The Integrated Human Resource Development Programme (IHRDP) has recently greenlighted ten new projects aimed at bolstering the Micro, Small, and Medium Enterprises (MSMEs) sector throughout Fiji. This initiative is part of a broader effort to empower communities and foster inclusive economic growth.
In this round of funding, the Ministry has allocated 35 percent of the $2 million budget for urban enterprises while dedicating 65 percent to rural and peri-urban areas. This distribution underscores a dedicated approach to supporting various business environments nationwide. In total, the IHRDP received 26 grant applications totaling $3.4 million, contributing $1.7 million to selected projects. A thorough evaluation process resulted in the approval of ten projects from 19 shortlisted applications.
The government’s support for MSMEs dovetails with ongoing initiatives to stimulate economic development and promote sustainable practices. This commitment is further highlighted by a reported allocation of $120 million across various ministries in the 2024-2025 National Budget, clearly demonstrating a unified strategy to enhance resources for these enterprises. Notably, last year, 60 percent of the MSME grants were directed to women-owned businesses, reinforcing a commitment to gender inclusivity in entrepreneurial support.
The approval of these projects marks a significant milestone in nurturing Fiji’s economy, where MSMEs contribute approximately 18 percent to the national GDP and play a crucial role in job creation. The positive outcomes of such initiatives inspire optimism for future growth and innovation, encouraging aspiring entrepreneurs to pursue their business ambitions and contribute to economic development within their communities. With a continued focus on supporting local businesses, the outlook for Fiji’s MSME sector is indeed promising.