NEWS

WHAT BUDGET MEANS TO YOU-Convention, Casino Returns For FNPF Members: A-G

The Fiji National Provident Fund has been given an exclusive casino licence under the 2017-2018 National Budget. Attorney-General and Minister for Economy Aiyaz Sayed-Khaiyum announced this during the budget announcement
01 Jul 2017 09:49
WHAT BUDGET MEANS TO YOU-Convention, Casino Returns For FNPF Members: A-G
Jenny Seeto and Dixon Seeto,President of the Fiji Hotel and Tourism Association after the 2017-2018 Budget announcement in Parliament on June 29, 2017. Photo: Ronald Kumar

The Fiji National Provident Fund has been given an exclusive casino licence under the 2017-2018 National Budget.

Attorney-General and Minister for Economy Aiyaz Sayed-Khaiyum announced this during the budget announcement on Thursday.

A convention centre is expected to be built by April, 2019.

Mr Sayed-Khaiyum said FNPF is going to make such a large investment in the market from which its 340,000 members will benefit from.

“The reason they have been given the casino license is because they are making a huge investment in the convention centre which is about $90 million.

“FNPF has also informed us that their focus is to build a new convention centre which can host up to 4000 people.

“From our mutual discussions with them they will seek international partners for the management of the casino.

“The members of FNPF will benefit from this project directly as it’s a better investment opportunity and means it will get a better return,” Mr Sayed-Khaiyum said.

“We do not have the ability to host large conventions or events but now we have the opportunity to be able to host large events and conventions.

“We will have the ability to host concerts, international boxing matches and many more.

“A large facility and casino feeds into each other.

“This is another investment opportunity for them.

“The better return FNPF gets, the more money in your funds,” Mr Sayed-Khaiyum said.

Edited by Ranoba Baoa

Feedback: ashna.kumar@fijisun.com.fj


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