The recent establishment of the US Fiji Chamber of Commerce is poised to significantly benefit local businesses in Fiji by increasing investment opportunities from the Fijian diaspora in America. Initiated in June, the chamber aims to forge connections between entrepreneurs in the United States and Fiji, marking an important development in fostering international business partnerships, as stated by its president, Narendra Narayan.
Narayan, a tech leader and founder of the Narayan Family Foundation in California, emphasized that areas such as technology and agriculture are at the forefront of potential investment. “The reason for technology is students that graduate from university do not have many opportunities, we want to create jobs for them,” he explained, highlighting the importance of innovation in addressing local employment needs. The ministry’s efforts to engage the diaspora resonate with his views, as outlined in a related initiative by Fiji’s Ministry of Trade, focusing on enhancing savings and investment opportunities among Fijians abroad to support the economy.
A memorandum of understanding is established prior to any investments made in Fiji, ensuring that all parties are comprehensively aligned. Narayan pointed out the potential for the tourism sector, stating, “The tourism industry has pretty much taken off; it doesn’t need much of our involvement.”
Significantly, the chamber aims to recruit at least 50 members by its first anniversary, reflecting the potential growth of Fijian-owned businesses in the USA. Case in point, Poasa Koroitamana, a successful entrepreneur with substantial investments such as a piggery farm in Nausori and plans for a retirement haven in Maui, underscored the chamber’s role in opening up numerous opportunities by leveraging the expertise of its members.
This initiative not only seeks to enhance investment and business opportunities but also aims to reduce the outflow of skilled Fijians seeking jobs abroad. “Instead of Fijians leaving for better prospects, we should create opportunities for them at home,” Koroitamana stated, encapsulating the hope for a more prosperous future for Fijians through these collaborative efforts.
The engagement between local and overseas Fijians reflects a proactive approach to economic development, underscoring the importance of community and global connections in fostering resilience and growth within the Fijian economy. It is a hopeful sign that as investments from the diaspora increase, so too will opportunities for Fijians both at home and abroad.
Overall, this synergy between the US Fiji Chamber of Commerce and the Ministry of Trade initiatives signals a promising trajectory for Fiji’s economic landscape, enhancing community ties and paving the way for a brighter future.
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