SETTING up a unit to carry out background checks on foreign investors within the Land and Mineral Resources Ministry will be a costly exercise, says permanent secretary Malakai Finau.
Mr Finau said there wasn’t any need to establish or strengthen background checks on foreign investors because that was the role of Investment Fiji and the Reserve Bank of Fiji.
“If we set up such a unit, there will be duplication because Government also have the resources and expertise to carry out this role,” Mr Finau said while making submissions before the Public Accounts Committee in Parliament yesterday.
He said they did not have plans to set up such a unit within their ministry.
“I think this is the role of Investment Fiji because they are the point of entry for foreign investors coming into Fiji and they are better resourced.”
In response, SODELPA MP Ratu Naiqama Lalabalavu said as the ministry responsible for issuing land leases, it was important that they carried out background checks on foreign investors.
“You need to carry out background checks on foreign investors because you are a land leasing agency. This should be included in your operations,” Ratu Naiqama said.
“This is for the protection of our landowners and there are a lot of foreign investors coming to our shores and we don’t even know where they come from.”
