THE Nadi Chamber of Commerce and Industry says Nadi is already feeling the brunt of COVID-19 pandemic, adding that some businesses may not survive for long.
Chamber president Dr Ram Raju welcomed the tax incentives for businesses which would allow them to continue to employ their staff members and the economy rolling.
“Tax breaks, deferment of loan repayments, rent reductions, Fiji National Provident Fund contributions etc will help the private sector including MSMEs survive this turbulent and unpredictable crisis,” he said.
In its response to the COVID-19 Response Budget, the chamber also welcomed the revival of the Fiji Investment Corporation Ltd which would be managed by the Fiji Development Bank for small and medium enterprises.
Dr Raju said the decision by the banks to offer hardship assistance packages to clients came as a big relief and hopefully would help the business sectors all across Fiji.
“Relief packages as announced, that also includes FNPF contributions for both employers and employees, will probably hold for a while but as the minister has said it’s time for the employers to look after their employees in a reciprocal manner.
“It’s a testing time, once in our lifetime experience, and I would like to implore all the business houses to take heed of the advise. The loyal staff will help you recover eventually,” he said.
The chamber also remains optimistic that landlords and tenants (business) would come to amicable solutions in cases where tenants needed to negotiate rent payments.
According to Dr Raju some business tenants had already decided to close if the rents were not negotiated to a level that they could afford to pay.
“Otherwise we are facing a stark reality of many shops vacated and empty, resulting in job losses etc compounding to worse case scenarios.”
