SUNBIZ

New Chinese Hotel Investment On Coral Coast Launching Soon

The Chinese delegation currently in Fiji on an exploratory mission are looking for long-term investments in the country. The Head of the Chinese Delegation, Yushu Chen, highlighted this yesterday at
27 Jul 2016 11:44
New Chinese Hotel Investment On Coral Coast Launching Soon
Minister for Industry, Trade and Tourism Faiyaz Koya with Chinese Investors at GPH in Suva yesterday. Photo: DEPTFO

The Chinese delegation currently in Fiji on an exploratory mission are looking for long-term investments in the country.

The Head of the Chinese Delegation, Yushu Chen, highlighted this yesterday at the Grand Pacific Hotel in Suva.

The Guangdong Silkroad Ark Hotel project, a proposed Chinese investment here, is expected to be launched soon.

This was confirmed by the Permanent Secretary for Industry, Trade and Tourism, Shaheen Ali, yesterday.

Mr Ali was speaking at the Inaugural Fiji-China Business Exchange Summit and Trade and Investment Seminar at the Grand Pacific Hotel in Suva.

The multi-million-dollar project will see the construction of a hotel near Komave Village along the Queens Road on the Coral Coast.

The project is a result of successful facilitation by the Ministry during a trade and investment mission to Guangdong, China, in January this year led by Minister Faiyaz Siddiq Koya.

A cooperation agreement was agreed at the time between Silkroad Ark Investment and Wyndham Hotel. Thus the hotel will be built by Silkroad Ark Investment and managed by Wyndham.

Mr Ali further told the delegates the Ministry is developing a tourism development plan that will guide the overall investments in the tourism sectors.

“There are number of opportunities available for investment in the accommodation and tourism related activities,” he stressed.

In addition, Mr Ali revealed to further bolster the trade and investment between the two countries, Fiji and China are undertaking a Joint Feasibility Study on the possibility of establish a trade arrangement between the two countries.

 

Chinese investment here

Meanwhile, Mr Ali further noted the changing dynamics of Chinese investment here.

“In the past, most of the Chinese investments were concentrated in the services, wholesale and retail sectors,” he said.

“However, there are now multiple opportunities that are available for foreign investors.

“Some of these sectors include, agriculture, and agro-processing, particularly in organic agriculture, farming and animal husbandry, including dairy.

“Fiji also has all the advantages to provide back office support to international businesses on IT and other business processing solutions, with well qualified, skilled and English speaking young work-force.

“Fiji is the also the regional hub for light manufacturing, a sector which supplies a number of products to the Pacific Islands Countries and Australia and New Zealand.

“In the tourism sector, opportunities exist in sustainable tourism and eco-tourism. Our vibrant Film sector has already generated a very successful Chinese production, ‘Where are we Going Dad’.”

 

Edited by: RACHNA LAL

Feedback:  kathrin.krishna@fijisun.com.fj

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