Business

Increased investment brings more jobs

By RACHNA LAL A healthy growth in investment activity the past year has augured well for the labour market with more employment opportunities being created now. The Reserve Bank of
06 Mar 2014 12:16

One of the recent investments being undertaken is the Nanuku Resort development near Pacific Harbour.

By RACHNA LAL

A healthy growth in investment activity the past year has augured well for the labour market with more employment opportunities being created now.
The Reserve Bank of Fiji’s Job Advertisement Survey noted the number of vacant positions advertised increased annually by 14 per cent in January 2014.
When compared with the same period a year ago, the central bank had then noted only a one per cent increase.
The Reserve Bank said this outturn was mainly led by the manufacturing sector.
In the February Economic Review, the Reserve Bank highlighted investment is likely to remain robust in the medium term as evidenced by the latest partial indicators.
“Domestic cement sales expended by 20 per cent in 2013, indicting buoyant construction sector activity,” it said.
Complementing this, new bank loans for investment purposes rose significantly by 109 per cent to $251.4 million in 2013.
Cumulative to November 2013, imports of investment goods rose strongly by 27 per cent.
Reserve Bank’s December Business Expectations Survey results indicates private sector investment in plant, machinery and new buildings will remain strong over the next twelve months.

Growth prospects
In the February Economic Review, the Reserve Bank noted partial and forward looking indicators continue to present an encouraging growth scenario for Fiji.
“Growth is expected to be broad based in 2014 with most real sectors of the economy envisaged to maintain their 2013 growth momentum into the year,” the report said.
“Consumption and investment spending remain resilient.
“Aggregate demand indicators remained strong in the review period and are expected to continue to drive growth and Government revenue this year.”




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