Bruneian businesses must strengthen their capabilities and competitiveness to secure higher-value work and benefit more directly from major investments, Deputy Minister of Economy, Trade and Industry Datin Seri Paduka Dayang Hajah Tutiaty binti Haji Abdul Wahab said.
Speaking at the opening of Enterprise Growth Connect (EGC) 2026 at The Empire Hotel on Wednesday, she said economic diversification must translate into stronger local enterprises, better opportunities for the workforce and greater participation in industry supply chains.
She said attracting investment and increasing economic output were not enough, with lasting value depending on how investments developed local capabilities, created quality opportunities and enabled Bruneian companies to undertake more specialised work.
“The aim is not simply to increase the number of local suppliers. It is to develop competitive and dependable Bruneian companies that can meet industry standards, undertake higher-value work and eventually compete beyond the domestic market,” she said.
Datin Seri Paduka Hajah Tutiaty, who is also Deputy Chairman of the Brunei Economic Development Board (BEDB), said closer links between major investments, industry development and local businesses were needed to help companies supply goods and services, acquire expertise and build partnerships.
She stressed that the government, major industry players and local enterprises shared responsibility for expanding local participation.
While the government would continue strengthening the environment for investment and enterprise growth, major industry players could help by providing early information on future demand, communicating supplier requirements, identifying local sourcing opportunities and supporting suppliers in developing the capabilities needed to enter their supply chains.
Local businesses, meanwhile, must invest in their workforce, improve operations and meet industry standards to compete effectively.
The two-day EGC 2026, themed “Advancing Capabilities. Unlocking Opportunities”, brings together industry stakeholders and local businesses to help enterprises understand market demand, establish relationships with potential clients and identify the capabilities required to secure future contracts.
Datin Seri Paduka Hajah Tutiaty said that while Bruneian suppliers already had an established presence in the oil and gas sector, the next priority was to help more companies move into specialised and higher-value activities.
This would require stronger technical capabilities, industry certifications and opportunities to gain experience in more complex work.
SOURCE/AUTHOR : BORNEO BULLETIN
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