The Integrated Human Resource Development Programme (IHRDP) has recently approved 10 new projects aimed at enhancing the Micro, Small, and Medium Enterprises (MSMEs) sector across Fiji. This initiative is part of a broader strategy to empower communities and promote inclusive growth within the economy.
The Ministry has earmarked 35 percent of the $2 million budget for urban enterprises, while 65 percent is designated for rural and peri-urban communities. This allocation reflects a strong commitment to supporting diverse business environments across the country. In this funding round, the IHRDP received 26 grant applications totaling $3.4 million, of which they contributed $1.7 million. Following a rigorous evaluation process, 19 applications were shortlisted, and ultimately 10 projects were approved for funding.
The government’s support for MSMEs aligns with ongoing measures to stimulate economic development and foster sustainable practices. The collective efforts to promote MSMEs are further emphasized by a reported $120 million allocation across various ministries in the 2024-2025 National Budget, showcasing a unified approach to expanding resources for these enterprises. Last year, 60 percent of the MSME grants focused on women-owned businesses, indicating an ongoing commitment to gender inclusivity in entrepreneurial support.
The recent approval of these projects represents a vital step towards nurturing a resilient economy in Fiji, where MSMEs contribute approximately 18 percent to the national GDP and play a significant role in providing employment opportunities. The positive impact of such initiatives offers hope for future growth and innovation, paving the way for aspiring entrepreneurs to achieve their business goals and drive economic development in their communities. With continued emphasis on fostering local businesses, the future appears promising for Fiji’s MSME sector.