Twenty-two thousand jobs were added to the labour market in the past six months, the Central bank announced.

But the formal employment numbers were still below pre-COVID levels, Reserve Bank of Fiji Governor, Ariff Ali, said.

His made the announcement at a power-breakfast for the Fiji Australia Business Council.

Business Expectations
A bank survey on business expectations indicated that business conditions were expected to improve over the next 12 months, Mr Ali said.

The number of participants that provided such positive feedback in was twice the ratio of last year’s survey, he said.

Half the number of businesses that participated in the survey said they would either employ additional part-time or full time staff in the next 12 months.

Meanwhile, Mr Ali said a double digit growth in 2022 was achievable.

He said a growth rate of 10 per cent to 12 per cent was close to the mark.

The general consensus from the breakfast meeting was one of optimism about the growing number of economic opportunities over the next decade.

Such developments would warrant the import of certain expertise, especially in labour intensive industries, such as the garment industry, said Performance Flotation Development managing director, Mike Towler.

“It is an exciting time to be looking at Fiji for new opportunities in the next decade,” he said.

Reserve Bank of Fiji Governor Ariff Ali

Employment
In another development, Mr Ali said the outlook on investment remained muted.

This, he said, was owed to a number of factors, including the usual wait-and-see approach, as the country approached the national general elections period.

According to Mr Ali, forward-booking in the travel sector was a positive measure of economic recovery, backed by strong foreign reserves and more than sufficient bank liquidity.

Warwick Pleass, Managing Director of Pleass Global Ltd. Photo: From File.

Fiji Australia Business Council
Council president Warwick Pleass said: “The sell-out event was so well supported it sold out and we launched online streaming too, which we will do for many major events from now on.”

“The unprecedented interest in ticket sales plus the extraordinarily high attendance percentage is indicative that there is a pent up demand for in-person business events.

“The FABC has resolved to play their part in reinvigorating bi-lateral trade between Fiji and Australia, in this period of emergence from the worse effects of COVID, and this breakfast speaker event will be followed by an evening cocktail reception event on March 17 and the famous Speed Networking Dinner in April.”

“But the biggest event to take place this year in the business calendar will be the Joint Business Councils Forum, normally held in Fiji every two years but not held here since 2018.”

“With invitations sent to the Prime Ministers of both countries and a broad and deep programme of high level speakers, we believe it too will sell out fast.”

“The date is not set yet, awaiting confirmation of the delayed Pacific Islands Forum leaders meeting.”

“We expect it to be confirmed for June, July or August.”

The council said Governor Ali’s outstanding presentation rounded out the RBF projections well and left participants in no doubt about where Fiji should end up in early 2023.

Trade Commissioner Lunter’s presentation summarized AusTrade’s plans and aspirations for 2022 and beyond, it added.

Feedback: frederica.elbourne@fijisun.com.fj