The Cabinet, on Thursday, decided to implement the government's Small and Medium Enterprise (SME) policy.
The Cabinet discussed the proposals made by the Ministry of Economic Development for the policy, at a meeting held on Thursday.
The implementation of this new policy will bring changes to the current procurement and duty policy. The policy dictates that government, private party and state organisation bids which amount to less than MVR 2.5 million, must give priority to small and medium businesses.
The arrangement imposes government-led training programmes for staff of medium enterprises. They will also receive point-of-sale (POS) systems at low rates.
In addition, the quality of services the government provides to medium businesses will be improved, while settlement of invoices will be made more efficient.
Under the policy, the government will also confer special recognition awards to businesses.
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