A multimillion-dollar commercial development has commenced in Korovou Town, Fiji, as Fijian Holdings Limited (FHL) collaborates with Nawaibuta Properties Pte Limited, representing the villages of Nailega, Navunisole, and Matacula. Chief Executive Jaoji Koroi emphasizes that this initiative goes beyond a simple project; it aims to construct a future where iTaukei landowners and their descendants can benefit directly and take the lead in developing their own resources.
Koroi highlighted that this partnership is indicative of FHL’s commitment to enhancing iTaukei participation in the commercial sector. He described this development as part of FHL’s broader $50 million impact investment portfolio, which is designed to support joint ventures with iTaukei resource owners throughout Fiji. This initiative aligns with FHL’s goal of empowering indigenous businesses and promoting economic growth in the community.
This new development follows previous successful investments by FHL in various projects to stimulate economic empowerment among the iTaukei people. For instance, FHL has previously allocated around $14.6 million toward several joint ventures, showcasing their dedication to foster indigenous economic participation. In light of these efforts, the outlook remains optimistic as such projects are expected to create jobs and enhance local economies, underpinning the potential for sustainable growth in the region.
Overall, this development signifies a vital step forward in community-driven economic advancement, highlighting the collective strength and participation of iTaukei landowners in the commercial landscape of Fiji.
Leave a comment