The Fiji Development Bank (FDB), in partnership with the Ministry of Trade, Co-operatives, Small and Medium Enterprises, and Communications, recently provided essential machinery to two local companies in Nadi that are owned by resource owners. The donation included a truck and an excavator for Vurabere Investment Pte Limited, alongside another excavator for Tokatoka Namara Development Pte Limited.
In a statement released by FDB, the bank highlighted that these companies, which specialize in sand and gravel extraction, are now better equipped to enhance their operations thanks to financial backing from the FDB and supplementary funds from the Ministry’s Integrated Human Resource Development Programme (IHRDP).
FDB’s acting CEO, Titilia Vakaoca Kamil, emphasized that the new machinery will empower local businesses to have better control over their resources, leading to cost reductions and the creation of vital job opportunities in their communities. She stated, “This is a strong step towards greater self-reliance and a growth mindset, and we’re proud to be a part of it.”
The handover, which marked the significance of the collaboration between FDB and the trade ministry, was led by Minister for Trade Manoa Kamikamica. He underscored FDB’s commitment to supporting local resource owners and businesses. A representative from Tokatoka Namara Development shared excitement about the improvements the new excavator would bring, stating it will allow for better cost management and operational expansion.
The event, held at Dratabu and Maqalevu, attracted approximately 40 attendees, including local stakeholders and representatives. Mohammed Jaffar, the manager of FDB’s Nadi Branch, was also present to share insights about the bank’s ongoing support for businesses across Fiji.
FDB reiterated its dedication to collaborating with local enterprises and government bodies to foster economic growth and sustainability. Kamil encouraged businesses to reach out to the bank through its various branches or via email for any inquiries. “Our vision is to provide robust services to sectors and enterprises that contribute to the sustainable development of the Fijian economy,” she concluded.
This development marks a significant advancement for resource-owned businesses in Fiji, showcasing how strategic partnerships can facilitate growth and promote local enterprise potential.
In a broader perspective, these initiatives reflect a hopeful trend towards strengthened local economies and a more sustainable future for communities in Fiji.
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