MSME Council to be established
July 5, 2016 12:01 am
The Micro and Small Business Enterprises sector is expected to contribute 15% towards the Gross Domestic Product.
Trade and Investment Minister Faiyaz Koya during his budget address told the parliament that all future MSME development will be governed by the MSME Policy Framework.
Under the Framework a MSME Council of Fiji will be established that will be chaired by the Prime Minister and comprise of relevant ministers.
“The allocation of $300, 000 in the budget will assist in the establishment of an APEX body that will be governed by the National Council. This will provide much needed stewardship and policy directions to address the shortcomings and propel the development of the MSME sector in Fiji by ensuring that appropriate legal and institutional frameworks are in place.”
Koya says the proposed APEX body will consolidate all the programs and projects related to the MSME sector and address common issues such as access to finance, market access and capacity building.
The government has to date empowered over 5,800 Fijians to venture into business.