Suva businesses believe the introduction of a 25 percent investment allowance by government on total capital expenditure, incurred in the extension, renovation or re-development of commercial buildings will help beautify the capital city.
A number of buildings in the capital need to be renovated in an effort to attract people back to the capital city.
Suva Retailers Association President Vinay Kumar says there are now plans in place to attract people back to the capital considering the development in other areas, like the Suva-Nausori corridor.
”Government has put in place this so it’s a good initiative .It’s like beautifying Suva basically are lots other plans but some are in early stages, middle and beautifying Suva and getting people to town and also tourism to Suva.”
Meanwhile in order to qualify for the incentive, the applicant must invest at least one million dollars excluding the cost of interior furnishings, furniture and fittings.
