Fiji eyes high-income status by 2050, says Finance Minister

Biman Prasad urges bold reforms and private sector collaboration to achieve ambitious economic goal.

Friday 10 October 2025 | 00:00

GPH Launch

From left: Minister for Finance Biman Prasad and Toto & Co managing director Greg Thompson during the launch of the Koro Fiji and Tabua Tower projects on October 9, 2025.

Photo: Laiseana Nasiga

Deputy Prime Minister and Minister for Finance Biman Prasad says Fiji has the ambition of becoming a high-income country by 2050.

Speaking at the launch of the $270 million Koro Fiji and Tabua Tower projects last night, Mr Prasad said the goal was doable and within reach.

“Some people think it's pie in the sky, but we are saying very clearly, it’s doable, it’s within our reach, but business as usual is not going to do,” he said.

Mr Prasad said the Government needed to recognise that creativity, entrepreneurship and wisdom resides in the private sector and innovators outside government.

“It is government’s job, government’s duty to work with our private sector.

“And that is precisely how we as a government have worked over the last more than two-and-a-half years,” he said. 

‘Another economic summit’

The Finance Minister said the Government was planning another economic summit early next year to share plans with the private sector, entrepreneurs and businesses.

He stressed the importance of changing the practice of politics to support economic growth.

“We are making sure that there is freedom, there is ability within government to reach out to the private sector and work in a collaborative way so that we can realise and support projects of this nature,” Mr Prasad said.

The vision is outlined in the government’s National Development Plan, which includes three-year, five-year and 2050 projections.

Mr Prasad said achieving high-income status would require the Government to lift its game and collaborate more closely with private sector partners.



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