The iTaukei Land Trust Board has expressed concerns about some investors who make grand promises but lack financial backing. CEO Solomoni Nata raised these issues after reviewing Investment Fiji’s vetting process during a consultation in Suva regarding the TLTB Land Use Master Plan.
Nata highlighted that approximately 30 percent of leases are underutilized, with tourism being particularly affected. He remarked, “Many tourist operators arrive with big claims but have no financial resources.” He emphasized that investors approved by Investment Fiji should possess sufficient funds and genuine intentions, instead of relying on government support or leveraging local resources for their projects.
He called for partnerships with financially capable individuals willing to invest. Additionally, Nata contested Investment Fiji’s assertion that land tenure in the country is uncertain, emphasizing that native land significantly contributes to the economy.
“Consider Denarau and the majority of real estate supporting Fiji’s economy; most of it originates from native land. The misconception of land tenure uncertainty persists despite native land being pivotal to our economy, with various sectors, including housing, energy, tourism, and conservation, drawing from it.”
Lisala Dyer, the Head of Regional and Trade Development at Investment Fiji, stated that as of July 31, 2024, they no longer issue Foreign Investment Registration Certificates, transferring this responsibility to investment promotion agencies. He noted a shift in focus towards attracting quality investments rather than prioritizing the quantity.