To assist MSMEs, the government is working to create a complete ecosystem.

The present ecosystem in Fiji is driven by private sector activities with some support from the government. The government’s goal is to create a comprehensive system that will enable people to escape poverty and become part of the mainstream economy.

In order to guarantee that the MSME sector continues to make a substantial contribution to the economy, the Coalition Government will concentrate its efforts over the next six months on completing the strategic plan and creating the ecosystem with the private sector and other stakeholders.

With this strategy, we hope to provide sustained economic growth and development for the people of Fiji by positioning the MSME sector as a viable route out of poverty.

Today’s World MSME Day celebration raises awareness of MSMEs and acknowledges the critical role they play in promoting the expansion and development of an economy. It also offers a stage for showcasing the MSMEs’ tenacity and spirit of entrepreneurship, which, in spite of difficulties, enable them to make a substantial contribution to the regional economy.

In an effort to increase the global contribution of small and medium-sized firms (MSMEs), the United Nations designates June 27 as MSMEs Day each year.

The theme for this year was “Small Business, Big Change,” emphasizing the critical role that MSMEs play in tackling global issues and talking about how to improve their capacity for innovation through supply chain management, business financing, policy-making, and international cooperation.

The ceremony this year took place on Saturday, June 29 at Namosi Secondary School in Namosi. The MSME council members decided to celebrate in Namosi with the idea that they would spread the word to the rural districts.

As the event’s chief guest, Manoa Kamikamica, Deputy Prime Minister and Minister for Trade Cooperatives, Small and Medium Enterprises, and Communications, commended the organizers for making it a wonderful day to get together with various stakeholders and celebrate a very happy day for the people of Namosi.

The presence of the Turaga na Tui Namosi here today, along with the FCF’s visionary and wise decision to bring the World MSME Day to Namosi, enhanced the event, according to Kamikamica.

Today raises awareness of MSMEs and acknowledges the critical role they play in promoting the expansion and development of an economy. It offers a venue for showcasing the MSMEs’ tenacity and spirit of entrepreneurship, which, in spite of obstacles, allows them to make a substantial contribution to the regional economy.

According to the Deputy Prime Minister, “MSME is one of the central pillars, or will be one of the central pillars, of how your government endeavors to grow the economy, diversify the economy, and address the issue of poverty that is well documented in Fiji.”

“Having come from the private sector myself, I have always thought that the government will assist or facilitate the private sector’s leadership, given the proper policy settings. A prime example of such idea is today. They have arranged themselves to concentrate on MSME development through FSAF.

Reaching out to the rural sections is the key to eradicating poverty in Fiji, said Kamikamica.
The theme for today’s MSME Day is utilizing MSMEs’ resilience and adaptability to advance sustainable development and reduce poverty in the face of numerous disasters. It provides a forum for discussions on how to maximize MSMEs’ potential to promote resilient and sustainable development on a national and worldwide scale.

The theme highlights how crucial it is to create MSMEs that can withstand economic shocks, disputes, and other difficulties.

For instance, in Fiji, the problems posed by climate change, rising living expenses, and higher operating costs have put our MSMEs under pressure. However, they have continued to be strong and have quickly adjusted to the dynamic business environment, according to DPM Kamikamica.

The subject also tackles SDG 1, no poverty, acknowledging that MSMEs generate jobs and stimulate the economy in order to promote sustainable development and expansion. MSMEs account for 50% of the world’s GDP, 90% of enterprises, and 60% to 70% of jobs worldwide, he continues.

72% of Fiji’s registered firms might be considered MSMEs, according to data from the Ministry for Trade Cooperatives, Small and Medium Enterprises and Communications. The country has over 50,000 registered businesses overall. If the unorganized sector is taken into account, this might be higher.

MSMEs have contributed significantly to Fiji’s economy over the last three years, bringing in over 190 million in tax income. This year, Fiji income and Customs Services anticipates exceeding its collection expectations.

DPM Kamikamica challenged the stakeholders gathered in Namosi today, personally saying, “We are currently about 18% of the GDP, and I’m hoping that within ten years, we’ll be about 30% of the GDP.”

If we solve some of the puzzles surrounding how to stimulate the rural economy and link it to the commercial sector, then it is feasible. This will be very beneficial to us in our pursuits.

Roughly 75 to 80 million dollars have been granted in terms of MSME efforts, according to estimates from the Ministry of Trade, Cooperatives, SMEs, and Communications. This includes more funding from the Ministry of Trade, fresh cooperative projects, ecotourism, subsidized loans, tax exemptions for Native American-owned enterprises, and assistance from other ministries.

In concluding, DPM Kamikamica expressed his gratitude to the MSME Council (previously the Young Entrepreneurship Council) and the Fiji Commerce and Employers Federation (FCEF).

“The dedicated team behind this initiative should inform you that the government has taken notice of your concerns.

The Deputy Prime Minister said, “We promise to help you as you expand the MSME movement throughout our nation.”