Thursday, February 29, 2024

Opening Up Opportunities in Brunei

According to global business knowledge web-portal globalEDGE™, Brunei’s crude oil and natural gas accounts for 60 percent of its GDP and over 90 percent of its exports. Beyond the O&G industry however, Brunei also has other industries ripe for regional expansion. For YB Siti Rozaimeriyanty Abd Rahman – the Chair of the ASEAN Business Advisory Council Brunei (ASEAN BAC Brunei) and a member of the Brunei Legislative Assembly – a prestigious awards ceremony like the International Business Review ASEAN Awards can be a platform for Bruneian companies, particularly MSMEs, to showcase their credentials to a wider audience across the region. International Business Review is pleased that YB Siti Rozaimeriyanty has agreed to join the Adjudication Panel for the upcoming International Business Review ASEAN Awards 2022. We are also pleased to bring to you excerpts from an interview our sister company VOICE OF ASEAN conducted where she highlights the importance of networking and businesses learning from each other to grow.

“The ASEAN Business Advisory Council (ASEANBAC) was formed with the mandate of providing private sector feedback and guidance to boost the ASEAN economy. This includes bridging the private sector and governments in order to ensure that voices of the micro, small and medium enterprises (MSMEs) are heard. As ASEAN is set to be the world’s third largest economy by 2030, there is much work that needs to be done in order to seamlessly bridge gaps such as the knowledge gap between businesses. For one, some companies are
equipped with the knowledge to adapt with digital technology, while others have deep
industry experience. During my time as the Chair of the ASEAN-BAC, I rolled out a legacy project called Harnessing Impact with Resilient Employability Digitally (HIRED) that emphasises on dual mentorship between business-to-business and piloting skills training programmes. The project would play an important role in supporting the recovery of business post the Covid-19 pandemic by strengthening the workforce capacity in ASEAN.
This method of teaching and learning is avery good way for smaller companies to avoid mistakes in the future as established businessowners can provide mentorship to them. It is also important that the sharing of experiences and digital skills should be inclusive rather than exclusive.

Not About Winning or Losing

I also believe that more platforms should leverage on networking so that companies can learn from one another. That is why I have agreed to be a member of the Adjudication Panel for the International Business Review ASEAN Awards 2022 as I believe that it is such a platform. I also believe that more than just winning, companies should participate in the Awards as it offers them the opportunity to learn and network with one another. I would like to see companies that have participated and won an award to mentor smaller companies as the latter can learn a lot from the experience and characteristics that distinguished the winning company,” she says. The metrics of victory should also be examined from a different angle. What I like is that the International Business Review
ASEAN Awards looks into three main key aspects, such as integrity and respect, energy and enthusiasm as well as teamwork and inclusivity. This is something very close to my heart, and I believe that these factors are more important than just financial revenue or business size, which is what most other awards would focus on.

YB Siti Rozaimeriyanty, 2021 Chairwoman of ASEAN Business Advisory Council

Expand the Horizons

The Brunei government is now shedding light on various industries beyond the O&G industry. These, in particular, are Information Communications Technology (ICT), creative, maritime, manufacturing as well as construction. I hope that my participation in the Adjudication Panel of the International Business Review ASEAN Awards 2022 can open up the horizons for companies based in Brunei. This in turn will become a door-opener for our MSMEs to go beyond our country.”

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