Friday, June 14, 2024
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Fiji holds extensive investment portfolios in PNG

Minister for Trade Manoa Kamikamica says it’s an exciting time for both Fiji and Papua New Guinea as the two countries try to re-establish their missions and further enhance trade and investment opportunities.

He said Fiji has a significant investment in PNG, where the Bank of the South Pacific (BSP) through the Fiji National Provident Fund (FNPF) has a significant amount of shares.

He said Fiji is number five in the list of shareholders with BSP.

The Minister also indicated that Amalgamated Telecom Holdings Limited is also making a significant investment in Papua New Guinea as well.

“This is apart from business people there, also those that have left and want to re-engage – these are some big names in Fiji. These are exciting times for Fiji,” Kamikamica said.

He said Fiji has an opportunity to tap into a market that has 12 million people.

“We can benefit from the PNG market. Already we have about 10,000 Fijian workers in PNG, working in different sectors of that economy.”

Yesterday, the Prime Minister Sitiveni Rabuka together with his PNG counterpart James Marape held bilateral talks.

Both parties have shown interest in re-establishing missions in both PNG and in Fiji to further enhance economic, security and bilateral relationship.

Ilaitia Ravuwai
Ilaitia Ravuwai
Journalist | news@fijilive.com

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