The iTaukei Land Trust Board has expressed concerns about certain investors who make grand promises but lack the necessary financial backing. CEO Solomoni Nata raised this issue while questioning the vetting process employed by Investment Fiji.
During the TLTB Land Use Master Plan consultation in Suva, Nata pointed out that nearly 30 percent of land leases are not being utilized effectively, with tourism faring even worse. He noted, “Most of the tourist operators came in with big mouths and no money,” emphasizing their lack of financial resources.
Nata elaborated that investors must have the right intentions and sufficient funding, rather than relying on government support or using “our own money” to finance their projects. He called for investors who are genuinely ready to contribute capital to Fiji.
Additionally, he dismissed Investment Fiji’s assertion that land tenure in the country is uncertain, arguing that native land significantly contributes to the economy. He cited examples such as Denarau and various real estate developments, which largely originate from native land, reinforcing its economic importance in sectors such as housing, energy, and tourism.
Lisala Dyer, the Head of Regional and Trade Development at Investment Fiji, noted that they stopped issuing Foreign Investment Registration Certificates on July 31, 2024, transferring this responsibility to investment promotion agencies. He mentioned a shift in focus towards attracting high-quality investments instead of merely increasing the number of investments entering the country.