A businessman based in Labasa has made a significant investment exceeding $3 million in new ventures located at the Damodar Complex. Vinesh Dayal has allocated $3.8 million to acquire a block of property under strata title at this complex.
With this investment, Mr. Dayal has launched a new Lunch Box outlet and has also leased a portion of the space to Prouds, which is anticipated to open soon. Additionally, he has rented another area in the complex to establish Big Cats, the town’s first lounge and bar, offering a fresh entertainment option for local residents.
Div Damodar, the owner of the complex, emphasized the positive influence that the new eatery and bar will have on the area’s development. He expressed gratitude for Mr. Dayal’s vision and hard work, noting that this initiative has also created job opportunities for the local community.
Minister for Trade Manoa Kamikamica remarked on the growing confidence among investors in the North, asserting that Labasa has the potential to evolve into more than just a regional hub; it could become a crucial segment of Fiji’s next economic frontier. He highlighted that ongoing infrastructure improvements in the Northern Division are likely to attract further investment to the region.
This investment not only fosters a sense of local pride but also paves the way for economic growth and development in Labasa, making it an exciting time for both residents and potential investors alike.
In summary, Vinesh Dayal’s investment is a significant boost to the local economy, creating jobs, enhancing entertainment options, and positioning Labasa for further development. The collaborative efforts of business leaders and government support indicate a promising future for the Northern Division of Fiji.
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