Mainstreaming MSMEs in the economy is vital: Ali

March 10, 2024 4:31 pm

Increasing the contribution of Micro Small and Medium Enterprises to the national economy gives Fiji several benefits.

Ministry of Trade Permanent Secretary Shaheen Ali says it adds to the resilience of the diversification efforts and also drives our economy towards innovation and digitalization.

Ali says MSME’s can adapt, restructure quickly, and adjust faster to market changes and market demands at a relatively lower cost.

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Ali says it is vital to mainstream MSMEs in the national economy, thereby increasing their contribution.

“Increasing the contribution to MSME’s to our national economy gives us several benefit. It adds to resilience. Smallness is a disadvantage — but it can also be an advantage. That’s what we should focus on. Small businesses adapt, restructure and adjust faster to market demands.”

Ministry of Finance Chief Policy Advisor Neelesh Gounder says the growth of the MSME sector is very important from the perspective of creating a more competitive economy.

Gounder adds the collaborative efforts of the government, industry experts, and MSMEs themselves are poised to create a vibrant ecosystem that fosters a culture of innovation and resilience in the face of global challenges.