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Untapped Opportunities With New Caledonia Being Explored

Being a Pacific hub, Fiji can act as an ideal re-export centre for New Caledonian businesses to supply products and services to the rest of the Pacific, Investment Fiji believes.
04 Feb 2016 09:54
Untapped Opportunities With New Caledonia Being Explored
New Caledonia

Being a Pacific hub, Fiji can act as an ideal re-export centre for New Caledonian businesses to supply products and services to the rest of the Pacific, Investment Fiji believes.

Investment Fiji chief executive, Godo Müller-Teut, made this comments as a wrap up of the 2015 MSG Investment Roadshow and Trade Fair held late last year in Noumea.

While language used to be a constraint previously, Mr Müller-Teut said with French-owned BRED Bank’s presence in Fiji and the French Embassy, advice can be provided both in English and French to potential investors.

“Potential investment opportunities span across a number of sectors, such as fisheries where New Caledonian businesses have developed sophisticated prawn and shrimp farms,” he said.

“Fiji’s favourable climatic conditions, a growing demand, and a competitive labour market are some factors that work in our favour.

“Other potential business prospects include the garment industry, mahogany, and the mining industries.

“This is where New Caledonia offers the technical capability in carrying out development projects and potential joint ventures.”

Bred Bank Fiji chief executive, said the challenge would be to witness the set-up of at least one common business project in Fiji as a pilot.

“It has already happened in the past but, if we can have new businesses from New Caledonia to set up operations in Fiji and see how it’s faring, that will be the determining factor for others to follow suit,” he said.

 

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Deputy Head of Mission of the French Embassy in Suva, Jules Irrmann, said New Caledonia is the regional base for a number of French multinational corporations whose expertise and global experience could benefit Fiji.

“In terms of economic gains and benefits, New Caledonia has a higher GDP per capita than in New Zealand and important French companies are already based in Noumea,” he said.

“Some of them are world leaders in their specialities like Suez, Colas and renewable energy specialists like Quadran and Vergnet Pacific. They are part of world renowned groups. They are familiar to the Pacific Island environment and can bring adapted cutting edge technology in Fiji.

“Given the neighbouring advantages that Fiji and New Caledonia can benefit from, the expansion and establishment of further investments in Fiji are significant catalysts for economic growth and employment opportunities for both countries.

“Fiji has the potential to improve its investment climate in collaboration with New Caledonia. The opportunities are obvious.”

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