Policies

1. Provide Small and Medium Enterprises (SMEs) with subsidies to minimize the difference between the rich and the poor and to encourage a business environment that will extend more economic benefits to the public.
   
2. Establish an institution and develop human resources required for the development of SMEs within the Food Security sector.
   
3. Create more opportunities for SME participation in the three main industries, tourism, fisheries and agriculture, through the formulation of relevant policies. Assist and facilitate SME participation in agriculture, transport and and infrastructure development sectors.
   
4. Provide technological capacity for SMEs to expedite the growth and development, given that the development of SMEs is crucial to economic progress.
   

Short term goals (1-3 years)

1. Facilitate the growth and development of SMEs through the development of human resources.
   
2. Encourage the participation of women in the SME sector.
   
3. Revive the crafts industry by utilizing modern machinery and facilitate the trade of local souvenirs in the tourist market.
   
4. Give priority to SMEs when awarding regional government contracts.
   
5. Formalize the SME sector and facilitate for the registration of SMEs at the regional administrative centers of the country to further expedite the registration process for the start-up SMEs.
   

Long term goals (1-5 years)

1. Promote local products in the domestic market and facilitate their export.
   
2. Establish a training facility for those wishing to establish and promote SMEs in the Faculty of Management and Computing.
   
3. Facilitate access to low-interest loans for the SME sector and provide technological support training and assist in marketing and promotion.
   
4. Support and develop traditional crafts practices in the atolls.
   

 

• Strategic Action Plan