‘Fiji On Recovery Track’

Fiji is on track to an improved recovery against the backdrop of global economic challenges, the central bank says.
Reserve Bank of Fiji deputy Governor Petaia Tamara yesterday spoke about improved sentiments, and the need to continue to build on momentum.
Inflation was not expected to dampen world trade efforts, while global tourism was forecast to rebound to pre-COVID level, Mr Tamara, said.
But a global recession in the next 12 months is almost inevitable, the Reserve Bank of Fiji said in its presentation at the Construction Industry Council 2022 annual conference and tradeshow, at Warwick Fiji.
Mr Tamara said the construction sector mattered to economic performance.
Based on superannuation data, the construction industry employs 10,000, against the post COVID-19 figure of 13,000.
Meanwhile, a moment of silence was observed at the opening of the Construction Industry Council’s 2022 annual conference and tradeshow yesterday, as delegates paid tribute to the late Queen Elizabeth II for decades of service as head of the British Crown.
In another development, council president, Gordon Jenkins, said developers were holding back on furthering investment interests in Fiji on account of 2022 being an election year.
“There is a hiatus at the moment as the industry awaits some direction with the national elections,” he told a room full of delegates from around the country.
Delegates were urged to bring in more industry members for the sake of strengthening numbers, and to synchronize industry efforts.
The two-day conference, which served as an educational and networking effort for council members, was also encouraged to always have a contract in writing.
“The Construction Industry Council sells those contracts, available in Japanese, for Australia and New Zealand; not ones like the back of a cigarette pack that is easily tossed away,” Mr Jenkins said.
OHS
Occupational Health and Safety law, which he said was not followed in Fiji, was also addressed during the conference by New Zealand presenter, Jessica Van Slooten, of Fletcher Construction.
Feedback: frederica.elbourne@fijisun.com.fj