China Registers Highest Investors In Fiji: Koya
For the past two years, China has had the most investors register and implement their projects in Fiji.
This was highlighted by the Minister for Industry, Trade, Tourism, Lands and Mineral Resources Faiyaz Koya while opening the investment seminar for Chinese Investors at Grand Pacific Hotel (GPH) in Suva, yesterday.
“In 2015, 41 per cent of total investment projects registered in Fiji were Chinese projects.”
Mr Koya said in the first six months of 2016, figures reveal that 45 per cent of projects registered with Investment Fiji were from China.
“The Fiji-China trade and investments relation has grown from strength to strength and will continue to build up on the solid foundation of growing political, economic, cultural and people to people relations,” he said.
“Therefore, we enthusiastically anticipate strengthening our relationship with China connecting business and encouraging trade between the two countries.”
Mr Koya said total investments in Fiji has been on an upward trajectory and continues to contribute 25 per cent and above towards the Fijian Gross Domestic Product (GDP).
“It is even more promising to note that private investments are increasingly becoming the key contributor to total investments,” he said.
“In 2015, private investments comprised 20 per cent of the GDP or 80 per cent of total investments respectively.”
Mr Koya said over the past seven years, Fiji has experienced one of its longest periods of sustained growth with an impressive growth rate of over four per cent on average.
“2016 has been a very challenging year for Fiji,” he said.
“Despite the negative impact of the Category Five Tropical Cyclone Winston in February, Fiji has been able to maintain a positive trajectory in the economic growth.
“The recently released figure, which has been endorsed by the Asia Development Bank, indicates that the Fijian economy will grow by 2.4 per cent this year.”
Mr Koya said this has been a remarkable achievement for Fiji, given the global growth trend is continually revised downwards.
“Such, has been the confidence of Chinese investors in the Fijian economy in the past few years, that China currently is our biggest source of Foreign Direct Investment.
“I therefore urge you all to seize this opportunity and join the many investors that have significantly benefited from profitable ventures and in turn have also contributed to the Fijian economy,” he said.
Bilateral Economic Relations
In terms of bilateral economic relations, Mr Koya said a positive growth in investment, trade and tourists from China has been witnessed.
“Imports from China have increased from F$210m in F2010 to F$636m in 2015,” he added.
“Fijian exports to China have increased from F$13m in 2010 to F$85m in 2015, but remained comparatively low.”
Mr Koya further said there is an increase in number of tourists from China coming to Fiji.
“Tourist numbers from China to Fiji has been increasing year-on-year.
“Over the past seven years, there has been a tenfold increase -from 4,087 in 2009 to 40,174 visitors in 2015.”
edited by: farzana nisha