In a motion of thanks during the 20th session of the Legislative Council (LegCo) meeting yesterday, LegCo member Yang Berhormat Awang Abdul Aziz bin Haji Hamdan highlighted the importance of collaborative efforts to support the initiatives set forth by His Majesty Sultan Haji Hassanal Bolkiah Mu’izzaddin Waddaulah ibni Al-Marhum Sultan Haji Omar ‘Ali Saifuddien Sa’adul Khairi Waddien, Sultan and Yang Di-Pertuan of Brunei Darussalam.
Yang Berhormat Abdul Aziz added that the monarch’s call emphasised on generating employment opportunities, boosting economic sectors and enhancing human capacity building, particularly among local entrepreneurs and various groups.
Yang Berhormat Abdul Aziz underscored the need for a whole-of-government and whole-of-nation approaches, emphasising stronger collaborations involving the private sector and non-governmental bodies. The focus lies on implementing awareness programmes promoting sustainable development, encouraging active participation, especially from the youth, in shaping the future of Brunei Darussalam with an emphasis on environmental, social, and governance initiatives.
Yang Berhormat Abdul Aziz also emphasised the crucial role of the youth in transforming climate challenges into opportunities for a more resilient future. He called for the continuous enhancement of initiatives and incentives to encourage young generations to venture into small and medium enterprises (SMEs) sector.
Recognising that SMEs as a significant contributor to the country’s economic income, he highlighted the potential for creating successful entrepreneurs and expanding job opportunities. The success of young entrepreneurs in the SME sector has a positive impact on the country’s economic development.
To achieve this goal, he suggested the necessity of research to understand the driving factors leading to the success of local young entrepreneurs in the SMEs sector. The recommended programmes should equip entrepreneurs with the tools and skills needed to navigate the dynamic business landscape, ensuring success in the international market.
The objective of all parties should align with His Majesty’s titah as a challenge towards advancing the nation’s agenda, including formulating inclusive strategic plans that also consider the creation of transformation projects towards establishing a new business climate and ecosystem beneficial to all groups. This includes upgrading existing infrastructure and commercial buildings to be more relevant, addressing challenges such as vacant commercial spaces and lack of customer attraction.
Formulating policies and regulations that provide opportunities for new entrepreneurs to engage in business is crucial.
The method of diversity or multi-functional business concept used by developed countries can be applied as a catalyst for change, where, fish and vegetable markets are transformed into recreational areas, shopping centres as well as doing business deals with banks, and serves as tourist attractions, he said. – Rokiah Mahmud
