Fijian businesses are urged to participate in a survey by the Ministry of Commerce, Trade, Tourism and Transport (MCTTT) and the International Finance Corporation (IFC), to understand the economic impact of COVID-19 on the private sector and find practical solutions.
The coronavirus outbreak is causing an unprecedented global economic slowdown. The impact is felt across the entire global value chain, with micro, small and medium-sized enterprises (MSMEs) being at the forefront of long-term economic and social ramifications.
The Fijian Government understands that the economic crisis brought on by the COVID-19 pandemic has severely impacted businesses across Fiji. In this regard, the Ministry of Commerce, Trade, Tourism and Transport (MCTTT) and the International Finance Corporation (IFC) are partnering to conduct a brief survey on the impact of the pandemic to the wider Fijian business community.
Permanent Secretary for Commerce, Trade, Tourism and Transport, Shaheen Ali, stated that the MCTTT is working very closely with the various industries and Government agencies to get a fair assessment of immediate on the ground impact in order to devise policy redress and incentives.
“The uncertainty of the situation globally and nationally in itself presents a challenge, which was exacerbated by TC Harold. We have made best endeavours to speak to our industry partners to understand how best we can curb the impacts. Without complacency, we want to keep the conversation real time and hear from businesses. Irrespective of how big or small the operation, everyone should have a say.”
He further urged businesses across-all-sectors to participate in the survey to assist in the upcoming budgetary process, which has commenced, for the next financial year. The information will also form an important basis for Fiji’s development partners to engage with Fiji.
The survey will assess the overall impact of the crisis and TC Harold on businesses, what is and could be done to adapt in the short, medium and long term, what changes are being made and can be made to ensure business continuity, recovery and growth.
“COVID-19 has affected all economies in the world and the private sector has suffered greatly with some even going out of business,” IFC country representative to Fiji, Samoa, Tonga Kiribati and Tuvalu, Deva De Silva said.
“We will need to be innovative and creative, we can do that in Fiji if we know what the businesses are facing and what their key priorities are. The most important objective of this survey is to hear directly from business sector.” IFC’s work in Fiji is supported by the governments of Australia and New Zealand under the Fiji Partnership.