Members Of The Legislative Council Visit BEDB For Dialogue On Enterprise Development And Economic Growth

 Bandar Seri Begawan, 21 July 2025 – The Brunei Economic Development Board (BEDB) today welcomed Members of the Legislative Council for a working visit and dialogue session held at the Workshop Auditorium, Design & Technology Building, Anggerek Desa Technology Park in Berakas. 

The session offered an in-depth overview of BEDB’s mandate, core functions, and strategic programmes aimed at supporting national economic growth and fostering enterprise development. It also served as a platform for policy-level engagement, enabling open dialogue and the exchange of perspectives on key challenges faced by local micro, small, and medium enterprises (MSMEs). 

In his opening remarks, Yang Mulia Daniel Leong, Acting Chief Executive Officer of BEDB, reaffirmed the Board’s commitment to national development, “BEDB is dedicated to building a resilient and diversified economy—one that empowers local businesses, creates high-value employment opportunities, and reduces reliance on traditional sectors.” 

The dialogue commenced with a briefing by Yang Mulia Norlela Suhailee, Director of Enterprise Development (DARe), who highlighted the range of support initiatives offered through BEDB. These include funding schemes, capacity-building programmes, and access to a dynamic entrepreneurial ecosystem designed to support enterprises at all stages of growth. The visit provided Members of the Legislative Council with a better understanding of BEDB’s role in fostering a business-friendly ecosystem. 

During the dialogue, Members of the Legislative Council reiterated their support for enterprise development while highlighting structural challenges affecting the business environment, such as administrative delays, disconnects between policy and on-the-ground execution, inconsistent policy enforcement, and the need for greater coordination and communication, particularly in relation to regulatory changes that impact businesses. 

The importance of empowering local MSMEs in the retail and supply chain ecosystem, improving cost structures through more efficient procurement models, and supporting cottage industries with flexible production spaces was also underscored. 

While acknowledging the wide range of enterprise support initiatives currently underway, Members of the Legislative Council emphasised the importance of enhancing outreach and accessibility to ensure that more businesses are able to fully benefit from available programmes. Although the primary focus of the dialogue session was on MSMEs, they also recognised the critical role of Foreign Direct Investment (FDI) in Brunei Darussalam’s long-term economic diversification and expressed interest in seeing stronger local participation within FDI-driven value chains. 

In response, BEDB reaffirmed its dual-track approach to enterprise development, addressing immediate concerns raised by individual businesses, while working collaboratively with stakeholders to strengthen the overall ecosystem. BEDB also shared that efforts are underway to enhance enterprise support, improve market access, and expand opportunities for local participation in strategic sectors. 

The constructive discussions and exchange of insights further underscored the shared commitment between national policymakers and BEDB to advancing Brunei Darussalam’s economic future. Feedback gathered during the session will help refine enterprise support initiatives and ensure alignment with national priorities under Wawasan Brunei 2035.