There has been a 300% increase in the use of digital technology and online space by businesses during and after the pandemic.
This was stated by Minister of Commerce, Trade, Tourism and Transport Faiyaz Koya at the Confederation of Indian Industry (CII) Partnership Summit.
âIn addition, the major telecom operators have seen a 2,000% growth in digital transactions in the past 12 months compared to the previous year,â he said.
âDigital payment platforms now process more than $ 100 million in transactions each month, amounting to $ 1.2 billion per year.
âWe have seen the emergence of online service platforms for food and general merchandise delivery, online art exhibitions and auctions, entertainment, advisory and financial services. “
Mr Koya also said that they have seen the agricultural sector move towards digitalization to increase its efficiency.
This was a clear example of the ability of Fijian MSMEs to adapt digital technologies, as a tool to transform business models and unlock new sources of income, as Mr Koya said.
âThe Fijian government recognizes MSMEs as an essential component of the Fijian economy, as they are essential for social cohesion and economic production.
âFijian MSMEs have proven to be resilient and agile during this time of pandemic. “
It was revealed during the first wave of the pandemic in 2020, they undertook a survey of MSMEs.
The survey indicated that around 42 percent of MSMEs were able to restart and continue their activities, provided they received some form of government support.