Sign up | Log in



 28 July 2008

Brunei: More efforts needed to spur SME growth

Brunei government’s  efforts to reduce red tape for small and medium enterprises and make it easier for them to find financing are still lacking, reported local daily the Brunei Times.

Brnei’s King Hassanal Bolkiah on his birthday last year stressed the importance of spurring SME growth, and called on authorities to ease the way for SMEs, in particular, streamline regulations that hinder SME growth.

But one year later, SMEs feel the situation has not changed, the paper said.

"Banks are still not efficient. There is a lot of repetitive red tape," it quoted an owner of an eatery as saying. Bank rules on SME financing are reportedly still time-consuming, resulting in unnecessary costs for business owners.

Banks, said other businesses, should be more user-friendly, and offer a one-stop information centre for SME financing.

Brunei Times picked Standard Chartered Bank as one of the few finance firms offering services tailored for SMEs.

"Standard Chartered Bank continues to focus strongly on SMEs. This year, we have launched Express Trade, targeted at trade lines and working capital; and with the Internet growing into an increasing need these days, we have also introduced our web bank, Straight to Bank, that allows for companies to conduct their banking at ease online," it quoted Tiew Siew Chuen, Standard Chartered CEO, as saying.




Comment on this Article. Send them to

Letters that do not contain full contact information cannot be published.
Letters become the property of AseanAffairs and may be republished in any format.
They typically run 150 words or less and may be edited

submit your comment in the box below 





1.  Verifier

1. Verifier

For security purposes, we ask that you enter the security code that is shown in the graphic. Please enter the code exactly as it is shown in the graphic.
Your Code
Enter Code

Home | About Us | Contact Us | Special Feature | Features | News | Magazine | Events | TV | Press Release | Advertise With us

| Terms of Use | Site Map | Privacy Policy  | DISCLAIMER |

Version 5.0
Copyright © 2006-2017 TIME INTERNATIONAL MANAGEMENT ENTERPRISES CO., LTD. All rights reserved.
Bangkok, Thailand