Riya Mala 
[Photo: SUPPLIED]
The Government is aiming to more than double the contribution of Micro, Small and Medium Enterprises to the economy, targeting an increase from the current 18 percent of Gross Domestic Product to as much as 40 percent over the next five years.
The ambitious target forms part of ongoing efforts to strengthen the MSME sector and position small businesses as a key driver of inclusive and sustainable economic growth.
The Ministry of Commerce and Business Development says the target will be supported through the implementation of the MSME Strategic Plan 2025-2030 and the MSME Portal, which was launched last year.
According to the Ministry, the reforms are aimed at streamlining service delivery, improving access to support programmes, strengthening coordination among stakeholders, and enhancing data-driven decision-making across the sector.
In addition, work is underway on an MSME Services Database that will provide entrepreneurs with easier access to grants, advisory services, and market opportunities through a single digital platform.
