Inaugural MSME conference opens
WORK to firm up Fiji’s Micro, Small and Medium Enterprises (MSME) which will help formalise the sector is already in progress, with Government’s commitment pledged at the opening of Fiji’s inaugural MSME Conference in Suva yesterday.
“Over the past months we have made great strides on working with consultants on the development of an MSME Act, formulating an alternative option for access to funding, that is, the Access to Capital Bill,” Minister for Trade, Co-operatives, Small and Medium Enterprises and Communications Manoa Kamikamica said in his opening speech at the conference.
Mr Kamikamica said the ministry was also working closely with consultants on the development of Fiji’s first MSME Strategic Plan.
“Just recently the team from the ministry has concluded public consultations for the Access to Capital Bill and most recently the MSME Strategic Plan.”
Mr Kamikamica said there had been a “growing recognition of the important role that the MSMEs play in driving economic growth”, one that Fiji witnessed first-hand during the COVID-19 pandemic.
“Our MSMEs helped spur the country’s recovery by stimulating economic activity. At that time, they provided an avenue for job creation, income generation, and innovation, making them crucial players during times of uncertainty.”
With innovation being the “essence of progress, especially for MSMEs”, Mr Kamikamica said the theme for the conference “Innovation Waves: Sailing MSMEs to Success” was a suitable acknowledgement for Fiji’s MSMEs.
“Creating an enabling environment that encourages innovation is key to the success of MSMEs. Empowering our young and aspiring entrepreneurs to think creatively and take calculated risks can lead to breakthrough innovations that propel their businesses and dreams forward.”
The ministry will be changing its name to Ministry of Trade, Co-operatives, Micro, Small and Medium Enterprises and Communications to officially recognise the ‘micro’ segment of businesses, he said.
The two-day conference is organised by Business Assistance Fiji and its partners, Women in Business (WIB), Fiji Chamber of Commerce & Industry (FCCI), Fiji Institute of Chartered Accountants (FICA), MTCSME representative, SPBD, and Young Entrepreneur Council.