BANDAR SERI BEGAWAN (Xinhua): Brunei has announced the establishment of the BizBelia scheme, giving opportunities to local youth entrepreneurs to obtain financial resources, official media reported.
The initiative aimed to stimulate the growth of local youths' enterprises, while encouraging financial institutions to facilitate the involvement of more youth entrepreneurs.
His Majesty Sultan Hassanal Bolkiah, Sultan and Yang Di-Pertuan of Negara Brunei Darussalam, expressed strong hopes that youth will fully utilise the newly established Shariah-compliant micro-financing scheme to jointly propel the nation’s economic growth.
The monarch said the scheme offers local youth entrepreneurs access to financial resources from Brunei’s financial institutions.
Sultan Hassanal hopes it will stimulate the growth and development of youth enterprises and set an example for other financial institutions to involve youth more actively.
With proper guidance and robust support from relevant parties, the Ruler is confident that youth entrepreneurs will shine not only nationally but also on the international stage.
He voiced these views in a titah at the 20th National Youth Day on Saturday (Aug 16).
The present generation of youth, the monarch noted, possesses a strong spirit and great leadership potential.
The positive transformation shown by the youth signals their willingness to shoulder the heavy responsibilities of leadership, a key element in Realising Brunei Vision 2035.
He added that the government remains committed to empowering youth and providing a conducive environment for their growth.
In pursuing Wawasan Brunei 2035, youth are pivotal as Drivers of Economic Transformation.
Sultan Hassanal welcomed the shift in mindset from job seekers to job creators through entrepreneurship and business ventures.
Acknowledging the challenges in obtaining financing to start a business—particularly for youth who lack business performance records or collateral— Sultan Hassanal announced the establishment of BizBelia, a Shariah-compliant micro-financing scheme for youth entrepreneurs.
The scheme results from a strategic collaboration between the Ministry of Culture, Youth and Sports (MCYS) and Bank Usahawan Berhad.
