THE construction industry is one of the major contributors to Fiji’s Gross Domestic Product (GDP).
Association of Banks in Fiji (ABIF) chairperson Frederick Reynaud noted this in a statement issued today as the Construction Industry Council prepares to hold its inaugural conference next month.
Mr Reynaud said in times of disasters such as fires, hurricanes or a flood, the construction industry was critical in quickly repairing damaged structures.
However, he said the local banking sector played a vital role in ensuring the construction industry continued to lay strong building blocks for the economy.
Mr Reynaud said for as long as financial institutions existed, there would always be a direct relationship with banks providing “loans and advances to facilitate the construction of new buildings plus the maintenance, renovations, and upgrade of these structures”.
He said improved wage rates for local tradesmen could also boost productivity, also encouraging school dropouts to attend building trades through NTPC, as well as existing institutions such as Monfort Boys Town in Veisari, as well as Technical Colleges recently set up by the Education Ministry or even APTC.
The Construction Industry Council conference themed ‘Building for the Future Today’ will be held at the Warwick Fiji from June 14-16, 2018, and will be officiated by Attorney General Aiyaz Sayed-Khaiyum.
