SUNBIZ

Fiji – Queensland Dialogue

Prime Minister Voreqe Bainimarama will lead a high-level delegation to attend the Fiji-Queensland Trade and Investment Symposium at the Stamford Hotel in Brisbane on 20 July 2017. This was highlighted
28 Jun 2017 11:08
Fiji – Queensland Dialogue
Prime Minister Voreqe Bainimarama during the 2016 Trade and Investment Symposium.

Prime Minister Voreqe Bainimarama will lead a high-level delegation to attend the Fiji-Queensland Trade and Investment Symposium at the Stamford Hotel in Brisbane on 20 July 2017.

This was highlighted in a statment by the Consulate General of the Republic of Fiji Islands yesterday.

With the theme, ‘Building a Resilient Fiji-Queensland Economic Partnership”, the symposium aims to promote two-way business, trade and investment opportunities, targeting the information and communications technology (ICT), mining, and agriculture sectors.

Fiji offers attractive incentive packages in these sectors.

For instance in the ICT sector, income tax exemption is available to investors whose business employs 50 employees; and 60 per cent of its total services is exported.

In addition, there are existing Tax Free Regions in Fiji that offer tax and duty exemption with a maximum level of investment of $F250,000.

In the mining sector, current commodity prices like gold ($USD1243.7/oz/$F516,000) have attracted potential mining investors to explore for potential mineral deposits including offshore deep sea minerals, oil and gas.

The geographical and geological setting of Fiji at the edge of the Indo-Australian plate has attracted multinational exploration companies to invest and prospect for potential mineral deposits including silver, manganese, base metals (copper, zinc, bauxite, phosphate), industrial minerals (marble, limestone), and placer materials mineral sands (magnetite, hematite, ilmenite, rutile, zircon, topaz etc).

In the agriculture sector, some of the incentives include for those investors that set up a new activity in commercial agricultural farming and agro-processing approved from now till 31 December 2018 will qualify for tax exemption if capital investment is from $FJD250,000 and above between the range of 5 to 13 consecutive fiscal years. These investors who also import agricultural items will be subject to zero duty.

Fiji’s Minister for Industry, Trade, Tourism, Lands and Mineral Resources Faiyaz Koya is hosting the event.

Two notable features of the programme are: the informal get-together or “talanoa” session to be hosted by the Fijian Prime Minister with the Fijian community; and the inspirational talk to be given by former Australian Fijian professional rugby league player Petero Civoniceva.

Delegates expected to attend the trade meet are from leading Australian businesses from these sectors, and senior representatives from the Queensland and Federal Governments.

Mr Bainimarama will be accompanied by the Minister for Agriculture, Inia Seruiratu; the Permanent Secretary for the Ministry of Industry, Trade and Tourism, Shaheen Ali, the CEO of Investment Fiji, Godo Muller-Teut, and the Engineer Mines of the Ministry of Mineral Resources, Marika Ritova.

Included in the Fijian delegation are representatives from the private sector such as Vodafone Fiji, Paradise Beverages, and Pacific Centrecomm.

The Fijian Government, through the Consulate General and Trade Commission in Sydney and the Fijian High Commission in Canberra, in partnership with the Australia-Fiji Business Council, is demonstrating that Fiji has more to offer than just being a unique tourist destination and Australian investors are being encouraged to consider Fiji as a viable and ideal destination for ICT, mining, and agriculture investments.

Feedback:  ivamere.nataro@fijisun.com.fj

Fijisun E-edition
Tanoa Waterfront Lautoka Fiji
Subscribe-to-Newspaper
Fiji Sun Instagram
Fiji Plus
Subscribe-to-Newspaper
error: