Koya: 3700 applications for concessional loan approved
MORE than 5000 applications for the Concessional Loan for Micro, Small and Medium Enterprises (MSMEs) have been assessed of which more than 3700 valued at $22.5 million have been approved.
This was according to the Minister for Commerce, Trade, Tourism and Transport Faiyaz Koya, who also mentioned the Fiji Revenue and Customs Service had already disbursed close to $13 million to these MSMEs.
“For the past few months, my team and I have been around Fiji, visiting various industry stakeholders who’ve been severely impacted.
“I acknowledge this is a very difficult time and many businesses and Fijians associated with the tourism industry are suffering.
“But even during this difficult time, we see hope through those who have still laboured on,” he said during the opening of the Tanoa Hotel Group Fiji Trade Show yesterday.
Mr Koya said the ministry was working with the Fijian Government to come up with creative ways to continue the business.
“And this is why we’re here today – to see one of the pioneers of the Fijian tourism industry, Mr
Y.P. Reddy and his team, stage this trade show.
“You’ve continued to keep faith in Fiji, and your potential, as a 100 per cent locally owned and managed company in business for over 50 years.
“We’ve continuously advocated for diversification at all levels, whether it is as individuals, as businesses, or even as industries.”
Mr Reddy’s leadership was acknowledged by the minister, in expanding the current hospitality portfolio into sectors.
These included education, construction and engineering equipment, retail, insurance and real estate, which put them in an even greater position regionally and globally.
“This is a great opportunity for buyers and sellers alike, to discover the latest developments in the industry.”
Mr Koya said they would work tirelessly on creating and sustaining livelihoods for Fijians during this pandemic.