The Fiji Times » Grow SMEs, AG urges

0

Attorney General Aiyaz Sayed-Khaiyum encouraged Fijians to grow and grow their small and medium enterprises (SMEs).

He said this while handing over a 10-wheeler truck to Nadiyata Investment – ​​the trading arm of mataqali Nagaga – in Nadi village of Vatutu on Thursday.

The AG said the truck, which was to be used primarily for siltation purposes, was acquired for $130,000 – where Nadiyata Investment contributed $49,000 while $81,000 was facilitated through a loan from the scheme Fiji Development Bank (FDB) SME.

“They had the opportunity to dredge the river to manage the waterways, but they didn’t have the equipment to do the work,” Mr Sayed-Khaiyum said.

“The collaboration between FDB and the trust is now bearing fruit and we encourage this type of collaboration. The AG said the government was keen to help SMEs by offering them incentives. “Instead of paying the 12.45% interest rate that the FDB charges for these loans, the trust will only pay 6.45% because the government is subsidizing 6% of the loan.”

Mr Sayed-Khaiyum said that in addition to using the truck for dredging two dams along the Nawaka River, the trust could also provide excavation and trucking services to earn additional revenue.

Share.

About Author

Comments are closed.