Fiji is focused on bolstering its economy, with a strong emphasis on attracting foreign investment, a goal that remains a complex challenge. According to Investments Fiji, the Chief Executive Kamal Chetty highlighted that while there has been a noticeable rise in investor interest, Fiji’s limited market size and its geographical distance from major global markets continue to hinder progress.
In 2022, investors from 52 different countries demonstrated interest in Fiji, contributing to the growth of managed investment projects from 189 to 224. This emerging interest is encouraging, as it hints at potential economic expansion. However, Chetty pointed out that this growth brings additional pressures, particularly in terms of starting new projects.
Chetty stated, “All those positive growth that we see also increases challenges. The first challenge is obviously we’ve seen growth in interest to invest in Fiji, and with that growth will also come challenges. It’s not that the challenges are bad; rather, they are a sign that as we grow our economy, these challenges will emerge and we must be prepared for the future.”
He emphasized that while obstacles such as prolonged approval processes, the need for engagement with resource owners, and inter-agency coordination can slow down project implementations, these elements are crucial for long-term stability and success. Despite these hurdles, Chetty remains optimistic, asserting that proactive planning and ongoing government support are vital for maintaining investor confidence and fostering a sustainable economic environment in Fiji.
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