Koya stresses on domestic investor commitment
February 28, 2021 9:05 am
[Source: Fijian Government]
The commitment of domestic investors is vital to give new strength to the Fijian economy says Trade and Commerce Minister Faiyaz Koya.
Speaking at the opening of a new Commercial Business Centre at Fantasy Island, Koya highlighted that the 2020-2021 National Budget is about rebuilding Fiji and getting Fijians back to work.
He adds the National Budget includes several incentives to boost the retail sector such as slashing duties on 1,600 items, eliminating the STT, stamp duty and business licensing.
Koya highlighted that the government has also implemented decisive reforms in the area of starting a business.
This includes the digitalisation of the business registration process, bringing tax registration online and also the removal of business licensing.
Koya adds under the Regulations of Building Permits Act 2017, a fast-tracked and streamlined approval process for obtaining a construction permit for commercial and industrial purpose has been established, through the Building Permits Evaluation Committee.
He says over the year, his Ministry will work on the digitalisation of building permits application and approvals and starting a business process.