The Minister for Lands and Mineral Resources, Filimoni Vosarogo, emphasized the significance of the private sector as a driving force in Fiji’s economy during the Nadi Chamber of Commerce & Industry’s Annual Business Forum held at Tanoa International Hotel. He highlighted that sectors such as agriculture, minerals, and mining remain largely untapped and have the potential to support economic growth and resilience in the future.
Referencing the Tuvatu Gold Mine in Sabeto, Mr. Vosarogo shared how nearby villages benefit economically, with local economies generating between $25,000 and $50,000 monthly due to employment opportunities provided by Lion One Metals Ltd, the mining operator. He also stressed the importance of the National Development Plan (NDP) 2025-2029, urging stakeholders to transform its vision into tangible outcomes.
While acknowledging tourism as the largest contributor to Fiji’s GDP, Mr. Vosarogo raised concerns about the vulnerability of relying on a single industry, especially highlighted by the global disruptions caused by events like the pandemic. He advocated for economic diversification, calling for responsible extraction of natural resources and careful utilization of ocean resources to build a more resilient economy.
Dr. Ram Raju, president of the NCCI, echoed these sentiments, emphasizing that the private sector plays a crucial role in promoting industrial growth and vitality in primary industries. He called for an “honest and robust debate” regarding the national economy, urging that it is now time for action rather than mere discussion.
This dialogue demonstrates a proactive approach to strengthening Fiji’s economic foundations through diversified industries and sustainable practices, laying the groundwork for a more robust and resilient economy moving forward.
In summary, the growing emphasis on diversification and responsible resource management presents an opportunity for Fiji to enhance its economic resilience and reduce vulnerability to external shocks in the future.
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