News

New equipment to support rural growth

October 21, 2024 5:20 am

[Source: Ministry of Trade, Co-operatives, SMEs and Communications/ Facebook]

The Vurabere Investment Pte Ltd has received a new tipper truck and excavator which will assist in its growth.

The equipment was handed over by Acting Prime Minister and Minister for Trade Manoa Kamikamica marking a significant milestone in rural development.

Kamikamica says the government is committed to empowering iTaukei businesses and supporting rural entrepreneurs.

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He highlights that the challenges faced by micro, small, and medium enterprises and praised Vurabere Investment for their ownership and determination to succeed in the construction industry.


[Source: Ministry of Trade, Co-operatives, SMEs and Communications/ Facebook]

Kamikamica says this investment of $100,000, along with a $108,000 loan secured through the Fiji Development Bank, exemplifies their efforts to promote sustainable economic development in rural areas.

He stresses that Vurabere Investment is a shining example of how limitations can be transformed into opportunities.

The new machinery will enhance Vurabere Investment’s operations, allowing them to increase production and improve efficiency, ultimately benefiting the Nadi community and surrounding regions.


[Source: Ministry of Trade, Co-operatives, SMEs and Communications/ Facebook]

Kamikamica also encouraged other resource owners to follow Vurabere’s example by exploring financing options available through various financial institutions.

He stresses that access to finance remains a primary challenge for MSMEs and reaffirmed the government’s commitment to introducing innovative financing mechanisms.