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Fareed Calls For Growth And Export Focussed Budget

An executive highly-engaged in our business world believes the 2016 National Budget needs to be growth-oriented and export-focussed. We interviewed Nouzab Fareed, who is the chief executive of Fijian Holdings
23 Oct 2015 12:18
Fareed Calls For Growth And Export Focussed Budget
Nouzab Fareed, chief executive of FHL Group.

An executive highly-engaged in our business world believes the 2016 National Budget needs to be growth-oriented and export-focussed.
We interviewed Nouzab Fareed, who is the chief executive of Fijian Holdings Limited Group and the President of the Fiji Papua New Guinea Business Council.
He is also the President of the Fiji Institute of Accountants.
Mr Fareed feels there should be more incentives introduced for foreign investment as well as investment made by local companies.
“There is a need to assist build an export-based manufacturing sector as well,” he said.
“There is also a need for export/State assistance for export-based organisations in various forms.”
Mr Fareed also suggested that the Duty Suspension Scheme should support export companies that export part of its production.
Currently, this is applicable only for 100 per cent exporters.
In terms of key areas for Government to prioritise its spending in, Mr Fareed said these should be infrastructure, health, education as well as tourism.
He noted there was a positive impact from the 2015 Budget and similar hopes are from the next budget announcement.
Government this year conducted consultations all around the country for the 2016 National Budget.
Mr Fareed described this as “the way to go”.
“Consultations would lead to consensus thereby creating a more collective approach towards national development,” he said.

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