The Minister for Lands and Mineral Resources in Fiji, Filimoni Vosarogo, emphasized the crucial role of the private sector in driving the economy during the Annual Business Forum organized by the Nadi Chamber of Commerce & Industry at the Tanoa International Hotel. He highlighted the potential of sectors such as agriculture, mineral resources, and mining, which remain largely untapped and could serve as significant economic contributors in the future.
An example he pointed to was the Tuvatu Gold Mine in Sabeto, where nearby villages have benefitted economically, seeing monthly incomes of approximately $25,000 and $50,000 respectively from employment opportunities provided by Lion One Metals Ltd, the company operating the mine. This underscores how resource development can yield tangible local economic benefits.
Mr. Vosarogo also stressed the importance of diversification in the economy, particularly in light of past disruptions such as the global pandemic, which severely impacted the tourism sector, Fiji’s largest economic driver. He reiterated the need to leverage the nation’s natural resources responsibly and develop a roadmap for economic growth through the National Development Plan (NDP) for 2025-2029.
Dr. Ram Raju, the NCCI president, echoed these views, calling for a vigorous and honest discussion about economic advancements and urging that now is the time for actionable steps rather than just discussions about improving the economy.
The article brings to light the importance of a balanced economic approach that fosters resilience by not relying solely on tourism and instead builds on its natural resources. This is an optimistic perspective as it suggests a pathway toward a more sustainable and diversified economic future for Fiji, ultimately benefiting both the private sector and local communities.
In summary, Fiji’s focus on harnessing its untapped natural resources and diversifying its economy is a proactive step toward resilience and sustainable growth. The government’s commitment, alongside private sector support, may position the nation favorably against future global disruptions.
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