Investment Fiji, the nation’s primary agency for promoting investment and trade, is anticipating the launch of 15 to 20 new investment projects aimed at commencing construction in the upcoming year. Chief Executive Officer Kamal Chetty highlighted the agency’s ongoing challenge of initiating these projects during a recent interview. Currently, Investment Fiji holds a pipeline comprising 212 projects valued at approximately $6.2 billion, spanning a variety of sectors including tourism, manufacturing, services, and real estate.
Chetty outlined that these projects are at different stages of development. He emphasized the agency’s priority of moving them forward to the construction phase. “Some are already under construction, while others remain in pre-development or conceptual stages,” he stated. Chetty stressed the importance of getting these projects rolling to create employment opportunities and engage local farmers, particularly in agriculture-related initiatives.
He pointed out that while projects in fields like tourism can often take three to four years to complete, the focus remains on ensuring that something begins on the ground soon. “The challenge we face is how swiftly we can kick off these initiatives, sorting out necessary approvals and ensuring we have enough personnel to carry out the work,” he explained.
Among the projects expected to begin construction next year is Kerzner International’s luxury resort and private homes in Yasawa, which represents a significant investment in enhancing Fiji’s tourism offerings.
Furthermore, previous reports indicate that the Fiji economy is poised to benefit from an additional $600 million in private investment next year, as forecasted by Dr. Kishti Sen, a senior economist at ANZ for the Pacific. However, Dr. Sen stressed the urgent need to address labor shortages within the construction sector to fully capitalize on this investment potential. He suggested the possibility of importing labor to alleviate current constraints and enhance efficiency in project execution.
Overall, this optimistic outlook for Fiji’s investment landscape showcases a commitment to growth that not only presents immediate opportunities for employment and infrastructure development but also aims to strengthen the overall economy. With effective measures underway, Fiji is on track to becoming a more robust investment destination, promising a brighter future for its communities and sectors involved.
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