Reap Benefits Of E-Commerce Says Minister
By Lyna Mohamad

Bandar Seri Begawan - E-commerce has grown rapidly over the last decade and continues to move at a faster rate with businesses now expanding and having more sophisticated needs.

This has given rise to more business opportunities and commercial benefits as well as a secured, speedier and more efficient mode of payment for the business community.

This was said by Pehin Dato Seri Setia Hj Awg Zakaria Datu Mahawangsa Hj Sulaiman, Minister of Communications, in his speech at the launching of HSBCnet at the Empire Hotel & Country Club yesterday.

"Our local private sector must be aware of these changes and should take this golden opportunity to capitalise and increase their portion of the global wealth," the minister added.

He lauded HSBC for once again taking the lead in preparing not only the SMEs but also the medium and large companies for the next level of e-commerce.

The minister highlighted HSBC's achievements in e-banking noting that since its launch, c-banking transactions now account for 50 per cent of all HSBC banking transactions as compared to 20 per cent last year.

The introduction of HSBCnet will further strengthen HSBC's standing in the business community while supporting the government's aspiration of becoming a more connected and information-rich society, he added.

Pehin Dato Seri Setia Hj Awg Zakaria stressed that the key feature in e-banking is integrity, adding that he was happy to note HSBC had not forgotten key elements in online security features.

He called upon local businesses to try the new HSBCnet service and to be more proactive in identifying the latest developments in IT.

While congratulating HSBC, he urged the bank to continuously find ways to improve their delivery channels, suggesting that HSBC take the lead in future developments of mobile e-commerce.

The availability of such technology and future development of applications and services or contents especially mobile banking, will bring business opportunities and commercial benefits such as a secured and speedier mode of business transactions that are the trend of the future, the minister added.

Under Brunei's e-governments initiatives, more than 85 per cent of the total e-government budget under the P NDP for various programmes and projects has been endorsed.

In the first quarter of the year alone, several major contracts have been signed with various local companies and their strategic partners or consortium.

As countries around the globe move towards egovernment, Brunei has demonstrated that it is not far behind the world with a Global e-Government Readiness 2004 report by the United Nations placing the Sultanate in seventh place amongst South and Eastern Asia, the minister concluded. -- Courtesy of Borneo Bulletin

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