A $2 billion investment pipeline is expected to emerge within the next year, according to Deputy Prime Minister and Minister for Trade Manoa Kamikamica. Speaking at the opening night of the 2024 Fiji-Australia Business Councils Joint Forum in Suva, Kamikamica highlighted that Investment Fiji, which operates under his ministry, has reported total investments in Fiji valued at approximately $6.1 billion. He described this as a robust sign of Fiji’s dynamic economic activity and its potential.
Kamikamica expressed optimism that around $2 billion of this pipeline will materialize in the next six to twelve months, suggesting it would significantly boost Fiji’s economic momentum. He attributed this growth to sound strategic decision-making, political stability, and the commitment of the workforce, especially amidst global uncertainties. The data suggests strong investor confidence in Fiji’s long-term prospects and shared efforts to maintain development.
During the event attended by over 200 participants, Kamikamica also referenced Fiji’s key role in the Indo Pacific Economic Framework (IPEF), an initiative that includes Australia and comprises 40% of the world’s GDP and population, along with a third of global trade historically. He noted that Fiji is the only Pacific nation partaking in this agreement, which is expected to unlock new economic and investment opportunities.
Kamikamica later discussed the interim Economic Partnership Agreement signed between Fiji and the European Union, emphasizing its potential benefits for companies like the Pacific Fishing Company (PAFCO), which could increase exports to the EU, thus utilizing more of its capacity.
He asserted that Fiji is actively participating in global discussions on sustainable fishing practices, addressing harmful subsidies affecting marine resources and asserting ownership over its oceans, which contain a significant portion of the world’s tuna stocks.
In conclusion, the Deputy Prime Minister urged investors to consider the advantages of Fiji as a prime investment destination, facilitated by international trade agreements that have enhanced Fiji’s competitive stance in the global market.