Infrastructure key to economic growth: Minam
February 5, 2019 12:34 pm
ANZ Fiji Country Head, Saud Minam
Communication infrastructure is a key component of economic growth.
ANZ Fiji Country Head, Saud Minam says it’s evident in the Pacific that more developed economies have better foundations and this is reflected in their progressive growth.
Minam says Fiji is an example of a standout performer in the region.
“In order for, to succeed or the success of any company, the most important part is the infrastructure. In the last couple of years, what we have seen in our infrastructure investments coming into the country and building that infrastructure to the next level has allowed this country to move fast. It has a really big impact in terms of economic growth and we’re hoping that yes with investments that the ATH is bringing into other parts of Pacific Island countries, we’ll be able to see the same sort of improvement in terms of the economic activities.”
The ANZ country head made the comment whilst announcing the financing agreement with Amalgamated Telecom Holdings that will see the Fijian company acquire Bluesky Pacific Group.
ANZ will partially finance around $90 million of the majority buyout of shares by ATH which in total will cost the holding company more than $160 million.
Bluesky Pacific Group has telecommunications businesses in Samoa, American Samoa and the Cook Islands.