The prosperity of small and medium enterprises (SMEs) is vital to the economic well-being 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, which took place at the Grand Pacific Hotel in Suva. Gounder described the event as a celebration of recognition, engagement, and inspiration for the entrepreneurial community.
Gounder emphasized the significant role SMEs play in both the economic and social spheres of Fiji. He reaffirmed the FDB’s dedication to supporting these enterprises, noting that they are evolving amid technological advancements and various challenges.
“SMEs are not only progressing but also becoming more inclusive while operating on environmentally sustainable platforms,” Gounder stated. He expressed confidence that the future is bright, as these interconnected enterprises are crucial in safeguarding the country’s economic and cultural interests, while also stressing the importance of collective responsibility.
Additionally, President Ratu Wiliame Katonivere acknowledged FDB’s substantial support for SMEs, highlighting that the bank had allocated $40 million to the sector last year. This funding reflects FDB’s commitment to advancing the nation’s development.