The government has urged the Fiji National Provident Fund (FNPF) to take a leading role in investments, leveraging its substantial portfolio of approximately $10 billion and significant involvement in the tourism sector. During a two-day strategy workshop in Nadi, Deputy Prime Minister and Minister of Finance Prof. Biman Prasad emphasized the current capacity challenges facing the industry and suggested that FNPF could contribute to increasing accommodation supply.
Prof. Prasad stated, “FNPF will play a crucial role in our national effort to add to this additional room capacity, including optimizing existing hotel assets and pursuing new hotel investments in the future.” He also highlighted the need for careful investigation of potential opportunities in Suva and Vanua Levu through initiatives supported by the government and the World Bank aimed at developing tourism.
In addition to expanding room capacity, Prof. Prasad pointed out the importance of enhancing visitor experiences within the tourism industry. He referenced FNPF’s previous investment in Fiji Airways during the COVID pandemic and suggested that FNPF could consider strategic investments in Fiji Airports, which require significant capital to advance.
“I understand the Fund is already exploring that, and as the government, we will need to provide our support,” he stated. By holding interests in the airline, airport, and hotels, Prof. Prasad believes the Fund would be better positioned to maximize returns for its members while also fostering the development of the tourism sector in line with the Vision 2050 goal of transforming Fiji into a prosperous nation.
Additionally, Prof. Prasad proposed that FNPF examine opportunities in retirement homes and tertiary healthcare as other avenues for investment.