Time For Local Entrepreneurs To Be More Competitive
By Danial Norjidi
Thursday, 31 May 2012
Bandar Seri Begawan – “It is high time that we be competitive and look at Brunei’s economic strengths outside the oil and gas industry.”
This was said yesterday by Dyg Hjh Normah Suria Hayati binti Pehin Jawatan Dalam Seri Maharaja Dato Seri Utama (Dr) Hj Mohd Jamil Al-Sufri, the Permanent Secretary at the Ministry of Industry and Primary Resources (MIPR).
“We should no longer talk about a small market as the Asean population comprising 500 million people is at our doorstep,” she said at the launch of the Asia Inc Forum’s Local Business Development Seminar on the Blue Ocean Strategy at The Empire Hotel and Country Club.
“There are vast opportunities out there but the way forward is to determine the correct strategies and products the Sultanate can best play its role in,” the permanent secretary said. She highlighted that Brunei is a small country with limited resources but the people should take inspiration from globally available products made in small countries such as Nokia from Finland, Mercedes and BMW from Germany and Rolex from Switzerland.
“The question here would be to identify the strength Brunei has to diversify its economy from oil and gas. The audience here today are the engines of growth and enablers who make it happen.”
She urged the entrepreneurial audience to ask themselves how they can .compete with the People’s Republic of China, who produces almost everything in high quality.
“With the blessings from Allah the Almighty, Brunei Darussalam remains a strong Islamic country and this is our strength to move forward,” she said.
Dyg Hjh Normah also touched upon the Brunei Halal Brand, which was established by the MIPR in collaboration with the Ministry of Religious Affairs and the Ministry of Finance.
The products have currently been marketed in the Sultanate and Singapore. The brand has also been successful in penetrating the regional and international markets as they are trusted to be a quality Halal certification partner that also offers excellent products from other countries. This initiative opens up vast opportunities for local SMEs to partner with foreign companies, providing services such as logistics and supplying raw materials among others.
“The Brunei Halal is also a vehicle for local products to enter the international market,” she said. “The opportunity in the Halal business is huge, serving nearly two billion Muslim consumers – much more than the Asean population of 500 million.
“We have travelled to many countries to promote the Brunei Halal brand and the response has been overwhelming. Alhamdulillah, we are not short of investors and neither are we short of partners and consumers,” she said.
The ministry has also identified opportunities for growth in being “green and clean”, saying that Brunei is gearing up to become partners in research and development in the area of life sciences.
“Today, consumers are more conscious of the environment and it is indeed trendy to be green and organic,” she said. “Through research and innovation, some noble products can be discovered such as natural colouring, health products, natural herbs and many more that can create multi-billion-dollar businesses.”
The permanent secretary emphasised that there is no need to cut down trees to make money as Brunei’s biodiversity will become its source of wealth in the future. Dedication, hard work, collaboration and investment can make this happen.
“Endless opportunities lie ahead of us. Both initiatives lead to the birth of knowledgeable and professional Bruneians, while bringing in a lot of opportunities for our SMEs to grow.”
The permanent secretary expressed her delight at the commitment of bigger companies, including banks, in supporting local SME development, and believes that if all parties work together, greater success can be achieved.
She said that through channels such as yesterday’s seminar, SMEs can acquire the vital tools to help them better manage their business issues and enhance their awareness of the right strategies for them to address the challenges. “The Ministry of Industry and Primary Resources is constantly on the lookout to engage with industry stakeholders to better understand your needs and concerns,” she added. “We will also collaborate with companies to bridge the gaps and develop policies and programmes that will enhance SME development.”
The permanent secretary also expressed her confidence in the renowned UCSI Blue Ocean Strategy Regional Centre, which she felt, would bring forth inspiring perspectives and stimulate breakthrough growth.
“As the industry grows, may the sky remain blue, air and water remain clear and the country green,” she was quoted as saying. “May we also achieve our dreams in `Creating Breakthrough Growth in Your Business’,” she said.
—Courtesy of Borneo Bulletin