3rd NAM meeting focusing on SMEs
By Lyna Mohammad

Group photo with by Awg Hj Abd Rahman Hj Chuchu (front, centre).

The growth of SMEs is crucial in Brunei Darussalam's economic development objective, and various policies and support programmes have been established and implemented in the effort to develop it.

This was stated by Director of Promotion and Entrepreneurship Development Division of the Ministry of Industrial and Primary Resources (MIPR) Awg Hj Abd Rahman Hj Chuchu during his opening speech at the three-day Experts Meeting and Decision Makers on SMEs meeting that commenced yesterday.

SMEs are currently facing various challenges as the likelihood of survival of the new start-ups, in both industrialised and developing countries, continues to be low, and limited access to resources is persistently cited as barriers to SMEs development, he said.

"While business incubators and entrepreneurship have always form part of the SME development policy, there prevails an urgent need for effective and efficient approaches to both mechanisms", said the director.

Themed "Increasing Prospects for Rapid and Sustainable Socio-Economic Development through Business Incubators and Entrepreneurship", the meeting is hosted by Brunei Ministry of Industry and Primary Resources, in collaboration with NAM (Non-Aligned Movement) Centre for South-South Technical Cooperation (NAM CSSTC).

The meeting, conducted at a leading hotel in the capital, is aimed to enable SME policy makers and programme managers from NAM member countries, including the sultanate, to share information and experiences with experts in the same area.

Among the topics that will be presented are the vital role of business incubators in empowering SMEs and issues for successfully implementing business incubators, the financing of business incubators, capacity building and training programmes to enhance SME competitiveness.

It will also touch on ways of accessing new technology and product development, fostering sustainable integration of SMEs into global markets and providing institutional support to SMEs.

Six experts are leading the discussions during the meeting, joining about 25 delegates from NAM member countries such as Bangladesh, Brunei Darussalam, Burundi, Cambodia, Ethiopia, Ghana, India, Indonesia, Lesotho, Madagascar, Mauritius, Myanmar, Namibia, Nigeria, Pakistan, Papua New Guinea, Panama, Philippines, Sri Lanka, Sudan, Thailand, Timor-Leste, Vietnam, West Indies and Yemen.

The meeting, which is the third of such NAM CSSTC meeting hosted by MIPR, is also being attended by several officials from various government ministries and representatives of higher educational institutions of Brunei Darussalam.

\Courtesy of Borneo Bulletin