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Transport, Catalyst For Economic Growth

The transport sector can be the catalyst for the much needed economic growth that Fiji is aspiring to. These were the words of Reserve Bank of Fiji acting chief manager
14 Nov 2014 07:17
Transport, Catalyst For Economic Growth

The transport sector can be the catalyst for the much needed economic growth that Fiji is aspiring to.

These were the words of Reserve Bank of Fiji acting chief manager Economics Shelvin Karan at the start of the 13th Fiji National Transport Consultative Forum.

With 4.6 per cent economic growth exceeding expectations the past year, Government is more than ever working towards a five per cent and above growth annually going forward.

Mr Karan conducted a concise economic outlook based to the stakeholders of the transport industry in Fiji.

“The transport sector is very integral into all factors of production,” Mr Karan said.

“It is important that we a have clear policy direction on how to mitigate the challenges that the positive growth outlook will bring for the transport sector.

“Additionally, so that Fiji too understands how the transport can contribute better by increasing productivity in all the sectors.”

Fiji’s transport sector contributes between 10-15 per cent of Gross Domestic Product.

“There has been positive economic growth. Five years of economic growth. We believe that the next two to three years shouldn’t be any different,” he said.

“So expectations raises demand and the transportation sector needs to be ready to meet the demand for the new vehicles that people will buy, demand for parking, demand for roads, demand for ports.

“And efficient, clean and well-connected transport sector can be a catalyst for sustaining development that we’re aspiring to for many years.”

Feedback:  ranobab@fijisun.com.fj

 




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