Fiji’s investor confidence remains high: Kumar
May 10, 2019 12:14 pm
Industry and Trade Minister Premila Kumar at the Fiji-USA Business Council AGM [Source: Fijian Government]
Investor confidence in Fiji remains high with over 25% contribution to the GDP says Industry and Trade Minister Premila Kumar.
Speaking at the Fiji-USA Business Council AGM last night, Kumar revealed the U.S investment projects implemented from 2012 until last year stands at around $366 million, which created over 2800 jobs.
Kumar says Fijians are also starting their own businesses and as a result, unemployment has been the lowest in 20 years.
She informed the delegates that Fiji has the best investment incentives in the region and compares competitively at the global level.
“We have the lowest corporate taxes, streamlined income tax and the ability to get a maximum of 20-year tax-free status (depending on investment amount). Above all, Fiji has a highly talented English-speaking workforce, and this is why we are attracting a lot more BPO’s in the country.”
Kumar says there are a lot of untapped potential in the manufacturing sector.
She says to encourage greater growth, Fiji is also offering tax exemptions and deductions across various industries, particularly in commercial agriculture and agro-processing.