The Fijian Cabinet has approved a Cooperation Agreement with the International Finance Corporation (IFC) aimed at bolstering the Fiji Enabling Investment Environment Programme. This initiative is designed to enhance private sector development, promoting an environment conducive to business growth and investment.
Managed by IFC’s Country Advisory and Economics Department, this programme is being funded by the Australian Government as part of a broader Fiji Private Sector Development Partnership. The primary goals are to improve investment opportunities, refine business regulations, and stimulate economic growth across Fiji.
Recent discussions led by Acting Prime Minister and Minister of Finance, Prof. Biman Prasad, further emphasize the government’s commitment to fostering public-private partnerships. He previously highlighted ongoing infrastructure development projects in transport, energy, and housing, encouraging private investment to achieve Fiji’s ambitious infrastructure goals.
The government’s approach, which includes inviting potential investors to present viable business proposals, aims to enhance engagement and maximize economic outcomes. The collaboration with Australia, particularly regarding visa-free travel and trade agreements, strengthens Fiji’s economic ties and enhances its appeal to international investors.
This proactive stance and the establishment of the new agreement signal a hopeful trajectory for Fiji’s economic future, providing a supportive framework that could potentially attract significant foreign investment in areas like tourism and information communication technology (ICT). Overall, the initiative demonstrates Fiji’s dedication to creating a vibrant business climate, which stands to benefit both local and international stakeholders.
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