Fiji is currently managing a significant portfolio of 212 investment projects, valued at approximately $6.2 billion, which are at various stages of development. Finance Minister Esrom Immanuel revealed in Parliament that out of these, six projects are under construction, worth $1.67 billion; 73 projects in pre-development stages account for $2.3 billion; and 53 projects, with a projected value of $2.2 billion, are still in the planning phase.
These investments span across 14 critical sectors, including tourism, manufacturing, information and communications technology (ICT), energy, agriculture, transport, education, and health. Immanuel emphasized that the government is committed to ensuring that Fijian workers and local businesses, particularly micro, small, and medium enterprises (MSMEs), will reap the benefits of these investments.
To support workforce development, the government is enhancing its focus on education and skills training. This initiative aligns with their strong investment in technical and vocational education and training (TVET). Immanuel noted an increase in TVET scholarships from 2,780 to 4,500, aimed at equipping more Fijians with skills in vital areas such as construction, tourism, ICT, renewable energy, and manufacturing. Additionally, a new Macro Qualification Grant has been introduced to assist school dropouts, unemployed youth, and adults pursuing short training programs.
Opposition MP Premila Kumar raised inquiries about the sources of funding for these projects, questioning how much is funded by local investors compared to foreign entities. Immanuel assured that the government would provide further data on this critical aspect, as understanding foreign investment interest can help gauge overall investor confidence in Fiji.
This optimistic outlook for Fiji’s investment climate is supported by previous reports highlighting the growing recognition of the nation as a stable investment destination. Officials, including Deputy Prime Minister Manoa Kamikamica, have previously indicated Fiji’s aspirations to expand its investment portfolio significantly, bolstered by ongoing efforts to streamline business processes through initiatives like the upcoming digital ‘BusinessNOW Fiji’ portal. This platform aims to facilitate investments by integrating various government services, thereby simplifying the business landscape.
With the proactive measures being implemented, including education and skill development, Fiji is poised for enhanced growth in its investment sector. The government’s commitment to creating a favorable economic environment will likely bolster both local and international confidence, paving the way for a robust future.
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