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Progressive effort in last 2 years: Koya


Aug 06, 2022 12:04:03 PM

Minister of Commerce, Trade, Tourism and Transport Faiyaz Koya says Fiji has made a progressive effort in the last two years in terms of investment and a total of 389 projects were registered with a proposed value of over $1.5 billion.
As a result, Koya said 12,742 ordinary Fijians were employed.
He revealed the statistics at the launch of the 2022 Prime Minister's International Business Awards (IBA) at the GPH Hotel in Suva on Friday.
"These projects were registered in services, tourism, wholesale and retail, manufacturing and real estate sectors."
"The Fijian Government has taken economic diversification to another level."
"The decisive leadership of considering outsourcing services as ‘essential business’ has made it capable of creating 100,000 new jobs for Fijians over the next decade. This in fact will be coupled with the right incentives, infrastructure, and strategic marketing in place."
"As a forward-looking Government, we have always progressed towards the overall vision of “Transforming Fiji” – through creating a modern investment environment – not just for today but for tomorrow, benefitting all Fijians and securing a stronger future."
Koya said after a lapse of almost two years, we have come back stronger and become more resilient, and are aiming for success and excellence.
"I wish to reiterate that the private sector sets the fountain of knowledge and experience of innovation — whilst the Fijian Government provides a facilitative and favorable environment for businesses to progress and move forward."
"The vision for a modern and inclusive economy is deeply ingrained in the 5-Year and 20-Year National Development Plan (NDP). The vision of "Transforming Fiji", blueprints Fiji’s securable potential as a nation."
"In this regard, the Fijian Government through the 2022-2023 National Budget, is focused on continuing the economic recovery that Fiji has achieved since the opening of the border in December 2021. The long-term policies of the budget are targeted to continue to improve the business and investment climate."
He said since 2017, the Government has been progressively removing obstacles for businesses to register a business.
"The new Investment Act 2021, which came into effect on Monday this week, means foreign investors no longer require Foreign Investment Registration Certificate. All you need to do is legally register your business with the Registrar of Companies, in line with the Companies Act 2015 and register for a tax number – and that too completely online."
"Investment Fiji, has an obligation to assist domestic investors, as we call it aftercare. This is to ensure that our domestic investors, who continued their commitment to Fiji, even during the pandemic are given the same treatment as foreign investors."
He added the Government has always implemented consistent policies and laws, which contributes towards building a dynamic and vibrant private sector.
"A private sector that invests, innovates and creates pathways to self-reliance, through the creation of jobs and growth of new and innovative industries. This essentially creates economic diversification for the Fijian Economy. I applaud the private sector strengths and determination.
In this IBA, 13 categories have been introduced to recognise the contribution of each sector, towards the growth of our nation — industries that contribute to the vividness and brilliance of our business environment.
By Romeka Romena

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