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Does Fiji Have The Potential To Reach Reserve Bank Of Fiji’s 4.3 Per Cent Growth?

Does Fiji Have The Potential To Reach Reserve Bank Of Fiji’s 4.3 Per Cent Growth?
Anil Patel NEWWORLD Ltd, CEO (left) and Craig Strong Fiji-NZ Business Council, president
May 23
08:36 2015
Rajeshwar Singh
Bank South Pacific Fiji, CFO
Hasthika Dela
Fiji Ports Terminal Limited,
CEO
Craig Strong
Fiji-NZ Business Council,
president
Anil Patel
NEWWORLD Ltd, CEO
If we look at it, we’ve had a sustainable GDP growth for the past five years. What you’d notice is there’s a lot of activities happening in the economy on every level.
From infrastructure development, to reforms in the legal fraternity from the law side. You have the economic indicators that are there and employment numbers are coming up. In terms of the consumption, the tax numbers itself are actually indicating the economy is growing although it’s more tax-based.
After the elections in September last year, we have seen an influx in businesses which is expected. Fiji being the hub in the Pacific we are always expecting that there’s going to be inflows and outflows from every economic point of view. And of course winning the HSBC Sevens 2014/2015 Series is going to bring in a lot more tourists.
A lot of people back in London and other places are now trying to open the world map and see where Fiji is. And that’s great. So we have a huge potential in tourism, the literacy level of our country is there, the reforms the current Government has put in place from previous years it’s all going to yield us good rates. And if anything, I remember the PM (Voreqe Bainimarama) talked about a leap growth where one per cent growth he said ‘let’s go to five per cent and thereafter’ and we’re not far off.
The economy is not run by machines. People run it and it’s the positive mindset that should actually drive it because if we continue to be negative about such things, then we would definitely not get the response.
Fiji has a strong potential of achieving an economic growth more than four per cent in 2015.
The Government’s policy of a maintaining a transparent public management of the economy, providing a safe, stable and an attractive business and industry environment will be key to this.
With the private sector being the driving force in promoting growth in the economy, the emergence and progress of Small & Medium Enterprises, especially in the agriculture industry are signs of a growing economy.
The growth experienced in the export volumes is an indication that there is a reduction in the International Trade Deficit which becomes beneficial to the nation.
Looking at the economy, individual skills development is extremely important to create more jobs and reduce the poverty.
Yes I do sincerely believe this is achievable. With the current level of buoyancy in our economy, coupled with increased investor confidence we will get there. I also believe that with Investment
Fiji’s concise, admirable and pragmatic two pronged focus on larger scale FDI and export initiatives and ensuring that as business councils we work in collaboration in the execution of their prescribed strategy will further drive growth.
Of course. And its not only one industry per se, it’s going to be a combination of the entire basket to make it happen. And the way we’re going at moment, I think chances are high that we’ll get there.
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"I support it 200 percent, I am with FRU, the country and the people of Fiji. We want to bid to get one of the HSBC stops in Fiji."
Waisale Serevi
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