Economic diversification crucial for MSME development

May 19, 2024 7:44 am

[File Photo]

The government stresses the critical role of economic diversification in supporting the development of micro, small, and medium enterprises (MSMEs) in the country.

This was highlighted by Minister for Trade, Cooperatives, Small and Medium Enterprises Manoa Kamikamica while speaking at the Fiji Enterprise Engine (FEE) Graduation this week.

This week, 12 members of the first-ever West Cohort in MSMEs officially graduated.

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Kamikamica says since the FEE pilot cohort in 2019, they have made direct investments of over $80,000 to support this initiative.

He adds that young entrepreneurs are a critical part of re-engineering and rebuilding the economy to unlock resources and grow new industries.

“We have received feedback from the participants stating that because of the FEE program, we have now registered our business; because of the FEE program, we are remodelling our businesses from social enterprises to commercial enterprises; and because of the FEE program, we now have a vision and a mission for our businesses.”

FEE offers comprehensive training encompassing vital areas such as strategic management, human resources management, accounting and financial management, and marketing.