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 this statement during the 2023 FDB National Small and Medium Enterprise Awards held at the Grand Pacific Hotel in Suva on Thursday. Gounder described the event as one of recognition and pride, aimed at rekindling commitments and inspiring entrepreneurial spirit.
He emphasized the important role that SMEs play in the economic and social landscape of Fiji. “The Fiji Development Bank is proud of our role, and we happily renew our commitment to supporting these efforts,” Mr. Gounder stated. He acknowledged the ongoing evolution of SMEs in the face of technological advancements and increasing challenges.
“Despite the difficulties, they have not only progressed but have also embraced greater inclusivity while adopting more sustainable practices and infrastructures. Our future generations are in capable hands as these thousands of interconnected enterprises work to safeguard our economic and cultural interests, but we all have significant roles to play,” he added.
President Ratu Wiliame Katonivere noted that FDB has been a strong support for SMEs, having distributed $40 million to the sector in the previous year, demonstrating the bank’s commitment to the nation’s progress.