The success of small and medium enterprises (SMEs) is essential for the overall prosperity of the country, according to Damend Gounder, chairman of the Fiji Development Bank (FDB). He made these remarks during the 2023 FDB National Small and Medium Enterprise Awards held at the Grand Pacific Hotel in Suva, emphasizing the event’s significance in acknowledging and inspiring the entrepreneurial spirit within the community.
Gounder noted that the FDB has long recognized the vital role that SMEs play in both the economic and social landscape of Fiji. He expressed the bank’s commitment to supporting these enterprises, stating, “The Fiji Development Bank is proud of the role we play, and we quite enthusiastically renew our commitment to these ongoing endeavours.”
He acknowledged the evolving nature of SMEs, which continue to adapt amid technological advancements and various challenges. Gounder highlighted that despite these hurdles, SMEs are progressing and maturing, becoming more inclusive while embracing sustainable practices.
He remarked, “Our future generations are clearly in good hands as these many thousands of interlocked enterprises remarkably serve and protect our economic and cultural interests, but surely, we all still have our critical roles to play.”
President Ratu Wiliame Katonivere supported these sentiments, revealing that the FDB disbursed $40 million to the SME sector last year, underscoring its dedication to the nation’s development.