Government has committed nearly $120million to support micro, small and medium enterprises (MSME) growth and development in the 2024–2025 National Budget.
While officiating at the St Pius Paris Community Fun Day and Bazaar in Raiwaqa, Suva yesterday, Trade Minister Manoa Kamikamica told those present that this commitment spanned across all ministries.
Mr Kamikamica said the funds included free loans with a three-year interest subsidy through Merchant Finance, which aimed to support the development of iTaukei resource owners and investment by provincial holding companies.
He said this also included the Graduate Business Start-Up Grant Scheme, which would provide final-year tertiary students with training to set up their own businesses.
Mr Kamikamica said the introduction of the Micro Qualification Grant was a new initiative that offered unemployed youth opportunities for competency-based training.
He also said the ministry had seen a 38 per cent increase in its budget, which amounted to $3.6m.
“This increase is to support more MSMEs across various areas, whether they are exporters, part of the service sector, involved in rural development, or young entrepreneurs,” he said.
“We have also established the first MSME information hub at the Suva Flea Market.
“Business Assistance Fiji and the Fiji Development Bank have also joined us as partners.”
- Fiji Times
