Fiji has over 50,000 registered businesses, with 72 percent potentially classified as MSMEs, a figure that could be higher when considering the informal sector.

Minister for Trade, Micro, Small, and Medium Enterprises Manoa Kamikamica noted the significant contributions of MSMEs to Fiji’s economy over the past three years, providing approximately $190 million in tax revenue, with the Fiji Revenue and Customs Service expecting to exceed their collection targets this year.

Kamikamica says these statistics highlight the importance and stable presence of the MSME sector in Fiji’s economic landscape.

“The goal of increasing the MSME sector’s contribution to the GDP from the current 18 percent to 30 percent within the next decade. Achieving this target involves unlocking the potential of the rural economy and enhancing its connection with the private sector. He stressed the necessity of supporting the private sector, particularly MSMEs, to drive growth, I think we will go along way in terms of our endeavours.”

Kamikamica says the recent budget includes several initiatives aimed at supporting MSMEs, with an estimated allocation of $75 to $80 million.

These initiatives include increased grants through the Ministry of Trade, new cooperative and ecotourism programs, subsidized loans, and tax-free status for indigenous businesses, along with support from other ministries.