The Ministry of Industry and Trade, together with Investment Fiji, has begun working on an online investment approval system.

This would allow foreign investors, and soon after domestic investors, to obtain approvals from all tier one investment approval agencies at a one-stop-shop.

The tier one agencies include Investment Fiji, the Reserve Bank of Fiji, Immigration, Fiji Revenue and Customs Authority as well as the Registrar of Companies.

This has been confirmed by the Permanent Secretary for Industry and Trade, Shaheen Ali.

“This will significantly help to improve the ease of doing business and will promote Fiji as a very modern and friendly investment destination,” he said.

Mr Ali made these comments as he opened the Top Executives (TOPEX) 2014 Conference at the Warwick Fiji Resort & Spa, Korolevu yesterday.

The theme of this year’s TOPEX conference is “2015 and Beyond: Accelerating Economic Growth”.

Mr Ali further assured top business executives and the business community in general that it will continue to undertake reforms to create an enabling and more conducive business environment to attract foreign investment.

Mr Ali challenged the participants to do more from their part.

“Apart from seeking answers on how you can benefit from Government policies, you also need to commit to nation-building,” he said.

“Never before has Fiji had so much potential. We are experiencing growth rates that will be the envy of the region and the world. And we are poised for even better economic performance.”

“What we need is a smarter, more strategic and more integrated approach from every sector to ensure our growth is driven from within and is inclusive.”

Other Assistance

Mr Ali confirmed the Fijian Government will also provide $1-million Micro-finance set-up Grants to small and micro enterprises.

This, he said, would be for those who intend to sell crops and other goods and services and that have difficulty in accessing finance from commercial lending institutions.

“Additionally, Government is in the process of implementing a new and fairer fee structure for small enterprises,” Mr Ali said.

“Under this structure, micro and small businesses will be exempt from paying fees to meet health, fire and occupational health and safety regulations.”

Mr Ali stressed Government has set the platform to accelerate to grow businesses and/or, expand respective corporations.

“The onus is now on you, the business community, to take advantage of the incentives and opportunities available. We want you to invest, reinvest, expand and diversify,” he said.

“As leaders in business, you’re seen as the role models for your smaller counterparts and you can contribute to the efforts of the Fijian Government to nurture and grow the micro, small and medium enterprises.

“Your contribution can be in the form of employment, skills attachments or internships, where possible sourcing Fijian-made or Fijian-grown raw materials and integrating small business into your business value chain.

“This will not affect your bottom line, but will allow for the growth of smaller businesses leading to consistent supply of raw materials, creation of new money circulation in the economy and the spin-off effect is increased sales of your products.”

Tangible outcomes

Mr Ali urged participants to come up with tangible outcomes during the two-day conference.

“Each of the eight sessions should at least come up with one recommendation each that can be taken forward to the Budget Committee by the Ministry of Industry, Trade and Tourism,” he said.

“The Ministry is the conduit between you and the Government. We will ensure that your suggestions are taken into account.”

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