SUNBIZ

Our Economy To Grow Despite Sluggish Global Conditions: A-G

The Fijian economy was expected to grow by up to three percent this year at a time when global conditions were generally sluggish. The comment was made by the Attorney
12 Dec 2016 10:45
Our Economy To Grow Despite Sluggish Global Conditions: A-G
Winners during the Westpac Prime Minister’s International Business Awards with Attorney General and Minister for Economy, Aiyaz Sayed-Khaiyum. Photo: DEPTFO.

The Fijian economy was expected to grow by up to three percent this year at a time when global conditions were generally sluggish.

The comment was made by the Attorney General and Minister for Economy Aiyaz Sayed-Khaiyum during the Westpac Prime Minister’s International Business Awards held at the Sheraton Fiji Resort on Saturday night.

“The outlook is equally buoyant with the Reserve Bank of Fiji forecasting 3.6 percent growth in 2017 and 3 percent in 2018 and 2019,” he said.

“Our trade with the region and the rest of the world continues to expand.

“Last year the total exports amounted to $1.87 million while our imports have actually been falling.”

Mr Sayed-Khaiyum said from 2013 up until last year, the total imports ha come down from $5.1 billion to $4.3 billion – a reduction of 15 percent.

“But there has been a rise in imports of goods for investment purposes, which is very encouraging and indicates solid investment activity in Fiji.”

“In a clear sign by both domestic and foreign investors, private sector investment in 2015 comprised 20.9 percent of GDP.

“The Fijian Trade Policy Framework has set a target of increasing this to 25 percent by 2020.

“So I encourage you all to seize the opportunities that the Government has created with iour consistent and forward looking policies.”

Mr Sayed-Khaiyum said stability has been entrenched by unifying the country and setting it on a new and more positive course.

PM’S INTERNATIONAL BUSINESS AWARDS – WINNERS LIST

Best Small Business Operating Internationally – South Pacific Elixers Ltd

Best Medium Business Operating Internationally – Foneology Solutions Ltd;

Best Large Business Operating Internationally – Sunergise Fiji Ltd;

Emerging Exporter of the Year – Green Gold Kava Dealers;

Re-Exporter of the Year – Asaleo Care;

Excellence in Innovation – Rosie Holidays;

Excellence in E-Commerce – Pure Fiji;

Service Excellence – Foneology;

Primary Industry Business Excellence – Ben’s Trading;

Excellence in Business Leadership – Trustworthiness;

Socially Responsible Business of the Year – Vodafone’s ATH Foundation;

Supreme Award – Rosie Holidays.

EDITED BY: KATHRIN KRISHNA

Feedback:  charles.chambers@fijisun.com.fj



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