Business

Ministry monitors MSME assistance

August 20, 2023 12:45 pm

The Ministry of Trade, Co-operatives, and Small and Medium Enterprises is taking a stringent and targeted approach towards fulfilling MSME needs.

Permanent Secretary for Trade Shaheen Ali says this is to ensure that there is coordination and coherence to avoid any duplication.

He adds the Ministry is keeping tabs to ensure there is no wastage in the resources that have been allocated towards MSME development.

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“So, in each of the programs now under the Ministry of Trade, and I’m sure with other ministries as well, resilience and sustainability are part of the matrix and the training we provide, and we also ensure that this is incorporated in the business model as well.”

Ali also emphasized the need to achieve goals set for MSMEs.

“What we also need is better data, as part of the ministry, so that the support services that we provide to MSMEs are more measured and more targeted.”

Meanwhile, Minister Manoa Kamikamica says they are working on a framework that will chart a roadmap to improve MSME contributions to GDP, as they currently contribute 18%.

Kamikamica adds that innovative approaches are needed to foster sustainable practices, drive digital transformation, and unlock new opportunities for growth.

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