News

$400M target for forestry sector

November 18, 2021 6:15 am

The Ministry of Forestry is dedicated to helping the forestry industry churn out $400 million dollars in the next three years.

This was revealed by the Acting Minister, Inia Seruiratu during the launch of the Ministry of Forestry’s annual operational plan 2021-2022.

“I am pleased to note that the Ministry has a three-year recovery plan that focuses on economic growth, improving incomes and food security and making sure that our forests are sustainable and healthy for generations to come. This recovery plan is projected to generate over $400 million in the next three years. Starting from this year.”

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The Ministry is planning to collaborate with private corporates to ensure that this target is realized.

“With a budget of $13.2 Million the Ministry aims to work with the Private sector to generate some $124 Million in exports for the 12 months ending in 2022. The forestry sector generated more than $36 Million dollars in export revenue in the first quarter of the financial year.”

Seruiratu says trees play a critical role in sustaining the environment and supporting Fiji’s economic development.