Addressing the efficacy of the existing end-to-end mechanism supporting the development of micro, small and medium enterprises (MSMEs) in Brunei is crucial, given its significant impact on the national economy. The establishment of Darussalam Enterprise is aimed to assist, train, and guide MSMEs, with the Bank Usahawan providing financial support.
However, the absence of an overarching policy for fair and transparent contract awards remains a notable gap.
MSMEs in Brunei encounter genuine challenges, impeding their growth and success due to limited contract opportunities with terms favouring well-established organisations that have already achieved economies of scale. The current local business development directive is not applicable to most other sectors. Expanding the coverage of this directive to include diverse industries in Brunei is imperative to create an equitable business environment.
It is time to reassess the scope of the Local Business Development (LBD) directive. As an MSME representative, I express deep concerns about the sluggish progress. Emphasising the need for inclusive policies will foster a more balanced and supportive ecosystem for the growth of all industries in the country.
Struggling MSMEan
