Indian Newslink October 1 2018 Digital Edition

OCTOBER 1, 2018
08 Fijilink
Friendly policies attract investors to Fiji
Friendly policies and people-IT Sector
Supplied Content
The manufacturing sector
is often regarded
as the backbone of any
economy, as it drives
employment, creates know
how and encapsulates a much
wider network of ancillary
suppliers.
Being the ‘Hub of the
Pacific,’ Fiji is also astrategic
trans-shipment and re-export
centre for cargo traded between
the Pacific Island States.
Trade Agreements for access
Fiji is signatory to various
trade agreements, which
allow for preferred market
access and provides a conducive
investment climate
and opportunities with other
countries.
The Fijian Trade Policy
Framework provides greater
support to manufacturers
of all industries by way of
securing market access,
value added promotion, trade
facilitation, trade promotion
and capacity building.
Manufacturing is a
major sector in the economy
contributing 12.7% of GDP
and providing employment
for 20% of the country’s
workforce.
Given Fiji’s clean
environment and virgin
soils, potential investment
opportunities exist in organic
and natural food production,
niche manufacturing (paper
products, jewellery, furniture,
automotive) and assembly
for greater Pacific region
including Australia and New
Zealand.
Make it in Fiji
Garment manufacturers
for instance, use the close
proximity and connectivity to
Australia and New Zealand to
manufacture products at high
quality and flexible runs in a
just in time manner.
The Textile, Clothing and
Footwear (TCF) Council “Make
it in Fiji’ awareness campaign
committed to sustained
excellence through a process
of improvement to all aspects
of business operations such as
quality, social accountability
and flexibility promotes Fiji
as a low volume niche manufacturer.
This has resulted in factories
securing new buyers who
want the flexibility of being
able to place small orders on
a regular basis and have a
closer source of supply.
Raising the Profile
The “Fijian Made and Buy
Fijian Campaign” initiated
by the Fijian Government to
promote and raise the profile
of Fijian made products and
produce, both domestically
and internationally through
Fashion industry is growing in Fiji (Pictures supplied)
Made in Fiji carries quality and dependability
a national branding
strategy focuses on manufactured
items, such as
food (animal & vegetable
products), clothing and
items such as furniture
and handicrafts.
Small and Medium
enterprises have an
advantage of producing
lucrative niche products
in areas such as pharmaceuticals,
garments, food
products, coconut virgin
oil or noni juice.
Over the next five
years, further improvements
will be made to
support business activity.
Economic Zone coming
The Government is
developing Wairabetia
Economic Zone in the
Western Division offering
‘Plug and Play’ concept
with tailor made incentives
to attract investments
in the services and
manufacturing industries
and encourage Foreign
Direct Investment (FDI)
in a number of new
industries.
Fiji offers a market
friendly business
environment, sound macroeconomic
policies, tax
free zones, low inflation,
a relatively stable foreign
exchange rate and modern
commercial contract
laws, 20% corporate tax
and a lower rate of 10%
for companies listed on
the South Pacific Stock
Exchange.
Our national airline,
Fiji Airways provides excellent
service connectivity
across Fiji, the Pacific,
New Zealand, Australia,
Singapore, Japan, the USA
and Hong Kong.
Sustained growth
Over the last eight
years, Fiji has had a
strong and sustained economic
growth. In 2017, Fiji had an
estimated growth rate of 4.2%
and unemployment rate falling to
4.5%. With 69% of the Fiji’s total
population being under 40 years,
and a high literacy rate of 96% the
economic and social potential of
Fiji’s population is high.
The continued investment in infrastructure,
education and training
of our workforce have implications
not only for the attractiveness of Fiji
as location to investors, but also for
the quality of inward investment.
Increased government spending
on infrastructure and education,
coupled with robust private sector
sentiment, will support ongoing
improvements in the capital stock
and potential growth.
Significant opportunities
Fiji offers significant investment
opportunities across a number of
sectors, facilitated by stable political
and fiscal environment, continuous
enhancement of infrastructure,
growth of the tourism industry,
advantages of a young population,
a first class English-speaking
workforce, natural flair of services,
conducive business environment
and low entry costs.
As the Facilitation arm of the
Fiji Government, Investment Fiji
provides services and assistance to
promote, and stimulate investments
and exports.
The above article was supplied by
Investment Fiji, Suva.
Bringing NewZealand HeartSpecialists to Fiji
● Specialist Consultations ● Exercise Treadmill Test
● Echocardiography (Echo) ● Angiography
● Electrocardiogram (ECG) ● Angioplasty (Stenting)
Dr Parmjeet Parmar
National List MP based in Mt Roskill
invites you to a forum on the Government’s
employment law changes with Scott Simpson,
MP for Coromandel and National’s spokesperson
for Workplace Relations
Thursday 10 October 3.30pm - 4.45pm
Alisha’s Café, 8c Carr Rd, Three Kings
RSVP to my Mt Roskill office at 09 620 6707 or
email parmjeet.parmar@parliament.govt.nz
12 Commercial Street, Namaka, Nadi
Funded by the Parliamentary Service. Authorised by
Parmjeet Parmar, Parliament Buildings, Wellington.