Bridging the Gap Between Business and Government
Opportunities to develop Belait’s economic potential were at the forefront of discussions during the Brunei Economic Development Board’s (BEDB) inaugural roundtable dialogue with the Belait business community. The event was held at the Grand Ballroom of the V Plaza Hotel. It brought together 30 leading business representatives from the district to engage with BEDB and key government agencies.
The session was led by Minister at the Prime Minister's Office, Minister of Finance and Economy II, and BEDB Chairman, Yang Berhormat Dato Seri Setia Dr Awang Haji Mohd Amin Liew bin Abdullah. “This Roundtable provides us with an opportunity to share ideas and demonstrate our commitments to work together to improve the business environment in the Belait town. This is crucial to driving its economic potential,” said the Minister in his opening address.
Optimism for Collaboration
The dialogue allowed Belait’s business community to express optimism about working collaboratively with BEDB and government agencies. They aimed to address shared challenges and unlock opportunities for economic growth.
Key suggestions included creating more affordable, shared commercial spaces for micro, small, and medium enterprises (MSMEs). This could enable them to operate collectively, potentially becoming an attraction for both the district’s residents and nearby visitors.
“We know that Belait’s population has spending power. This is especially true with the significant expatriate community here,” said Masrhiem Taufik, Managing Director of ESCA Martine & Engineering.
However, he pointed out that commercial spaces can be quite limited and costly. “MSMEs often resort to renting residential units or running businesses from home. We’re eager to work with BEDB to explore possibilities. For instance, we could repurpose underutilized buildings into business hubs for MSMEs,” Masrhiem added.
Addressing Barriers to Entry
Echoing this sentiment, Dannie Azzura Hj Abu Basrah, who operates a real estate agency, highlighted consistent interest from businesses seeking to open in Belait. Yet he cited limited options as a significant barrier. “Now that we have this channel for dialogue, I am confident that this represents a fresh platform for us to work with BEDB and the government. Together, we can develop Belait to the potential we know it has,” said Dannie.
Networking Luncheon: Strengthening Connections
Following the dialogue, a networking luncheon was held to further strengthen connections among attendees. The event drew participation from key players across various sectors, as well as representatives from business associations. This networking opportunity allowed for vital discussions on the shared vision for Belait’s economic landscape.
In these discussions, participants focused on addressing critical challenges. They also identified actionable solutions to support the growth of Belait’s commercial ecosystem. BEDB emphasized its commitment to fostering a platform for collaboration and innovation. The goal is to drive sustainable growth for the region.
Future Initiatives and Engagements
The Belait engagement is part of BEDB’s broader initiative to conduct dialogues with different business sectors. This initiative aims to ensure that all voices in the business community are heard. BEDB encourages businesses to reach out for support or to raise issues through info@bedb.gov.bn.
As the economic landscape of Belait continues to evolve, ongoing dialogue will be essential to harnessing its potential. Together, the government and the business community can create a robust environment that promotes growth and innovation.
In conclusion, the inaugural roundtable dialogue marked a significant step towards building a collaborative framework between Belait's business sector and government agencies. By maintaining this momentum, there is great potential for a thriving economy that benefits everyone involved. It’s clear that with collaboration, innovation, and strategic planning, Belait has an exciting road ahead.