Problems Of Being Small Discussed At UBD Forum

Bandar Seri Begawan – Small nations face particular problems in developing and diversifying their economies, as small populations do not allow economies of scale to be reached when producing for the domestic market.

In the meantime, research and the potential for invention and development of new products may be constrained when compared to larger economies with larger populations.

Pehin Dato Dr Awang Haji Ahmad the Minister of Development, said in his opening speech at the International Conference on Contemporary Issues in Economic Development of Small States yesterday.

The minister's speech was read by Dato Paduka Haji Sheikh Adanan, the Permanent Secretary at the Ministry of Education.

In a titah in conjunction with the New Year 2005, His Majesty spoke about the country's development and underscored the importance of all the sectors to pool together efforts towards this end.

His Majesty's said the process of national development would not be complete without the involvement of the private sector.

His Majesty urged government agencies to support the private sector fully and make this a priority, especially towards the establishment of the small and medium businesses owned by the citizens.

About 120 participants from government and private sectors attended the two-day conference at the Universiti Brunei Darussalam.

The conference aimed to serve as a forum for interested parties to consider and discuss the current trends, challenges and opportunities for economic development of small states. -- Courtesy of Radio Television Brunei

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