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Concerns Over Low Percentage Of Chinese Investment Implementation In Fiji

While Chinese investment registrations continue to increase, concerns have been raised about the low percentage of implementation of these projects. This comes as a number of multi-million-dollar Chinese projects have
31 Aug 2016 10:48
Concerns Over Low Percentage Of Chinese Investment Implementation In Fiji
Low Percentage

While Chinese investment registrations continue to increase, concerns have been raised about the low percentage of implementation of these projects.

This comes as a number of multi-million-dollar Chinese projects have been announced by no further progress has been noted.

Minister for Industry, Trade and Tourism, Faiyaz Siddiq Koya, highlighted this yesterday during the Seminar and Exchange Meeting at The Warwick Fiji.

He was addressing members of a Chinese delegation, Ambassador of the People’s Republic of China, Zhang Ping and our senior Government officials and private sector representatives.

“It is important to note in 2015, the total value of Chinese implemented projects represented only 18 per cent of the total value of all the projects implemented in Fiji,” he said.

The numbers don’t look too good when you see that in 2015, 41 per cent of total investment projects registered in Fiji were Chinese projects.

Mr Koya further stated in the first six months of this year, figures reveal that 45 per cent of projects registered with Investment Fiji were from China.

“Most Chinese investments are in the services and wholesale retail sectors,” he said.

 

Trade and tourism

On the other hand, Mr Koya we have witnessed increase in imports and tourists from China.

“Imports from China have increased from $210 million in 2010 to $623 million in 2014,” he said.

“Fijian exports to China have increased from $5 million to $37 million in 2014, but remain comparatively low.

“Tourist numbers from China to Fiji has been increasing year-on-year. Over the past 7 years there has been a tenfold increase, that is, from 4,087 in 2009 to 40,174 visitors in 2015.

“In the first seven months of 2016, visitor arrivals from China has exceeded the 2015 numbers by 30 per cent.

“And we look at this number to increase further, especially with the large scale Chinese investors in the tourism sector in Fiji.”

Mr Koya did stress for the need to focus on Fijian exports to China and ensure that trade flows both way, from China to Fiji and vice versa.

“The Fiji-China relations over the years have strengthened, especially through trade and investments,” Mr Koya said.

“Today we encourage and look forward to strengthen our relationship with China connecting business and encouraging trade between the two countries.”

Edited by: RACHNA LAL

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