There was a 300 per cent surge in the use of digital technology and online space by businesses during and post-pandemic.
This was according to the Minister for Commerce, Trade, Tourism and Transport Faiyaz Koya during the Confederation of Indian Industry (CII) Partnership Summit.
“Furthermore, the major Telcos have recorded a 2000 per cent growth in digital transactions, within the last 12 months compared to the year before,” he said.
“The digital payment platforms are now processing over $100 million in transactions every month, amounting to $1.2 billion every year.
“We have witnessed the emergence of online service platforms for food and general goods delivery, online art exhibition and auctions, entertainment, consultancy and financial services.”
Mr Koya also said they had seen the agricultural sector moving towards digitalisation to increase efficiency.
This was a clear epitome of the Fijian MSMEs ability to adapt digital technologies, as a tool to transform business models and unlock new revenue streams, as stated by Mr Koya.
“The Fijian Government recognises MSMEs as a critical component of the Fijian economy, as they are key to social cohesion and economic output.
“Fijian MSMEs have proven to be resilient and agile during this pandemic period.”
It was revealed during the first wave of the pandemic in 2020, they undertook a survey of MSMEs.
The survey indicated that approximately 42 per cent of the MSMEs were able to revive and continue their business, provided they were given some form of support by the Government.
