The Ministry of Trade has unveiled a detailed plan aimed at empowering the Fijian diaspora living abroad by boosting their savings and investment opportunities. Minister Manoa Kamikamica highlighted the enthusiastic response to the USA-Fiji Investments and Savings initiative, which prompted the ministry to devise a more comprehensive engagement approach for Fijians overseas.
Minister Kamikamica emphasized that investments and savings made by the diaspora play a critical role in contributing to Fiji’s GDP. He noted that the funds raised from such initiatives are instrumental in supporting local businesses, creating jobs, and driving infrastructure development in Fiji. The minister also stressed that facilitating investments in sectors like land and housing can encourage the diaspora’s long-term involvement in the Fijian economy, which in turn ensures a more stable economic future.
Engaging with the diaspora not only fosters a sense of loyalty and belonging to Fiji but also encourages those abroad to consider returning home, retiring, or starting businesses. In addition to financial contributions, the skills, knowledge, and networks possessed by the diaspora can be harnessed to stimulate innovation and economic development in Fiji.
Mr. Kamikamica announced plans to establish the investment and savings drive as an annual commitment, beginning with the USA but intended to expand globally. The initiative will be aligned with Fiji Day celebrations to maximize participation, and the ministry is looking to introduce it in additional countries.
To facilitate this process, the ministry aims to identify and overcome barriers to investment opportunities, leveraging key partnerships such as those with HFC Bank to create a supportive environment for all Fijians, regardless of their location, to contribute to the nation’s success without facing obstacles.
The minister also shared that a policy targeting the diaspora is in the works and will be submitted for cabinet consideration. This policy is expected to not only attract more investments but also enhance wealth creation and improve the overall well-being of the Fijian people.
Overall, this strategic initiative presents a hopeful vision for the future, where Fijians, both at home and abroad, can collaborate seamlessly towards a thriving economy. By fostering connections and leveraging the strengths of its diaspora, Fiji is poised to experience significant growth and development in the coming years.
Summary: The Fijian Ministry of Trade has launched a strategy to engage the overseas diaspora by enhancing investment and savings opportunities, emphasizing their importance in contributing to the nation’s economy. Plans include establishing an annual investment drive, overcoming barriers to investment, and creating a policy to attract more diaspora participation. This initiative aims to strengthen connections with Fijians abroad and harness their resources for economic growth.
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