The Fijian Government is keen to promote Foreign Direct Investment (FDI) and encourage New Zealand companies to bid for government contracts and assist in the country’s economic development process, a diplomat has said.
Mere Tora, Fiji’s Acting Head of Mission in Wellington, said that her Government recognises the importance of both local and foreign sources of private investment.
“Local investors and foreign investors are valuable to Fiji, since they have extensive and varied experience and expertise, strengthens and contributions that would help Fiji in its growth plans,” she said.
Tax incentives
According to Ms Tora, the Fijian Government offers tax and duty incentives as a part of its investment promotion strategy.
The incentives come in a variety of forms such as tax exemption, tax deduction, investment allowance, rebate, duty reduction and duty exemption, she said.
“Fiji offers many opportunities in the traditional economic sectors as well as in rapidly growing sectors like ICT, Manufacturing, Tourism, Mining, Food Processing, Services and Resource-based sectors. The country has a long and positive track record in attracting investors from all over the world, many of who have re-invested in multiple projects and operating in Fiji,” she said.
Describing the private sector as the ‘engine of growth,’ Ms Tora said that her Government would ensure that companies and investors are provided the right environment to be true partners in progress.
Business delegation
She is leading a delegation of New Zealand businesses to Fiji from July 30 to August 4 to engage with government officials, stakeholders and entrepreneurs and explore possibilities of establishing enduring business relationships.
Fiji’s Honorary Consul in Auckland Harish Lodhia and Radio Tarana Managing Director Robert Khan are assisting Ms Tora in facilitating the visit, organising group and one-to-one meetings with potential businesspersons, agriculturalists and others in Fiji to ensure that each member of the delegation gets added value from the visit.
“There is ample potential for engagement in Fiji’s manufacturing industries, forestry, fisheries, tourism and agriculture,” Ms Tora said.
New Zealand gains
“New Zealand exports more than $300 million worth of goods every year to Fiji, which is more in terms of export to countries like Russia and South Africa. Therefore, Fiji is an important market. New Zealand can consolidate its position in the Fijian market because of the commercial and economic linkages already established and the close proximity of the two countries,” she added.
Stating that Fiji has political stability, Mrs Tora said that the ‘Roadmap to Democracy’ has led to political and socio-economic reforms to ensure that there is sustainable democracy when elections are held in 2014.
“The reform process has run concurrently with preparations for general election that would be fair and transparent,” she said.
