Friday, April 19, 2024
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$8.3B worth of investment to commence soon

Deputy Prime Minister and Minister for Trade Manoa Kamikamica says a total of 141 committed investment projects worth $8.3 billion are ready to commence soon.

These are current figures from Fiji’s Investment Promotion Agency, Investment Fiji – of these active leads, 23 are from Australia with a proposed investment value of over $150 million.

Kamikamica said this shows that investor confidence and business sentiment is strong and Fiji is most definitely ‘Open for Business.’

“Australia continues to be one of Fiji’s largest trade and investment partners, with two-way goods and services trade totalling over $2.43B in 2021 – 2022. Australia remains a major source of foreign investment for Fiji.”

“Australia is also Fiji’s second-largest export and import destination, with over 3,000 Aussie companies currently doing business in Fiji. Our bilateral trade and investment has indeed thrived in recent times, creating economic opportunities for our people.”

He also highlighted that there is greater levels of exports and market access for Fiji products in Australia – including the pilot program allowing commercial importation of kava.

Kamikamica said since 2021, Fiji has exported over 50 tonnes of kava powder to Australia and of the 258 registered exporters from the Pacific, 154 are from Fiji.

He added that Fiji looks forward to seeing the benefits of full commercialisation – opening the doors for greater levels of innovation and access for kava based products that can appeal to a much broader section of the Australian community.

Ilaitia Ravuwai
Ilaitia Ravuwai
Journalist | news@fijilive.com

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