, productivity growth has been recognised as the cornerstone of the Brunei economy moving forward. Whilst key investments in areas such as education, research and development, innovation and entrepreneurship will take center stage over the next five years, there is consensus on the need for us to align national spending and economic activities to productivity.

“The current growth rate of the Brunei economy averaging at around two per cent over the last several years may not be able to sustain our development aspirations. These are all echoed in the recent month at Brunei Britain Business Forum and the closed door CSPS Forum,” the statement read.

Dato Paduka Haji Ali bin Haji Apong, Deputy Minister at the Prime Minister’s Office and Chairman of the Brunei Economic Development Board, recently called for the need to focus more on improving productivity in non- oil and gas sector, highlighting that Brunei’s activities and projects outside oil and gas contribute relatively small GDP growth in comparison to the neighbouring countries.

“Together with our partners, we would like to facilitate the shift to productivity effectively through this year’s forum by providing the platform for dialogue to address key areas such as the roadmap to productivity and how knowledge and innovation fits into the picture,” said Fatin Arifin, a programs and research executive at Asia Inc Forum.

“There will also be a town hall session that will enable participants to participate in the discussion to share their insights and input into this very urgent matter,” she said.

The Brunei Business Forum is a forum for CEOs, entrepreneurs, members of government and the next generation of Brunei to dialogue around business prospects, issues and best practices.

Interested parties man contact for more information.

The Brunei Times