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Dialogue brings constructive ideas and suggestions (BB-7/5/07)

THE rapid changes in global business growth have seen co-operatives entity transforms and diversifies their activities to a whole new concept and different approach. Gone are the days when co-operatives are limited to traditional type of activities and they now have taken their strides to new heights in business undertakings to remain sustainable. Co-operatives should be proud of their achievements notably in hotel industry, fisheries, agricultures, transportation and filling station.

This was highlighted during a speech by the Acting Minister of Industries and Primary Resources, Dato Paduka Haji Hamdillah Haji Abd Wahab at a dialogue ceremony with co-operative board of directors’ members which was held at BINA headquarters in Gadong on Saturday (5/5/07).

Dato Hamdillah presidng over the dialogue

He added, co-operative sector in Brunei Darussalam has been recognized as the third most important engine of growth after the public and private sectors in Brunei’s national economy. Therefore, Brunei will continue to undertake efforts to making co-operatives more competitive and grow them into a real and significant contributor to national economy.

To realize this objective, co-operatives must not let their rearguards down by equipping and adapting to the ever changing business. Continuous learning process must be in the minds of every single co-operative to ensure they are fully prepared and proactively adapted to changes. In this context, he pointed out, the Government of His Majesty is continuously supporting co-operatives and SMEs with priority is given to bumiputeras to ensure an effective participation in national economic activities.

In this regards, he said the ministry is lending support for several financial loan scheme, infrastructures, industrial lands, training and education as well as overseas visit offered to both co-operatives and entrepreneurs. Meanwhile, BINA have taken an initiative in stressing the underpinning importance of adhering to laws governing the co-operatives, updated account statement, enhanced co-operative understanding and stick to core principles which must be managed professionally like any other global corporations. Forming strategic alliances with foreign establishments is another area of growth that will lead up to entrepreneurship and business expansion, the acting minister added.

An atendee posing a question (standing)

On the establishment of Brunei National Co-operative Federation (BNFC) which will be launched this year, it would unify and guide all co-operatives from various activities into one united national movement. As an apex organization for co-operatives movement in Brunei, BNFC will champion the aspirations and rights of the movement, propagate co-operative concepts and principles amongst co-operators and Brunei in general through educational programs as well as to assist the development of co-operatives.

A number of subjects were raised during the dialogue in areas of financial support, licensing matters, competitiveness and management issues as well as product exports. Currently, the total number of registered co-operatives with BINA is 204, 160 of them is still registered and 44 have been deregistered. Out of 160 registered co-operatives, 51 (32 %) is operational; non-active stands at 69 (43 %) while not yet operational is 40 (25 %). Based on this figure, MIPR has set its objective to achieve a 60 % target in the number of operational co-operatives by 2010.

The dialogue ceremony was also attended by Deputy Permanent Secretary, Pg Hjh Mariana PDNLRDP Pg Haji Abd Momin, Acting Director of BINA, Pg Sharifuddin Pg Hj Matali, senior officials and co-operative leaders from the four districts. More than 100 people attended the ceremony.