As part of the Brunei Economic Development Board, BEDB’s continuous efforts and priorities in terms of developing the local and medium enterprises or SME’s, a new location for SME Innovation Centre is being inaugurated to provide a base for potential entrepreneurs to run their businesses. BEDB realised that talks about grand plans and visions to promote economic development in this country will have no meaning unless those plans are translated into helping small Brunei businesses to develop and grow. This was stressed by the Acting Chairman of the BEDB during a press conference on the SME’S Innovation Centre, Thursday. Mr. Timothy Ong emphasised that the SME Innovation Centre located at Kampung Anggerek Desa will be a base for promising Brunei Information Technology or IT companies. They will share their premises with established companies and will serve as anchor tenants.

A signing ceremony was also held at the gathering. It was witnessed by the Minister of Communications, Pehin Dato Seri Setia Haji Abu Bakar. The contract for refurbishment was signed between Mr. Timothy Ong representing BEDB and Awang Haji Ahmad Nizam bin Pehin Dato Haji Abdul Wahab representing Arkitek SAA Consortium. Mr. Timothy Ong also signed on behalf of BEDB, a Memorandum of Understanding with a representative of Sun Microsystems Private Limited from Singapore, Mr. Alvin Chia and Tengku Farith Rithauddeen on behalf of SKALI Alam Teknokrat Sendirian Berhad from Malaysia.

The press conference was highlighted with a presentation on the SME Innovation Centre delivered by the Assistant Chief Executive Officer, Business Development, Awang Aziz bin Latip. He talked about the concept of the centre which is based on an incubation model to assist technopreneurs and ICT related companies develop their innovative ideas.

The fishing industry has the potential to contribute towards Brunei Darussalam’s economic diversification to decrease continued dependence on oil and gas. Aquaculture is one of the fast-developing activities of the industry and continues to develop rapidly at par with neighbouring nations. Rearing of fish in cages and prawns in ponds are the country’s main aquaculture industry that was first practiced locally in 1997. Some 30 entrepreneurs are involved in the industry managing some 1,225 cages.

Among such fish-rearing locations are the Waters of Pulau Kaingaran, Tanjong Pelumpong, Sungai Bunga and Buang Tawar. Fish such as Grouper and Seabass reared in Brunei waters have now gain access to international market. One of the Brunei fish-rearing companies can now produce as much as 2,200 Grouper weighing 1.98 tonnes and 110 Seabass weighing 1.5 tonnes for export to Hong Kong. These fish exports fetch 128,700 dollars and 39,900 dollars respectively. The shipment of the caged fish is handled by a trading company from Hong Kong. The Ministry of Industry and Primary Resources has continued to offer such fish-rearing activities to interested parties as part of efforts to expand the industry.