BANDAR SERI BEGAWAN

Saturday, August 7, 2010

THE Ministry of Industry and Primary Resources (MIPR) yesterday announced the introduction of national awards for small and medium enterprises (SMEs), recognising their achievements in a bid to strengthen their role in the country’s development.

“In recognising the importance and important role played by SMEs as the backbone in together building Brunei Darussalam’s economy, His Majesty the Sultan and Yang Di-Pertuan of Brunei Darussalam has consented for MIPR, in collaboration with the Brunei Economic Development Board (BEDB), to hold for the first time the SME National Awards,” the MIPR said.

The awards are expected to be held every two years, in conjunction with Brunei’s National Day, which falls on February 23. The date for the awards have yet to be finalised but the ministry plans to hold the inaugural awards next year in February.

There are four categories of awards to be won, based on the size and sales of the SMEs. These are the:

SME Award for the Most Outstanding Enterprise (annual sales more than $10 million per year);

SME Award for the Most Outstanding Medium Enterprise (annual sales between $5 million and $10 million per year);

SME Award for the Most Outstanding Small Enterprise (annual sales less than $5 million per year); and

SME Award for the Most Outstanding Enterprise Supporting the oil and gas Sector.

Among the awards’ objectives was to identify local operators who have achieved excellence in the business sector and have contributed to the development of the nation’s economy, under the SME profile, the ministry said yesterday.

It also hoped to further cultivate the entrepreneurial spirit among local operators to be more competitive and proactive in developing and strengthening their businesses.

The awards would also become a national benchmark for local operators to gauge their businesses against those who have already achieved success, the statement said.

Award winners can also capitalise on it as a platform to compete regionally and internationally.

The national awards would raise public awareness of the important role SMEs play in contributing to the national gross domestic product.

More details are expected to be divulged during a soft launch of the SME National Awards Brunei Darussalam tomorrow at MIPR’s Dewan Setia Pahlawan with its Minister Pehin Orang Kaya Seri Utama Dato Seri Setia Hj Yahya Begawan Mudim Dato Paduka Hj Bakar officiating at the event.

Further enquiries and application forms can also be requested from the awards’ secretariat at the ministry at Old Airport, the Entrepreneurial Development Centres in Kg Sinaut and Kg Anggerek Desa or at the BEDB in Jalan Ong Sum Ping.

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