Tuesday, April 16, 2024
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Private sector crucial to growing economy: Biman

The Deputy Prime Minister and Minister for Finance, Professor Biman Prasad, says that the role of the private sector is paramount for economic recovery, job creation and overall development.

Speaking at the inauguration of the Total Energies Service Station in Ba, Prof Prasad says that as a government, they need to listen and create a more enabling environment for the private sector to thrive, through confidence building, streamlining business processes to make things easier, investing in public infrastructure, skill development, ensuring rule of law and providing stability.

Prof Prasad said that the event marked a significant stride towards sustainable energy solutions and economic progress, and commended Total Energies for their investment and their commitment to clean energy initiatives.

He said the government strongly believes that private sector-led economic rejuvenation is an important pillar to ensure sustainable economic growth which is critical to put the debt-to-GDP ratio on a consistent downward path, complementing the planned fiscal deficit reductions, however, this requires a number of structural reforms to ensure private sector growth and development is supported.

Prof Prasad added that the collaboration between the private sector and the government shows Fiji’s dedication to providing a conducive environment for businesses to thrive.

Ilaitia Ravuwai
Ilaitia Ravuwai
Journalist | news@fijilive.com

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