Some 17 foreign direct investment (FDI) companies on July 26 gathered in a dialogue session on promoting local business development through their procurement processes and providing new business opportunities for local micro, small and medium enterprises (MSMEs).
The dialogue session hosted by Darussalam Enterprise (DARe) in collaboration with the Brunei Economic Development Board (BEDB), served as an opportunity to exchange best practices and success stories in local business development and in-country value practices.
The event focused on introducing platforms like DARe LINKS and i-Usahawan Non-Energy to FDIs to support and encourage local business development. Insights were also shared by representatives from the supply chain management of Muara Maritimes Services Sdn Bhd and Brunei Shell Petroleum Company Sdn Bhd.
An online business-to-business platform, DARe LINKS facilitates business linkages between local clients with locally-registered businesses including MSMEs with the platform offering comprehensive support to ensure effective contract performance.
Participating FDIs also had the chance to offer ring-fenced contracts through the i-Usahawan programme, which is a dedicated youth entrepreneurship development initiative that empowers young Bruneians to establish and grow their business through direct contracts with participating clients. DARe, through direct procurement and spin-off opportunities, supports participants by linking them with local suppliers registered in DARe LINKS.
FDIs can participate in the i-Usahawan programme, enabling youth entrepreneurs to secure contracts with established businesses while gaining mentorship from industry experts to foster business growth.
The recent gathering marks the beginning of a series of engagements with each FDI, allowing DARe to identify and materialise opportunities for local businesses. The initiative also presents FDIs with an opportunity to contribute to the local supply chain and inspire businesses to engage in more opportunities.
Local suppliers are encouraged to register as vendors at DARe LINKS official website and further information and assistance, businesses can reach out to DARe via email. – Lyna Mohamad
