Work on $1.3 billion worth of projects underway

May 27, 2024 3:06 pm

Minister for Finance Professor Biman Prasad

Minister for Finance Professor Biman Prasad states that 39 projects valued around $1.3 billion are currently under construction.

He highlighted this while speaking at the Fiji Commerce and Employers Federation event in Suva today.

Prasad adds that this includes 39 projects valued at around $1.3 billion under construction, 22 projects valued around $1.5 billion at the pre-development stage, 27 projects valued at $2.3 billion at the conceptual stage, and 52 projects valued at $3.5 billion classified as Foreign Direct Investment.

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The Finance Minister also states that 85 projects valued at $2.2 billion are Domestic Direct Investments.

He adds that the government has allocated $9 million towards the ease of doing business initiative to promote Fiji as an ideal investment destination.

Prasad also acknowledged the challenges and reaffirmed the government’s commitment to economic stability and growth.

The Finance Minister adds to safeguard growth sustainability and address the hurdles that are holding this nation back, the government will re-think, re-strategize and re-align objectives in the upcoming budget.