Strengthening support for Micro, Small and Medium Enterprises through improved policymaking and closer coordination between Government and partners is the key focus of the Knowledge Exchange and Workshop on Supporting SME Development.
Assistant Minister for Commerce and Business Development, Sachida Nand, highlights that prior to COVID-19, MSMEs contributed 80 percent to Fiji’s Gross Domestic Product and employed close to 60 percent of the national workforce.
He adds that MSMEs account for over 80 percent of all registered businesses in the country, reflecting their vital role in sustaining livelihoods and building community resilience across the islands.
Meanwhile, World Bank Group Senior Operations Officer Suzy Yoon stresses the World Bank aims to reduce poverty while promoting a liveable environment, particularly as Pacific Island countries face climate and geographic challenges.
Yoon says the Bank encourages evidence-based decision-making through consultations with communities that understand their local conditions best, integrating this input into systems that track progress and allow adjustments when outcomes fall short of expectations.
Embassy of the Republic of Korea in Fiji Acting Ambassador Myongjun Kim said he hopes the event will provide an opportunity to showcase Pacific culture and industries to the Korean public.
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