SUNBIZ

$2.2m Under National Export Strategy Handed Over To 19 Companies

Nineteen companies yesterday received approximately $2.2 million from Government under the National Export Strategy grant for export support. These companies are being assisted for the upgrading of infrastructure, procurement of
14 Nov 2015 10:30
$2.2m Under National Export Strategy Handed Over To 19 Companies
Minister for Industry, Trade and Tourism Faiyaz Siddiq Koya and Permanent Secretary Shaheen Ali with the 19 recipients of the National Export Strategy grant yesterday at the Grand Pacific Hotel Photo: RAMA

Nineteen companies yesterday received approximately $2.2 million from Government under the National Export Strategy grant for export support.

These companies are being assisted for the upgrading of infrastructure, procurement of value adding machines and equipment and in addressing supply side constraints faced by the exporters.

The cheques were handed over by the Minister for Industry, Trade and Tourism, Faiyaz Siddiq Koya, at Grand Pacific Hotel in Suva.

Mr Koya said it was very encouraging that this year the Ministry received 54 applications, totaling to $13.7 million – which is the largest number of applications received to date.

“This is a clear indication of the growing awareness and understanding of the Fijian Government-led initiatives,” he said.

“It is also evidence that Fiji’s export base is growing and not just for the traditional products but a range of new products.

“The National Export Strategy Committee undertook rigorous screening and assessment of the applications and a total of 19 companies’ qualified, meeting all the criteria set out this year.”

Mr Koya said they are confident these companies would work towards increasing the competitiveness of our Fijian made products and commodities internationally.

 

The strategy

The National Export Strategy has entered its ninth year of existence.

Mr Koya said the Fijian Government, through this programme, has successfully supported businesses to achieve their goals of venturing into the international market.

The strategy was established with the purpose to achieve sustainable economic growth by encouraging competitiveness, value addition and export diversification in areas where there are competitive advantages.

It used to cover 13 sectors, however, the Fijian Government in 2007 further refined the strategy to focus on six priority sectors, namely Agro Business, Forestry, Fisheries, Mineral Water, Audio Visual and ICT.

 

Success Rate

The assistance given yesterday brought the number of project assisted to over 77 and the total value of assistance provided is approximately $11.3 million.

Permanent Secretary for Industry, Trade and Tourism, Shaheen Ali, said out of all the projects they have assisted, their success rate has been over 97 per cent.

He told the 2015 recipients that Government wants them to ensure this success record continues.

“The aim is, through this assistance. We want your exports to increase, your profits to increase, more people are get employed in your organisation and your businesses grow,” he said.

“This is a clear illustration of the Fijian Government’s commitment to providing exporters added leverage to achieve their plans to increase their exports.

“The National Export Strategy is essentially, a boost to an exporter’s ability to increase their current export capacity or venture into new markets.”



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