The Ministry of Forestry has reported a strong financial performance for the 2022-2023 fiscal year, according to evidence presented by the Auditor General’s Office. During a presentation to Parliament, Minister Alitia Bainivalu highlighted that this marks the fourth consecutive year the Ministry achieved an unqualified audit opinion, underscoring its dedication to sound financial oversight and governance.
Minister Bainivalu emphasized collaboration with landowners, communities, civil society, and development partners to ensure the conservation and betterment of Fiji’s forests, which is vital for the prosperity of future generations. The report indicates that the forestry and logging industry contributed approximately $31.1 million to the economy in 2022, accounting for 0.3 percent of Fiji’s Gross Domestic Product (GDP). However, when considering value-added manufacturing and downstream industries related to forestry, the total contribution rises to around $140.4 million, representing 1.4 percent of GDP.
The forestry sector is essential in maintaining a balance between economic development and environmental conservation. With ongoing investments in forestry plantations using fast-growing exotic species like pine and mahogany, which originated even before Fiji’s independence in 1970, the Ministry continues its efforts to create a sustainable timber industry.
These ventures have fostered the establishment of two commercial forest plantation companies, co-owned by the government and local landowners. In light of climate change challenges, Minister Bainivalu acknowledged the need for adaptive strategies. She mentioned how the changing climate complicates seasonal patterns, increasing risks like forest fires and affecting plantation stability.
A positive outlook persists as the mahogany plantation is expected to double its production within the next 18 to 24 months, aiming to enhance wood production to nearly 600,000 cubic meters annually. This commitment to sustainability and innovation could bolster Fiji’s economy and ensure the vitality of its natural resources for years to come.
Leave a comment