Fiji is encountering significant challenges in its labor market, particularly due to declining productivity levels. Deputy Prime Minister and Minister for Finance, Prof Biman Prasad, highlighted this urgent issue during discussions about the nation’s economic situation. He noted that while many companies have experienced a considerable loss of skilled workers, others have managed to successfully attract talent both locally and from abroad.
Prof Prasad stressed that productivity is crucial for driving long-term economic growth, which directly impacts national wealth and standards of living. To address the noted decline in productivity, the government plans to introduce policy measures aimed at promoting investment in new technologies, establishing modern training institutions, and enhancing infrastructure.
He stated that a robust infrastructure system, incorporating efficient transport networks, reliable energy sources, and advanced communication systems, is vital for boosting productivity. Additionally, the government seeks to create a more favorable business climate by streamlining regulations and reducing bureaucratic obstacles that hinder operational efficiency.
In support of these objectives, Prof Prasad called on businesses to focus on the well-being of their employees, promoting work-life balance, stress management, and continuous skill development. He acknowledged that a motivated and well-supported workforce is essential for sustained economic advancement.
This approach resonates with past remarks from Maritino Nemani, permanent secretary for the Ministry of Employment, Productivity, and Work Relations, who has emphasized the importance of fostering strong business relationships and effective leadership to stimulate economic growth. The government’s dedication to lessening compliance costs and improving workforce capabilities reflects a hopeful trajectory towards a more productive and resilient economy in Fiji.
Collectively, these initiatives aim not only to enhance productivity metrics but also to ensure that Fijians benefit from an improved quality of life and greater economic prosperity. The proactive measures by the government, combined with a call for collaboration from the business sector, suggest a promising outlook for the future economic landscape of Fiji.
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