ESROM Immanuel has taken the helm of one of Fiji’s most powerful ministries at a time of political change and high economic expectation.
Sworn in on Monday as the new Minister for Finance, Commerce and Business Development, Mr Immanuel steps into a portfolio recently vacated by former deputy prime minister and National Federation Party leader Professor Biman Prasad.
His appointment follows a week of uncertainty after Prof Prasad’s resignation triggered the redistribution of key economic responsibilities within the Government.
The reshuffle brings together the Finance Ministry with the newly-aligned portfolios of Commerce and Business Development, a combination that signals both continuity and consolidation in the Coalition’s economic direction.
“I wish to thank the Prime Minister for the trust and confidence in appointing me as the new Minister of Finance, Commerce and Business Development as we await the legal process to take its due course for Honourable Prasad,” Mr Immanuel told The Fiji Times.
“In this capacity, my key focus would be to ensure continuity in the day-to-day management of the finance portfolio, stability of government finances, fiscal discipline and engagement with key stakeholders, including the private sector, government agencies and development partners.”
Continuity amid transition
Mr Immanuel, who was formerly the Assistant Minister for Finance, said the immediate priority was maintaining stability.
“The Government remains focused on responsible fiscal management, private-sector development and long-term economic growth and resilience,” he said.
“We will ensure stability and continuity and continue our work to rebuild fiscal buffers, ensure fiscal sustainability and focus on growing the economy in line with the National Development Plan.”
He emphasised that while leadership has changed, the reform direction remained the same.
“We will continue with sound economic policies, fiscal priorities and reform directions.
“Our focus is on tightening control over expenditures while improving and diversifying revenue sources to strengthen Fiji’s fiscal position and ensure sustainable growth.”
The addition of the commerce and business portfolios, Mr Immanuel added, would further align the ministry’s economic and private-sector responsibilities.
“Now with the additional portfolio, I will also be responsible for commerce and business development, the full details of which will be put in place next week after Parliament.”
A careful hand on the tiller
Mr Immanuel’s arrival at the top of the Finance Ministry marks a significant political shift.
As one of the Coalition Government’s newer faces, his appointment was widely seen as a stabilising move by Prime Minister Sitiveni Rabuka to assure investors and donors that the Government’s fiscal management remains on course.
“I look forward to everyone’s support in managing this very crucial office.
“We are prioritising improvements in financial governance and internal audits across major ministries, as well as strengthening monitoring and evaluation of budgeted projects.
“This will ensure better accountability, efficiency and value for money in public spending.”
He said the ministry would also accelerate implementation of key development projects that directly impact communities and economic activity.
Now confirmed in the top role, Mr Immanuel said his focus was on “ensuring the ministry’s ongoing work continues seamlessly, with strong leadership, teamwork and adherence to our fiscal reform agenda and business development”.
A call for discipline and
delivery
Since his swearing-in, Mr Immanuel has sought to reassure both Parliament and the public that the Government’s major economic and infrastructure commitments will proceed without disruption.
Responding in Parliament to a question from Assistant Minister for Foreign Affairs Lenora Qereqeretabua on the progress of the $1.6 billion worth of public infrastructure projects recently announced, he said the program reflected the government’s commitment to long-term national growth.
“Investment in public infrastructure reflects the Government’s commitment to building a stronger, more resilient economy and improving the wellbeing of our people.
“Fiji continues to face challenges, including aging infrastructure, under-investment, rising maintenance costs, rapid urbanisation, and the impacts of climate change.”
Among the flagship projects are the Critical Bridges Resilience Project, worth more than $150 million, which will replace four major bridges; Lami, Rewa, Samabula and Vatuwaqa — with disaster-resilient designs. Financed by the Asian Development Bank and World Bank, the total project value is around $US200 million (approximately $F458m), with over 50 per cent in grants. Construction is expected to begin early next year.
Another key project, the Healthy Oceans and Water Supply Improvement Project, valued at $US171m ($F385m), will double the Kinoya wastewater treatment plant’s capacity and cut water losses from 48 per cent to 20 per cent over five years through a performance-based contract with a Spanish company.
Also underway is the Nadi Flood Alleviation Project, worth more than $400m, in partnership with JICA and the Australian Infrastructure Financing Facility for the Pacific.
Design and feasibility work has begun, with flood-protection works to start later this financial year.
In the health sector, the Government is developing a National Referral Hospital Master Plan with support from Australia, the World Bank, and the OPEC Fund.
The first phase, costing $63m, includes the redevelopment of CWM Hospital, with $15m already committed by the Australian Government.
“These projects represent only part of the broader investment underway across the country including rural and maritime road upgrades, rural water schemes, electrification, and school facility improvements,” he told Parliament.
“By investing in people and communities, we are not only creating jobs and improving services, but also laying the foundation for sustainable, long-term economic growth.”
A test of political and financial steadiness
For Mr Immanuel, the challenge ahead lies not just in managing budgets, but in managing expectations.
His appointment came amid speculation over political balance within the Coalition after the departure of one of its most senior partners. Yet, he has chosen to frame his new role in practical terms as a continuation of policy rather than a disruption of leadership.
As he put it outside Parliament: “This is really about continuity. We’ll build on the strategies already in place.”
Whether the markets, investors and political observers share that confidence remains to be seen. But for now, Fiji’s new Finance Minister is signalling one clear message: The books will stay balanced, the projects will continue, and the Government’s economic course will hold steady.
