Business

Investment Fiji hopes for more funding

By RACHNA LAL In the last couple of years, Investment Fiji has lifted its game significantly. Government has committed on increasing foreign investment in the country and Investment Fiji no
22 Oct 2012 10:17

By RACHNA LAL

In the last couple of years, Investment Fiji has lifted its game significantly.
Government has committed on increasing foreign investment in the country and Investment Fiji no doubt has the heavy burden to ensuring this happens.
But like anything in this world, funds are required to get things moving.
Therefore, Investment Fiji has requested Government for an increase in its operational grant in the 2013 National Budget.
Investment Fiji acting chief executive, Jhairud Dean, said: “Investment Fiji hopes to see an increase in the promotional allocation.
“This would allow us to effectively carry out our functions primarily mandated to promote, facilitate and stimulate trade and investments in Fiji.”
Mr Dean said increased budget would allow them to undertake activities such as trade missions, participation at foreign exhibitions, facilitation of local seminars, site visits for foreign projects and other operational cost.
He highlighted they have plans to undertake missions to USA, Australia, Japan and the South Pacific Countries to better target these markets next year.
“We understand there is a great potential for Fijian products in these countries and mounting a trade mission would allow us to achieve this objective,” he said.
“In the past we have been receiving a number of investment enquiries from these areas and we believe that by undertaking an investment mission would allow us to attract more foreign investments from the aforementioned countries.”
Mr Dean said the funding they got for 2012, through support from the Ministry of Industry and Trade, Investment Fiji was able to mount a trade and investment mission to Seoul, Korea and Abu Dhabi in United Arab Emirates this year.
“Because of our participation, a few companies in Fiji were able to secure buyers in these countries and have plans to export their first consignment early next year,” he said.
Mr Dean assured that Investment Fiji would continue in its efforts to promote economic development and increase the livelihood of our people through trade, investments and job creations.
The 2013 National Budget would be announced on November 23 at the Fiji Revenue and Customs Complex in Nasese, Suva.




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