Fiji has an investment pipeline worth $7.6 billion.
Minister for Finance, Commerce and Business Development Esrom Immanuel revealed this at the State of the Economy breakfast talanoa at the GPH in Suva yesterday.
The event was jointly organised by the Fiji Commerce & Employers Federation (FCEF) and the Fiji Institute of Chartered Accountants (FICA).
Mr Immanuel said last year, there was around $6b worth of investments and the increase showed there was still confidence and opportunities in Fiji’s economy.
He said majority of those investments were in real estate and tourism and transportation, with some already in construction stage while some were still in a conceptual stage.
He added those were some key indicators of confidence and growth.
Last year, this newspaper had reported that Investment Fiji had a pipeline of 212 investment projects worth $6.2b covering the tourism, manufacturing, services, real estate and other sectors.
“Also, there is a plan for one priority area that we’re looking at, between now and the medium term, is to make Fiji a hub, that is a hub for the Pacific economically,” Mr Immanuel said.
“We have connectivity on air, we try to improve our connectivity on seas, and we already have connectivity in terms of telecommunications and financial systems.
“We will try to be hub in the Pacific as we are well-developed, structured as well as secure.”
Mr Immanuel said Fiji’s geographical location was also an added advantage. He said an advantage too was the already-present institutional infrastructure like the iTLTB, immigration, police, and army that were providing assistance, training and mentoring for Pacific islanders.
Mr Immanuel said the second major advantage was the confidence by overseas companies to develop and establish industries here.
Minister for Finance Esrom Immanuel chats with FCEF president Eldon Eastgate, trustee Viliame Leqa and CEO Edward Bernard at the State of the Economy breakfast talanoa at the GPH in Suva yesterday. Picture: TIMOCI VULA
