SUNBIZ

Japanese Investors Urged To Invest Here

A group of potential Japanese investors currently in Fiji have been urged to seize the opportunity and start looking at investing in Fiji. Minister for Industry, Trade and Tourism, Faiyaz
02 Dec 2015 08:15
Japanese Investors Urged To Invest Here

A group of potential Japanese investors currently in Fiji have been urged to seize the opportunity and start looking at investing in Fiji.

Minister for Industry, Trade and Tourism, Faiyaz Siddiq Koya, made these comments yesterday during the 2015 Japan Trade and Investment Mission Seminar.

The seminar was held at the University of the South Pacific’s Japan-Pacific ICT Centre.

Mr Koya noted that sadly, Japanese investment in Fiji was lagging behind.

“Recent trends have indicated Japanese investment in our country is declining. In 2014, only one Japanese investment was registered, valued at $250,000,” he said.

“Over the past five years, only eight projects valued at $1.67 million have been registered with Investment Fiji.

“This is well behind other countries when it comes to tapping investment opportunities in Fiji.”

Therefore, Mr Koya said missions like this were a positive sign of exciting times ahead in the Fiji-Japan relations.

Mr Koya noted this was the first time that Fiji was hosting a full-fledged trade and investment seminar with Japanese investors.

“This is an important opportunity to share experiences and ideas in order to strengthen bilateral trade and investment relations between Fiji and Japan,” he said.

 

Trading aspect

On the other hand, Fiji continues to enjoy trading ties with Japan with strong performances in trade balance recorded for certain periods in the past five years.

Mr Koya said trade between Fiji and Japan has grown by 30 per cent for the period 2010 to 2014, that is, from $200.6 million to $262.5 million.

“Since 2013, the trade balance has been in favour of Japan due to the decrease in exports of wood chips from Fiji,” he said.

“Therefore, there is significant potential to further grow trade between the two countries.

“There is potential for niche products, such as mineral water, beauty and health care products, virgin coconut oil, noni and noni juice, and fashion clothing, organic tropical fruits and vegetables in the Japanese market.”

Feedback:  rachnal@fijisun.com.fj

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