UTOF Chief Executive, Vilash Chand
The Unit Trust of Fiji has made a significant rebound after seeing a drop in investment during the pandemic
For this year alone, they have recorded $72 million worth of investments.
According to UTOF Chief Executive, Vilash Chand, due to the pandemic, their investment was down 10% however, this year, it increased by 12%.
“Prior 2017 budget, the returns provided to Fiji residents were tax exempted and through the budget announcement, the Fijian government exempted that to regional partners in all offshore investors as well, so that gave us a lot of confidence to attract international partners or investors residing abroad to invest back home.”
Chand says the number of investors have grown from 25,000 to 60,000, a 100% rise.
He also states the government made a wise decision by granting tax-free return status to all overseas partners.