The Fijian government has encouraged the Fiji National Provident Fund (FNPF) to take a leading role in investment, particularly given its substantial investment portfolio of approximately $10 billion and its growing involvement in the tourism sector.
At a strategic workshop for the FNPF Board held in Nadi, Deputy Prime Minister and Minister of Finance Prof. Biman Prasad addressed the current challenges in the tourism industry, emphasizing that the FNPF could contribute significantly to increasing hotel room availability. He stated, “FNPF will play a crucial role in our national effort to add to this additional room capacity, including the optimization of current hotel assets and new hotel investments going forward.” He also noted the importance of thorough due diligence, particularly in regions like Suva and Vanua Levu, as the government collaborates with the World Bank on tourism development initiatives.
Additionally, Prof. Prasad highlighted the need for the tourism sector to enhance visitor experiences beyond merely increasing room capacity. He referenced the FNPF’s acquisition of shares in Fiji Airways during the pandemic and suggested that it consider strategic investments in Fiji Airports, which he described as requiring significant capital improvement.
“The Fund’s interests in the airline, airport, and hotels—key components of the tourism sector—will strategically position it to maximize returns for its members while supporting the next stage of development in tourism to achieve Vision 2050, which aims for a prosperous nation,” Prof. Prasad expressed. He also mentioned two other sectors for FNPF’s consideration: retirement homes and tertiary healthcare services.