The Fijian government has recognized a rising interest from former citizens and the diaspora in investing in their homeland and is taking proactive measures to streamline this process. Deputy Prime Minister and Minister of Finance Professor Biman Prasad announced these initiatives during a recent post-budget breakfast in Suva, addressing legal reforms aimed at enhancing “trust setups” and providing “investment incentives” for former citizens returning to Fiji.
Prof. Prasad emphasized that there is significant enthusiasm among Fijians living abroad to invest back home. “We’re trying to do as much as we can to make it easier for our people to come back, live, decide, and invest in Fiji,” he stated, confirming that changes to trust laws designed for former citizens would also benefit current residents.
The government has introduced several supportive measures, including a substantial reduction in citizenship fees from $3,450 to $1,500. Additionally, past reforms now allow descendants of Fijians, particularly those listed in the Vola ni Kawa Bula (VKB), to return to Fiji and settle without the necessity of a passport, contingent on proving familial ties to citizens at the time of independence.
These developments follow a recent trade mission to Australia, where the potential for economic cooperation was highlighted. The initiative aims to not only increase investments but also create job opportunities by fostering collaboration and the exchange of innovative ideas between local markets and global Fijian entrepreneurs.
The government is encouraged by early results from these initiatives, noting increased investments led by the diaspora across various sectors. This concerted effort is viewed as a key strategy to enhance Fiji’s appeal as an investment destination, ultimately supporting sustainable economic growth and strengthening the bond between the global Fijian community and their homeland.
The anticipated engagement with the diaspora signals a hopeful future, promoting collaboration that not only enriches local businesses but also contributes significantly to the overall economy of Fiji. By leveraging the expertise and resources of Fijians abroad, the country aims to create a vibrant economic environment conducive to growth.
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