SUNBIZ

Khan Stresses Need To Increase Foreign Capital Inflow Here

While investment is growing in the country, a renowned businessman has stressed the need to increase capital or foreign monies coming in. Hafiz Khan, the chairman of the Hexagon Group,
15 Oct 2016 11:00
Khan Stresses Need To Increase Foreign Capital Inflow Here
Hexagon Group Chairman Hafiz Khan(blue shirt) and Roslyn Khan(yellow top) with participants at the Top Executive Conference with the theme Expanding the Possibilities:A sustainable and Resilient Nationa at Sofitel Fiji Resort and Spa in Nadi yesterday. Photo:Litia Tikomailepanoni

While investment is growing in the country, a renowned businessman has stressed the need to increase capital or foreign monies coming in.

Hafiz Khan, the chairman of the Hexagon Group, highlighted this yesterday during the 2016 Top Executives (TOPEX) Conference at the Sofitel Fiji Resort and Spa on Denarau Island.

He is also a past President of the TOPEX organiser, Fiji Commerce and Employers Federation and a recently-appointed Trustee of FCEF.

Mr Khan acknowledged that local investors continue to invest in new projects. However, he raised concerns about some of the foreign investments.

He said he had noted ground-breaking ceremonies taking place for foreign projects, cocktails taking place, and yet, there are many foreign projects which have till date not materialised.

“Most investment we see is from money channelled from within. What we do need is new money and new capital,” Mr Khan said.

“What we need is to say to foreign investors is we can be trusted with your money.

“Fiji is 90 per cent vision and 80 per cent failures. You have ground breaking ceremonies, cocktails, but if you go back and check, there is nothing materialising.

“We need to be in that capacity to go in the real world and make this happen.”

 

Being sustainable

Mr Khan, who was the chief guest for the conference, stressed that the challenge facing us is the need to be more sustainable rather than resilient.

He agreed we are vulnerable to catastrophes due to our location and resilience is needed, but the buzz word all around the world right now is ‘sustainable’.

“It is how you are able to survive on your own – going back to basic and core theories,” he said.

Mr Khan said one of the challenges facing our economy and people was how to manage this.

He stressed we are in an era of a new Fiji and there are many people who support the new Fiji. Indeed he noted the new Fiji has a lot to offer.

Mr Khan said the confidence was obvious with the number of people returning to Fiji who have not come back for two or three generations.

“They want to have a second home here.
“But these present challenges and a mix of challenges at that,” he said.

Mr Khan said there are challenges for those living here and then there are challenges for those coming back to call this their second home.

And this is why, he said Fiji needs the new capital to be able to be sustainable when it comes to accommodating these people.

Feedback:  rachnal@fijisun.com.fj

 

 

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