Attracting foreign direct investment crucial: Sen

February 29, 2024 6:27 am

ANZ Bank’s Australia and Pacific Economist, Kishti Sen, emphasizes the importance of attracting foreign direct investment to address Fiji’s growing skill gap and maintain a stable unemployment rate.

Sen’s call comes in the wake of his recent research, which reveals that over 25,000 Fijians have migrated to Australia and New Zealand in recent years.

He says this significant population movement has created a skills gap in the Fijian workforce, impacting various sectors of the economy.

Article continues after advertisement

“The key here is to attract more foreign direct investment into the country and to get the project pipeline moving so the economy continues to create jobs and keep downward pressure on the unemployment rate.”

Sen says increasing labor force participation and aligning skills to market needs are crucial for economic development.

“For Fiji it is imperative to keep the supply of labor up through an increased participation rate, so Fiji is constantly growing its labor force. It is also important that Fiji equips its people with the right skillset, basically skills that match industry demand.”

Sen adds that Fiji can create a more competitive and resilient economy in the future.