[Source: Faiyaz Koya / Twitter]

Businesses have saved at least $3.5 million in direct savings costs, following the removal of business licenses.

Commerce and Trade Minister Faiyaz Koya highlighted this during a Business Forum in Sydney, Australia.

He says since 2017, they have been progressively removing unnecessary requirements and fees for business registration.

Koya says they will continue to improve business and investment climate.

He also adds in addition to these improvements, from 1st August, investing in Fiji will become way easier than before as the new Investment Act 2021 will come into effect.

This will mean that foreign investors no longer require a foreign investment registration certificate.

Koya says the reinvigorated approach is streamlined and user-friendly.

He adds Investment Fiji will provide policy advocacy and after care services, allowing investors to adjust to the investment environment.

The Commerce and Trade Minister says it has been the consistency of policies and strategies that have seen businesses continue to establish a presence in Fiji and investor confidence increase.