Small and Medium size Entrepreneurs (SME) development is essential for the development of the vibrant economy. Hence, MNCCI takes a special initiative to the growth of SME in the Maldives.
A special unit has been developed in collaboration with Ministry of Trade and Economic Development by the name, Business Link, equipped with a library, a small meeting room with qualified personnel to assist and guide with policies, proposal and document preparation.
MNCCI takes a special initiative for the Development of MSME. The biggest hurdle for the Maldivian businesses is raising finance and lack of SME or Micro finance and has been the biggest barrier for the development of MSME especially for the rural women.
To overcome these barriers MNCCI has undertaken to assist the existing MSMEs especially in the very rural community. the program has the following advantages;
No interest or Administrative charges.
No collateral or security.
We provide assistance to business in the form of marketing and Managing.
This MSME development program is to be showcased and to be presented to the Maldivian and international financial institutions to convince them to lend MSME's for their performance, competence and their business proposal rather than lending only for huge collateral assets.
Resolutions.
1- To form a small and Medium Enterprises (SME) Promotion Cell, hear in after referred as (SME-PC), within Maldives National Chamber of Commerce and Industries. And mandate SME Promotion Cell (SME-PC) to Plan, Coordinate and Implement as follows:
- To promote following three industries as the SNE pilot projects from 2010 to 2012
- Aqua-culture initiative
- "Feyli" initiative
- Local food products packing and marketing initiative.
- To implement a branding initiative for Authentic Maldivian Products. And to Develop a certification stamping system to affix on locally produced items to facilitate product promotion and marketing.
- To elect the following Board Members to the SME Promotion Cell of MNCCI as Executives of the cell.
- Mr. Ismail Asif- Chairman.
- Mr. Mohamed Zahir Mahmood- Planning Executive.
- Ms. Sofoora Kawsar Usman- Coordinating Executive.
- Mr. Ahmed Adheeb Abdul Qafoor- Project Executive.
Maldives National Chamber of Commerce and Industry MSME Promotion Cell has been launched on 22nd of April 2010 in a ceremony held at Islamic Centre Conference hall. The cell was officially inaugurated by the Guest of Honor of the ceremony Hon. Minister of Tourism Dr. Ahmed Ali Sawad. Speaking at the ceremony Minister highlighted the importance of such a cell to strengthening the economy and to assist the new government’s economic policies to open up the economy.
The chairman of the MSME-PC Mr.Ismail Asif spoke about the functions of the Cell at specific as follows, the immediate projects of the cell would include promotion of Aqua-culture initiative, “Feyli” Hand looming initiative, local food products packing and marketing initiatives and to implement a branding initiative for Authentic Maldivian Products.
Treasurer of MNCCI Mr.Ahmed Adheeb Abdul Qafoor also shared his experience from JICA training courses on SME development and how they have contributed MNCCI in introducing the cell.
The ceremony was also attended by members from MNCCI local and international affiliations: including Resident Representative of Japan International Co-operation Agency Mr.Makoto Nonobe, Ministry of Human Resources Youth and Sports, senior officials from UNDP, Maldives Pool Billiard Association,Junior Chamber International Maldives, United Artist of Maldives and owners of various SMEs.
