Tuesday, July 23, 2024
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Brunei Town

More opportunities for youth entrepreneurs

Darussalam Enterprise (DARe) will implement the expansion of the i-Usahawan programme to the non-energy sector, said the organisation in a statement yesterday.

I-Usahawan was introduced in 2018 to support and provide opportunities for young local entrepreneurs to start and grow businesses by securing ring-fenced contracts offered by government agencies, government-linked companies, statutory bodies and corporate organisations.

According to DARe, the programme’s expansion to the non-energy sector will be under the management of the Ministry of Finance and Economy (MoFE) and will be implemented by DARe, while i-Usahawan for the energy sector will remain with the Department of Energy at the Prime Minister’s Office.

DARe said it has been working closely with the non-energy sector to identify suitable ring-fenced contracts for young entrepreneurs.

The non-energy sector contracts will be from clients outside of the oil and gas sector and downstream industries, and will include selected public sector contracts.

The organisation said these contracts will be shared during Energy Week and Economy Week at Brunei Mid-Year Conference and Exhibition 2022 (Brunei MYCE2022) this month, and hope interested youth can work towards forming businesses that can offer competitive propositions for participating clients.

DARe said that the i-Usahawan non-energy sector programme’s eligibility criteria comprise the following:
– Bruneian citizens and permanent residents (not including citizens of foreign country);
– Individuals aged 18-35;
– The business or company must be locally registered with the Registry of Companies and Business Names Division, MoFE;
– The business or company must not have any prior contract with the government agencies, government linked companies and statutory bodies in the previous five years;
– Business owners and/or shareholders must be actively running and involved in the daily operations; and
– Incorporation as ‘Sendirian Berhad’ in Brunei is encouraged upon award of contract