SME Panel Creation Gets Nod
By Debbie Too

Bandar Seri Begawan -Entrepreneurs are giving the thumbs up to the Ministry of Industry and Primary Resources' decision to set up a committee to help small and medium enterprises (SMEs) grow and succeed in their export ventures.

The creation of the Local Product Development and Product Promotion Committee "is a good thing", said SallehBostaman H Zainal-Abidin, a member of the Apec Business Advisory Council.

"Any help the SMEs can get will surely be appreciated," he said. "Brunei SMEs, when compared on a global standard, can still be classified as cottage industry, but with the Government's help, they can be upgraded and pushed forward to grow. This will also provide more job opportunities for people to move out of the civil service and to move away from dependency on oil and gas."

One of the key areas where SMEs need the most help is in financing and this is hard to come ` by, according to businessmen, but with support from the Government, this problem could be addressed.

"When SMEs go to the banks to apply for a business loan, (bankers) ask for a lot of collateral that these SMEs simply cannot provide, but with the Government's help, maybe it could be easier to help finance these SMEs," said Mohamed Haniff Madakia, general manager for Semaun Seafood Sdn Bhd.

Abdual SamanAhmad, executive chairman of Circle Freight International, shares this view.

"Without enough funding, these SMEs cannot produce enough products to meet the volumes that are required overseas. Locally, they can produce enough, but when it comes to exporting, they might need ten times the volume.

"It is a very good move to help the SMEs, especially with His Majesty's good bilateral relations with other countries. The Ministry of Industry and Primary Resources will act as the driver to help these SMEs export regionally and internationally," he added.

Adriana Agustin, business counsellor for LiveWire, said the creation of the committee is "a big step forward" for the ministry in its bid to help develop the SMEs and harness their potential to contribute to the economic development.

"I'm not aware of who is in the committee but I think that it would be nice to have the SMEs approach them to tell them what is needed."-- Courtesy of The Brunei Times

Click Here To Have Your Say On This Story

Brudirect.com News

Brunei's Fastest Growing Website with