Monday, April 15, 2024
27 C
Brunei Town

Local entrepreneurs share insights on cross-border trade

Young Entrepreneurs Association of Brunei (YEAB) and Baiduri Bank co-hosted the third iteration of Power Lunch Series on Trading Beyond Borders, featuring a discussion on ‘Trading Beyond Borders: Planting the Seeds’ which brought together over 40 industry leaders, young entrepreneurs from sectors including tech, services, retail, F&B, manufacturing and representatives from government agencies discussing opportunities for businesses internationally as well as issues and challenges to overcome to encourage Bruneian businesses to do trade cross border.

The session, held at the Baiduri Community Space at the Baiduri HQ on Wednesday, saw a discussion between Memori CEO and Co-founder Yang Berhormat Chong Chin Yee, Ghanim International Corporation CEO Dr Nur Rahman, Digital Innovation and Growth Co-Founder Aimi Ramlee and Director and Muara Port Company Sdn Bhd Chief Operating Officer Fazilah Yassin share their insights and experiences in doing or facilitating cross border trade, while Confer Sdn Bhd Managing Director Allen Lai facilitated.

“I believe there is immense potential that lies within our MSMEs, and they should embrace international trade to propel growth,” said Baiduri Bank Head of Business Banking Mohd Isa Liew bin Mohd Amin Liew.

“While we have made great strides in developing our domestic market, we must now set our sights beyond our borders. Trading beyond borders holds immense opportunities for our MSMEs, opening up new markets, attracting foreign investment, and fostering economic resilience.

“As a part of the bank’s support to the MSMEs, we aim to create an ecosystem that nurtures entrepreneurship and enables businesses to flourish. Our commitment to fostering the growth and development of local businesses is deeply ingrained in our values. We believe that empowering MSMEs is key to unlocking the full potential of our economy. By providing them with the necessary tools and opportunities, we can cultivate a vibrant and sustainable business ecosystem,” he said.

“As our government has set out in our Economic Blueprint, particularly Aspiration 1: Productive and Vibrant Businesses which calls for businesses to have the ambition and drive to grow through export and cross border business, we must recognise the challenges faced by our businesses in aspiring to go beyond the shores and realise why to date this is still a far reach for us. Therefore, we putting this session together inviting relevant stakeholders together to exchange insights and experiences to encourage more businesses to join in the call for trading internationally,” YEAB President Fatin Arifin added.