Fiji to introduce innovative strategies to woo foreign investment

 Fiji will continue to introduce innovative investment and export strategies to attract key investors and exporters, including those from China, said a Fijian minister on Monday.

According to Fiji Broadcasting Corporation (FBC), Fiji’s Minister for Commerce, Trade, Tourism and Transport Faiyaz Koya said at the virtual Fiji Trade Expo series on Monday that Investment Fiji Expo will push for opportunities to attract potential investors and exporters to take advantage of Fiji’s premium brands ranging from health and cosmetics, food and beverages, fashion and apparel, manufactured goods, primary industries and business process outsourcing.

According to the minister, the primary focus is on the markets of countries such as Australia, New Zealand, Japan, China, Indonesia, the United States and Europe.

The minister said the island nation is tapping into these opportunities in a bid to boost its connection with buyers across the world.

COVID-19 has had a serious impact upon Fiji’s economy which contracted by 19 percent last year.

Over the past years, as an island nation with a population of around 900,000, Fiji has carried out reforms to attract foreign investment, including the investment from China.

Direct foreign and local investments generated 613 million Fijian dollars (about 300.6 million U.S. dollars) for Fiji’s economy from August 2018 to May 2019.

A total of 277 Chinese investment projects worth about 2.36 billion Fijian dollars (about 1.2 billion U.S. dollars) has been successfully implemented in the island nation over the last five years.

(Source: Xinhua)

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