Foreign Investments forecast to drop by 40 percent
February 10, 2021 4:50 pm
Investment Fiji Chief Executive, Craig Strong.
The rate of foreign investors establishing businesses in Fiji is forecast to drop by at least 40 percent.
Investment Fiji Chief Executive, Craig Strong, says this is a direct consequence of the ongoing COVID-19 pandemic.
Strong adds the downturn has driven them to initiate strategies to ensure they continue to engage with potential investors and exporters at the global level.
He is optimistic investments will rebound to some state of normalcy over the next couple of years.
“If you look at Investment Fiji and the projects we’ve been registering we are about on par. So if you compare year on year, 2019 versus 2020 – we are about 40 percent down Foreign Direct Investment projects. So we are on part with the global trend at the moment.”
Strong highlighted they’ve been banking on virtual trade seminars touching on different sectors and have been successful over the last few months.
He says plans are in place to expand this webinar sessions over the next few months.
“So, whilst the Global Trade Expo was kind of a global initiative, we are looking at our key target markets, key export markets and focusing very much on each specific country over the next six months, and kicking off with New Zealand later this month and then going through Australia, the US, Japan and so forth.”
Investment Fiji will continue to ensure they are on the front-foot when it comes to attracting foreign direct investment opportunities.
Strong says they will also provide opportunity for registered exporters to connect with buyers around the world.