Ministry says MSMEs contribute 18 pc to GDP

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The Government’s priority was to raise the productivity of MSMEs and to do so by investing in capabilities we need for the future. Picture: MONIKA SINGH

MICRO, small and medium enterprises (MSME) contribute to almost 18 per cent of the total gross domestic product (GDP) of the country and provide about 60 per cent of the workforce in Fiji.

This was highlighted by the Ministry of Trade, Co-operatives, SME’s and Communications chief business adviser for micro, small and medium enterprises (MSME’s) Iosefo Koroidimuri during the University of the South Pacific’s entrepreneurial fair yesterday.

He said youths interested in starting small businesses could now benefit from grants provided by the ministry. Mr Koroidimuri said Government was looking strategically in trying to develop more MSMEs throughout the country, especially among youths.

USP hosted the four-day entrepreneurial fair that was held this week and focused on bringing together successful business owners to share their insights into what it took to start a business.

Mr Koroidimuri said the main purpose of their presentation was to inform students on various ways to run a business.

“Government is always looking at ways to get young people engaged in starting their small business which is why today we wanted to promote the ministry’s grants and programs that are available. He said MSMEs were the engine of economic growth.

“The whole idea was to encourage these skilled young people to start their business, to be job creators rather than job seekers.

“And what better way to start then come and share with the university students and staff programs that are already within the ministry because not many are not aware of it.” The entrepreneurial fair ended yesterday.

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