OUR role as business leaders and financial stewards will be crucial in attracting investments and ensuring the financial viability of these ventures.
This was the word from Fiji Institute of Chartered Accountants (FICA) President Rajeshwar Singh to about 400 participants for the FICA Annual Congress at the Shangri-La Yanuca Island Resort in Sigatoka that started yesterday.
He said his vision as FICA president was for the business community to be one unwavering, resilient and strategic agile sector and also flourish with innovation and opportunity.
“The international landscape is abuzz with change — geopolitics impacting on boundaries, changing the shifting business trends, political uncertainties, ongoing radical clashes among many countries and a world still grappling with the after-effects of a global pandemic,” Mr Singh said.
“There are some mega trends globally, which are, directly or indirectly, influencing our future. From the recent past, we are witnessing an explosion of technological advancements — from artificial intelligence to blockchain.
“As business leaders, we must make an effort to understand these technologies which can support in streamlining processes, enhance data analysis, and unlock new avenues for growth.
“While tourism remains a cornerstone of our economy, we must explore alternatives to boost and diversify the Fijian economy and mitigate financial distress. This could involve fostering manufacturing, maritime industries, or knowledge-based businesses.”
He said despite the world changing rapidly, Fiji’s potential remained boundless.
“We, as leaders, can play a pivotal role in promoting responsible investment, advocating for environmental and social governance (ESG) frameworks, and ensuring businesses operate within the boundaries of ethical and environmental responsibility.
“By embracing innovation, adapting to challenges, and fostering a culture of sustainability, we can build a succeeding Fijian business community. As business professionals, we are the architects of this future.
“This vision isn’t a far-off fantasy. It’s within our reach. To achieve it, we need to work together. More specifically, we need to Invest in education and skills training; equipping Fijians with the knowledge and tools to succeed in the modern business world.
“To streamline regulations and a supportive government; creating an enabling environment that fosters innovation, not stifles it. Mentorship and sponsoring programs, connecting experienced and successful entrepreneurs with aspiring ones, fostering a culture of learning and guidance.”
Mr Singh said this vision was not just for the privileged few — “it’s also for the young men and women with a revolutionary idea in a remote village, for the fisherman with a sustainable fishing technique, for the taxi driver with a plan to revolutionise transportation, for a farmer who has innovative ideas of farm to table”.
