Fiji needs quality investments
November 2, 2014 1:41 am
Over the last two years Investment Fiji has recorded local investment totaling $117 million alone and this positive growth has been attributed to a change in policy.
The implementation of a policy to include local investors who contribute $500,000 or more is bearing fruit.
Chairman of Investment Fiji Truman Bradley says while this is a good sign, Fiji needs to be careful to not compromise on the type of investors that are coming into the country.
“Investment in Fiji must be quality not quantity driven. We have limited resources and capabilities and we need to understand these to develop exports, FTI and investments going forward.”
Investment Fiji plays a vital role in helping foreign investors set up their businesses here. It takes 12 to 18 months to set up a business.
Bradley says the time needs to be shortened and the only way to do this is to have a collective approach.
“At Investment Fiji not to have policy pushed down upon us. We need to work with the private sector and develop policy and push that policy up so that we are achieving between private sector, Investment Fiji and the politicians what’s required to drive investment.”
The change in policy has proven to be beneficial for Fiji with about 700 registered projects established in Fiji over the past 5 years.
The service sector is the fastest growing sector in Fiji over the last few years.