Deputy Prime Minister and Minister for Trade Manoa Kamikamica has signaled a promising outlook for Fiji’s investment landscape, suggesting an additional investment project worth between $4 billion and $8 billion could be on the horizon. Currently, there are 195 active investment projects across the nation, valued at approximately $5.5 billion. According to Kamikamica, these projects, which span from conceptual phases to full construction, are crucial for enhancing Fiji’s economic resilience and growth.
Kamikamica noted that with targeted efforts, Fiji could elevate its investment portfolio to between $9 billion and $13 billion, given the array of potential projects available. He referred to the Reserve Bank’s latest economic forecast, which indicates a growth projection of 3.2 percent for this year, albeit slightly revised down from earlier estimates. Despite this, he remains optimistic, believing that reaching a 4 percent growth rate is achievable.
The minister emphasized the need for Fiji to rethink its economic strategies, advocating for a transition away from conventional growth models towards embracing innovation and entrepreneurship as essential elements of the nation’s future.
This outlook aligns with Kamikamica’s previous statements made during the 2024 Fiji-Australia Joint Forum, where he anticipated a $2 billion investment pipeline to emerge over the next year. This optimism reflects not only the ongoing efforts to improve Fiji’s investment climate through initiatives like the ‘BusinessNow Fiji’ portal, a digital platform aimed at simplifying processes for investors by integrating various government services.
Notably, Kamikamica’s strong focus on international trade agreements, particularly Fiji’s role in the Indo-Pacific Economic Framework (IPEF) and recent agreements with the European Union, highlights the government’s proactive approach to leveraging global markets to benefit local businesses. These efforts could provide a robust platform for economic growth, ensuring that Fiji remains an attractive destination for foreign investments.
Furthermore, amid global uncertainties, Kamikamica’s initiatives aim to bolster investor confidence and support sustainable economic development in Fiji, opening pathways to new opportunities while emphasizing the importance of a dynamic and resilient economy.
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