Small firms find feet
15 March, 2018, 12:00 am
ABOUT 97 per cent of micro, small and medium enterprises (MSMEs) are established business in Fiji, says Minister for Industry and Trade Faiyaz Koya.
Mr Koya confirmed this while responding to a question raised by Government MP Dr Brij Lal in Parliament last week.
Dr Lal requested for a further elaboration on Fiji’s need to leverage trade and investment to foster the integration of SMEs into international trade and global value chains.
Mr Koya said the MSMEs contributed 12 per cent to Fiji’s GDP.
“It is common knowledge that micro, small and medium enterprises (MSMEs) are the backbone of an economy,” he said.
“MSMEs constitute approximately 97 per cent of established businesses in Fiji, and their contribution to GDP is conservatively estimated to be 12 per cent. The majority of these MSMEs are concentrated in the primary, retail and service sectors.”
Mr Koya confirmed efforts were being made to foster the integration of MSMEs into international trade.
“A very good example is in the tourism sector where a number of primary MSMEs are supplying their produce to international hotel chains. Tourism is our largest foreign exchange earner and having our “Fijian Grown” produce feature regularly on the menus at our resorts and hotels will further promote our “Fijian Grown” brand internationally.
He said the ministry had facilitated the sale of “Fijian Crafted” products in the major tourist retail outlets such as Prouds, Jack’s of Fiji and Tappoo.