A $2 billion investment pipeline is expected to develop over the next year, according to Deputy Prime Minister and Minister for Trade Manoa Kamikamica. Speaking at the opening night of the 2024 Fiji-Australia, Australia-Fiji Business Councils Joint Forum in Suva, he noted that Investment Fiji, an agency within his ministry, reported total investments in Fiji currently valued at about $6.1 billion. This figure reflects the active economic environment and its potential in Fiji.
Kamikamica anticipates that approximately $2 billion of this investment pipeline will come to fruition in the next six to twelve months, which he believes will enhance Fiji’s economic momentum. He highlighted that the data demonstrates the resilience of the economy, driven by strategic decision-making, political stability, and a dedicated workforce amid global uncertainties.
He emphasized the robust confidence investors have in Fiji’s long-term prospects, which supports the nation’s ongoing development efforts. During his address to over 200 participants, Kamikamica discussed the importance of Fiji’s involvement in the Indo-Pacific Economic Framework (IPEF), highlighting that Fiji is the only Pacific nation in this agreement, which covers 40% of the world’s GDP, population, and historical trade.
He expressed optimism that IPEF would provide economic and investment opportunities for Fiji. Additionally, he referenced the recent interim Economic Partnership Agreement signed between Fiji and the European Union, which is expected to benefit Fiji’s exporters, such as the Pacific Fishing Company (PAFCO), by allowing for increased exports to the EU market.
Kamikamica also mentioned Fiji’s active role in addressing harmful fishing subsidies that endanger ocean resources, asserting that the Pacific is committed to taking ownership of its waters, which contain a significant portion of the world’s tuna stocks. He concluded by reminding investors of Fiji’s potential as an exciting business destination, enhanced by international trade agreements that position the country competitively in the global market.