Fijian Holdings Limited CEO Jiaoji Koroi says indigenous Fijians must be allowed more opportunity to participate in business ventures and other areas that would enhance their standard of living.
Speaking at the National Economic Summit, Koroi said 75 per cent of the i-Taukei’s are living in poverty and 45 per cent of these are those living in rural areas.
Koroi said the rural sector has untapped resources like land, mineral, forestry, fishing, and agriculture, and approximately 91 percent of the land is owned by the i-Taukei.
The Thematic Area 9 – Indigenous Participation in Development Group suggested that an inclusive approach with resource owners to unlock this potential that can benefit the country.
Koroi added that apart from economic growth, it also helps in the diversification of Fiji’s economy, the equitable distribution of wealth, and national stability.
“One of the key limitations is the lack of data or the availability of data for effective policy formulation, and this should be immediately prioritized.”
The Working Group also recognized key challenges for the sector are the burden of increasing costs borne by rural customers, accessibility, lack of practical/relevant skills sets and experience, understanding relevant laws, lack of knowledge in financial literacy and commercial perspectives and bureaucracies.
“Six areas have been discussed as a way forward that includes the review of all i-Taukei legislation, joint approach to development by iTaukei institutions, natural resource development, the establishment of commercial centres in rural areas including Vunisea in Kadavu, Naqara in Taveuni, Nabouwalu in Bua, Keiyasi in Navosa, Seaqaqa in Macuata, Vunidawa in Naitasiri, Savusavu Blue Town and Dada in Namosi.
He added that women’s and youths participation in businesses should be strengthened.
He also suggested a national census and government ministries capture and disclose ethnicity data, and the iTaukei land grant be retained and increased.
