Fiji has failed to adequately support micro, small, and medium enterprises (MSMEs), according to Deputy Prime Minister and Minister for Trade and MSMEs, Manoa Kamikamica. In a pre-budget video released last week, Kamikamica emphasized that the ministry’s budget will primarily focus on growing the MSME sector.
“MSMEs contribute 18 percent of GDP, and I have previously stated that I hope we can increase that to 30 percent over the next five to ten years,” Kamikamica said. “Achieving this will require concerted policy efforts and a clear strategic direction. We are currently developing a strategy for MSMEs, and part of the budget funding will help finalize this strategy.”
Kamikamica noted that since assuming office, he has realized that Fiji has lagged in effectively supporting MSMEs. “Other countries have a comprehensive set of tools to assist MSMEs, and we are working towards building a similar robust ecosystem to support these businesses,” he said.
The Ministry aims to create pathways for MSMEs to expand. “MSMEs vary; some begin as small corner businesses, like juice vendors, and progress to market sellers and eventually shop owners. We are challenging ourselves to create pathways for these small businesses to grow into larger ones. Documented opportunities have shown potential, and we will continue to focus on these areas,” Kamikamica added.