Central bank needs to be more flexible on aiding local business

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Azlan Othman

Legislative Council (LegCo) member Yang Berhormat Pehin Orang Kaya Johan Pahlawan Dato Seri Setia Haji Awang Adanan bin Begawan Pehin Siraja Khatib Dato Seri Setia Haji Mohd Yusof called on Brunei Darussalam Central Bank (BDCB) to be more flexible by facilitating the loan process for micro, small and medium enterprises (MSMEs) lacking financial means yesterday.

“Agencies should look into the grievances of local businesses, especially those that have just entered the market.

“It is a reality that we must face if we want to help the locals develop their business and aid them in penetrating foreign markets,” he said at the 19th LegCo session.

He also welcomed the Ease of Doing Business initiative in making the Sultanate more pro-business and competitive.

“The business licences that have been revoked need to be reviewed. Issuing business licences generate income for the country amounting to millions of dollars.

Legislative Council member Yang Berhormat Pehin Orang Kaya Johan Pahlawan Dato Seri Setia Haji Awang Adanan bin Begawan Pehin Siraja Khatib Dato Seri Setia Haji Mohd Yusof. PHOTO: BAHYIAH BAKIR

“The transformation introduced to facilitate business activities must be maintained, as it is one way to generate income.

“Foreign workers have been able to set up businesses in more than one place without following what is stated in the licence; some even abuse their work passes. We should keep such malpractice at bay and prevent it from becoming prevalent, thus destabilising the country,” Yang Berhormat Pehin Orang Kaya Johan Pahlawan Dato Seri Setia Awang Haji Adanan said. He also suggested upgrading and integrating the present Bru-HIMS and BruHealth systems to strengthen the health system.Instead of introducing new technologies to the healthcare ecosystem, such as the establishment of Intelligence Hub.

Yang Berhormat Pehin Orang Kaya Johan Pahlawan Dato Seri Setia Awang Haji Adanan said, “Sometimes we emphasise on more complicated projects with high-end technologies but we overlook the provision of basic infrastructure such as lack of maintenance in public facilities.

“We need to find out the root cause of such a problem, whether it is due to the lack of supervision and commitment or having unaccredited contractors appointed for the job,” he said.