Investment Fiji yesterday took its first step on its transformational journey towards becoming purely a Trade and Investment Promotion Agency.

Investment Fiji hosted a Strategic Planning Workshop, at the Grand Pacific Hotel in Suva, where the board chair Jenny Seeto highlighted that the participants assembled were captains of industries, Government agencies and Government officials.

Investment Fiji chief executive officer Craig Strong said over the coming months, as Investment Fiji transitions into an investment and trade promotion agency, so as its mandate.

“Our revised mandate will be twofold.”

“One to increase the success of Fijian businesses globally.”

“And to match high value investment capital with Fijian businesses and investment opportunities.”

We will move to being measured on the trade revenue we generate, and the investment outcomes we produce.”

He said to achieve that, Investment Fiji’s revised services would be firmly anchored on the needs of exports and investor customers.

He said their work would focus on three key pillars:
– Trade Development Programs
– Investment Matching
– Investment Project Management

Seated from the left: Investment Fiji Board Chair – Jenny Seeto, Australian High Commissioner to Fiji – John Feakes, Minister for Commerce, Trade, Tourism and Transport – Faiyaz Koya and Investment Fiji Chief Executive Officer – Craig Strong.

Strategic Plan
Meanwhile, Minister for Commerce, Trade, Tourism and Transport said the objective of the workshop was to provide participants a backdrop for development of a refreshed strategic plan.

“In this period, we are continuing reforms that promote Fiji as a competitive and preferred investment destination,” he said.

He added the role of Investment Fiji was that of an investment promotion agency.

“They cannot continue on the current path, where they play the role of a facilitator, a regulator, a police and a border protector.”

He said through the transition into becoming a Trade and Investment Promotion Agency, Investment Fiji will focus on the core competency of attracting the right investments and investors that will enable diversification and achievement of the country’s development goals.

“Their resources need to be utilised in a manner which achieves the maximum benefits for the nation as a whole.”

Mr Koya highlighted Investment Fiji must proactively pursue desirable investors and multinationals that will bring benefits to Fiji and Fijians.

“Whilst Investment Fiji’s new role will focus on attracting foreign direct investments, they will also focus on investment generation, investor facilitation, investor aftercare, export – promotion and policy advocacy.”

“This essentially means, Investment Fiji will now focus on three key components, Investment Matching, Investor Services and Trade Development, which will result from attracting “efficiency-seeking” investors.”

“This will enable them to derive new focus towards market discovery, capacity building, identify and connect customers with capital and connecting investors with key industry associations.”

He said the workshop was a culmination of a reform journey Investment Fiji had undertaken.

Over 60 participants representing the Government, donor agencies and the private sector attended the one-day workshop in Suva.

Mrs Seeto gave her sincerest gratitude to the Australian Government Funded, Market Development Facility for their collaboration.

“This is an example of where we can see the principle of the Vuvale partnership in action.”

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