The Fijian government is making significant strides to empower resource owners in its pursuit of economic recovery. Prime Minister Sitiveni Rabuka has outlined a strong commitment to ensuring that these owners are not overlooked during this pivotal time and announced support for more than 837 operational cooperatives, which together boast an estimated asset base exceeding $132 million.
Speaking in Parliament, Prime Minister Rabuka emphasized the importance of formalizing and registering businesses to ensure their growth. He mentioned that the government is dedicated to providing ongoing business advisory and compliance assistance to help resource owners compete effectively in the market, whether they operate as companies, sole traders, or partnerships.
To bolster these efforts, the Coalition Government has launched initiatives such as the Cooperative Development Fund and the Integrated Human Resource Development Program, aimed specifically at offering support to resource owners, particularly in rural and remote areas. These programs have already made notable contributions, assisting in the development of farming, fishing, and renewable energy projects in local communities.
Rabuka further reassured that forming a cooperative is not a prerequisite for resource owners to access funding through the Micro, Small, and Medium Enterprises programs. This opens the door for many individual entrepreneurs who wish to seek assistance without the need for cooperative structures.
This initiative aligns with broader efforts to strengthen cooperatives and micro, small, and medium enterprises (MSMEs) in Fiji. Previous government actions have already led to an impressive uptick in cooperative registration, with numbers soaring from 61 in 2022 to 134 in 2023—a remarkable 73% increase. With a focus on inclusivity and support, the government aims to uplift local entrepreneurs, alleviate poverty, and diversify the economy.
As this movement gains momentum, the commitment to nurturing a vibrant entrepreneurial scene in Fiji is evident. By improving access to funding and critical resources, the government is fostering an environment conducive to sustained economic growth and resilience, promising positive outcomes for both individuals and communities across the nation.
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