Unit Trust of Fiji will now work with Fiji Cooperative Dairy Company Ltd (FCDCL) to promote saving investment to dairy farmers.

This comes after the two institutions signed a memorandum of agreement in Tailevu yesterday.

According to the Unit Trust of Fiji CEO Vilash Chand, they wanted to provide the dairy farmers with an investment platform through FCDCL to create their wealth by investing in whatever savings they have accumulated over a period of time.

“Also under this particular agreement the dairy farmers will be able to deduct whatever proceeds they get from the sale of dairy products through FCDCL into their investment account with the Unit Trust of Fiji,” he said.

Mr Chand said last week they had signed a similar agreement with Sugarcane Grower’s Council mainly for the canegrowers.

He said they had a dedicated plan called Farmers Investment Plan.

This was a mechanism for dairy farmers to start building up their wealth.

“So during your course of your farming you need to save, because the time you retire you may be relocating yourself from the farming environment to a retirement age, you need some sort of wealth to look after yourself after retirement.

“So that is something that we want to promote and provide to the farmers.

“The second important point to highlight is that under the scheme, we providing through other investment plans the return you generate from Unit Trust of Fiji will be tax free.”

He said this particular incentive had been provided by the Fijian Government and it was being rolled out to all their investors.

“Equally farmers through this particular scheme will be able to enjoy the same level of return and there are other benefits we provide in terms of flexibility, our products are very affordable and it’s very liquid.”