Finance Minister Professor Biman Prasad has encouraged aspiring entrepreneurs to seek Government’s support in setting up new businesses.
He said Government offered a wide range of incentives for businesses in sectors such as agriculture.
“New ventures in commercial agriculture and agro-processing can benefit from tax exemptions for five to 20 years, depending on the level of capital investment,” he said.
“Additionally, specialised machinery, equipment, and agricultural inputs can be imported duty-free, reducing costs and making it easier for businesses to scale up.”
Prof Prasad said Fiji’s economy was on a strong trajectory and it was an opportune time for businesses to invest and grow.
He said the Coalition Government was committed to creating a business-friendly environment by removing bureaucratic hurdles, reducing the cost of doing business, and enhancing investor confidence.
“A suite of tax incentives is also available to encourage further investments.
“To our entrepreneurs, if you have innovative business ideas, we want to hear from you. If you face challenges, my ministry is always open to discussions on how we can work together to support your growth.
“In the past, Fiji had only a handful of feed mills. Today, we are witnessing a positive shift as more poultry farmers invest in feed manufacturing. This fosters competition, enhances economies of scale, and ultimately leads to more affordable and higher-quality products for our people.
“However, I want to emphasise a critical point. When the government provides duty concessions or safeguards local industries through higher import duties, we expect these benefits to be passed on to consumers.
“Protection should not lead to inflated prices for ordinary Fijians. While we remain committed to supporting local businesses, we also expect ethical business practices.
“If these concerns are not addressed, the Coalition Government will explore stricter measures in the budget to ensure that our people directly benefit from these policies.”
