The Fijian Cabinet has recently greenlighted the strategic revitalisation of the Fiji Investment Corporation Limited (FICL), paving the way for new investments once its audited accounts for the period from 2006 to 2022 are completed. This move aligns with the People’s Coalition Government’s goal to tackle governance challenges and reestablish FICL as a key player in driving economic growth.
In addition, a feasibility study will be carried out to evaluate the potential of FICL as a holding company for selected state-owned enterprises (SOEs). The corporation will prioritize investments in high-impact sectors such as agriculture and agro-processing, forestry, fisheries and aquaculture, manufacturing and industrial development, tourism and business process outsourcing, as well as ICT and services industries.
This revitalisation initiative aims to enhance investment opportunities, foster economic diversification, and create job opportunities for the Fijian populace. Such efforts complement the government’s broader strategy to boost investments across various sectors, which includes a significant pipeline of 184 projects valued at $6.2 billion, according to Deputy Prime Minister Manoa Kamikamica. His emphasis on international trade as vital to Fiji’s economy demonstrates a collective focus on improving trade terms and facilitating a favorable investment environment.
Moreover, the government’s commitment to investment in agriculture, as seen in the ongoing discussions regarding two major companies planning to invest in the sector and the expansion of local companies like FIJI Water, further underlines the optimism surrounding Fiji’s economic landscape.
With a dedicated approach to revitalising investment mechanisms and strengthening partnerships within high-potential sectors, Fiji is poised to create substantial opportunities for growth, innovation, and job creation in the months ahead. This initiative stands as a hopeful sign of the government’s commitment to fostering an environment conducive to economic resilience and inclusive development.
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