Esrom Yosef Immanuel has officially been inaugurated as Fiji’s new Minister for Finance, Commerce, and Business Development. The swearing-in ceremony took place at Government House and was officiated by Acting President Justice Salesi Temo. Immanuel steps into this pivotal role after previously serving as the Assistant Minister for Finance, succeeding National Federation Party (NFP) leader Professor Biman Prasad, who resigned from the position last week. Professor Prasad had held the finance portfolio since the coalition government commenced its term in December 2022.
Amidst this transition in leadership, positive indicators regarding investment activity in Fiji have emerged. The Reserve Bank of Fiji’s October 2025 Economic Review noted an uplift in business confidence, attributed to a more conducive investment environment. Partial indicators suggest that construction activities saw a significant acceleration, with the value of work increasing by 12 percent in the year leading to the second quarter. This growth is reflective of heightened project activities in both public and private sectors, aided by a decline in building material prices by 3.2 percent during the September quarter.
The central bank remarked, “The uptick in construction and business investment intentions highlights growing confidence in Fiji’s economic outlook.” Moreover, construction-related imports surged by 5.1 percent, reaching a cumulative total of $2.9 billion by July, showcasing an increased demand for machinery and building materials. However, it was noted that new investment lending saw a decrease of 5 percent, largely influenced by weaker credit flow to the real estate and construction sectors.
Despite these fluctuations, the overall financial conditions in Fiji remain favorable, with broad money supply expanding by 10.9 percent in September. This growth is driven by a 9.6 percent rise in private sector credit and growing foreign reserves. The Reserve Bank of Fiji confidently stated that investment activity is expected to remain robust in the coming months, suggesting a bright outlook propelled by increasing confidence and an encouraging construction momentum.
This incoming focus on economic revitalization and investment by the new Minister, coupled with strengthened business confidence, fosters optimism for Fiji’s economic trajectory under Immanuel’s guidance. As the government tackles past challenges and aligns various economic sectors effectively, there is a hopeful prospect for sustainable growth and improved governance in the nation.
Leave a comment