Government has set its sights on Vanua Levu as the country’s future economic growth hub for the next 20 years.
Deputy Prime Minister and Minister for Finance Professor Biman Prasad made the announcement during the post-budget breakfast held at the Grand Pacific Hotel in Suva on Saturday, where he highlighted Vanua Levu’s potential to drive long-term national growth.
“Vanua Levu will be the growth pole, growth centre for resource sectors, agriculture, fisheries, forestry, for the next 20 years,” Prof Prasad said.
While tourism remains a key economic driver, Prof Prasad noted that the resource sectors are performing well and gaining momentum.
“The first quarter figures show growth.
“There are some headwinds in some of the source destinations, but tourism is doing very well.”
He said indicators from the Reserve Bank of Fiji, along with growing investor confidence in land-based industries, point to a shift in economic focus beyond traditional sectors.
“If I were to give any investment advice to potential investors, I would say think about agriculture, think about fisheries, think about aquaculture.”
The Finance Minister also underscored the role of budget incentives in accelerating growth and diversification, including tax breaks and support for climate mitigation investments such as renewable energy.
“We’ve done more to promote diversification of the economy in the last two and a half years through our measures in the budget.”
Prof Prasad added the business process outsourcing (BPO) sector is another emerging area, with Fiji now ranked among the top four global destinations for BPO operations.
He said efforts to improve digital connectivity in Vanua Levu, including infrastructure investment from major tech companies such as Google, could position the region to benefit from digital sector growth as well.
“So the ingredients for the development of the resource sector, they are huge.
“And apart from that, we’re continuing to promote all other sectors that contribute to a resilient and inclusive economy.”
