News From : DagangHalal.com (04 Mar 2010)
Bandar Seri Begawan – As one of the initiatives to assist Small and Medium Enterprises (SMEs), the Ministry of Industry and Primary Resources will be introducing a new financial loan assistance called “Export Refinancing Scheme”.
The loan will come with a maximum limit of half a million dollars for each borrower to help SMEs to step into the international export market.
The new initiative was revealed by Pengiran Hajah Mariana binti Pengiran Dipa Negara Laila Diraja Pengiran Hj Abdul Momin, the Deputy Permanent Secretary of Industry and Primary Resources, in her welcoming address at the 2nd SME Halal workshop yesterday.
She said the Export Refinancing Scheme will be extended to a number of commercial banks and will offer a maximum loan of $500,000 for each borrower.
She highlighted, “It is hoped that the loan can help facilitate and assist in building local companies to move and break into the export markets.” The Export Refinancing Scheme will be introduced this month, the Bulletin was told.
On the global Halal food industry, Pengiran Hajah Mariana said, “The industry is one of the fast growing businesses in the world with an estimated US$560 billion market per year, especially when the Muslim population is expected to reach two billion.”
Therefore, she pointed out, “The demand for services related to the manufacturing of Halal products is expected to increase globally. In addition, the industry that stresses the importance of hygiene, freshness and free from contamination in each phase of production has also attracted the attention of non-Muslims.”
“Brunei Darussalam’s background of holding strong Islamic faith with the philosophy of Malay Islam Monarchy (MIB) sees that the endeavour of producing Halal food is a beneficial business opportunity. Toward this, the Ministry of Industry and Primary Resources has already taken long-term strategic steps.
“Among the initiatives that are currently implemented are the building of the Brunei Halal Brand, construction of the Halal Science Centre and the establishment of the Ago Technology Park,” she said.
“It is hoped that the projects will become a platform for Small and Medium Enterprise entrepreneurs to explore bigger business opportunities, especially in the field of Halal food product manufacturing and exports,” she added.
Efforts are also being made to attract foreign direct investment to the county to develop the halal products manufacturing industry and related support services industry, she said.
“The first phase of the Ago Technology Park is expected to be completed by year 2012 and will create 2,000 employment opportunities for technical and skilled workforce.”
She also disclosed that in a joint effort, the Ministry of Industry and Primary Resources, Ministry of Religious Affairs and Ministry of Health have came up with a set of guidelines for Halal pharmaceutical products, traditional medicine and health supplements.
This will further increase the chances of commerce and trade in the local and international Halal industry. The second SME Halal workshop organised by the Entrepreneurial Development Centre entitled “Preparing SMEs for the Global Halal Market” is geared to help local entrepreneurs to further understand the opportunities in the international Halal markets.
Awang Effandi bin Hj Salleh, Head of Entrepreneurial Development Centre, in his remarks recalled the 1st Halal SME Workshop on May 2009 where the discussions focussed on opportunities in local, regional and global Halal markets. “The workshop managed to gather useful information on the challenges faced by SMEs in exploring overseas markets.
The suggestions have been discussed in a dialogue with various government agencies.” As a follow-up, the suggestions will be combined with the outcome of this second workshop to prepare an integrated action plan for further assessment and action can be taken with the cooperation of various agencies.
Around 100 participants consisting of potential and export-ready SMEs as well as participants from various associations and government agencies joined the workshop. — Courtesy of Borneo Bulletin