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Brunei to revamp entrepreneurship ecosystem

Waqiuddin Rajak

His Majesty Sultan Haji Hassanal Bolkiah Mu’izzaddin Waddaulah, the Sultan and Yang Di-Pertuan of Brunei Darussalam, this morning announced a major restructuring on the country’s entrepreneurship ecosystem in a bid to produce more young Bruneian entrepreneurs.

The restructuring will see more capacity-building programmes, improved physical and digital infrastructure, better funding systems and market access for local businesses.

In his Titah delivered during the entrepreneurship-focused 13th National Youth Day celebration held at the International Convention Centre (ICC), His Majesty said that the move is aimed at encouraging more Bruneian youths to take up entrepreneurship and become pioneers in various fields.

“The government will work closely with the young entrepreneurs to achieve this,” said the Monarch.

He also called for the revival of the Brunei Young Farmers Programme as it could provide more business opportunities for Bruneians.

“All of the existing and planned initiatives can produce hundreds of entrepreneurs and thousands of employment opportunities if fully-utilised, so we have to make sure they would all not go to waste,” added His Majesty.

During the ceremony, His Majesty also launched the I-Usawahawan apprenticeship programme, an initiative aimed at giving young Bruneian entrepreneurs opportunities to take up contracts issued by major industry players, including government-linked and Brunei Shell Joint Venture (BSJV) Companies.

Currently, there are 30 contracts in the oil and gas sector being offered through this programme.

His Majesty said that the programme could be further extended to other sectors in the future.

Also present during the ceremony were His Royal Highness Prince Hj Al-Muhtadee Billah, the Crown Prince and Senior Minister at the Prime Minister’s Office, HRH Prince ‘Abdul Malik, HRH Prince Mohamed Bolkiah and HRH Prince Jefri Bolkiah.

The event was chaired by the Minister of Culture, Youth and Sports, Yang Berhormat Major General (rtd) Dato Paduka Seri Haji Aminuddin Ihsan Pehin Orang Kaya Saiful Mulok Dato Seri Paduka Haji Abidin.

Bruneians celebrate the National Youth Day on August 1.

The theme for this year’s celebration is “Belia Pemacu Brunei Maju” (The youth as the driving force for Brunei’s progress).