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Confidence in the manufacturing sector

Date: 06 Oct, 2015

Investment Fiji is confident that the manufacturing sector will achieve positive growth this year given its current trend.

It has been noted that current investors are expressing interest to diversify and expand into value-adding to their agriculture products, clothing and textile and construction materials. This is evident in the last five years when 93 projects were registered valued at over $375million.

Other sectors that have also generated interest from investors are Tourism, Services, Wholesale and Retail.

Investment Fiji is actively working towards making Fiji THE investment destination with the assistance of its stakeholder partners such as the Fiji Revenue Customs Authority via its attractive incentive packages.

For instance in the manufacturing sector, incentives are provided for those in the Food Processing, Forestry, Renewable Energy Projects and Power Co-generation industries.

Incentives include 100% of the amount of investment as a deduction for investing in food processing as well as forestry. Re-investment is also allowed for expansion purposes and in order to qualify the investor should utilize 50% of local produce in its production process.

A five-year tax holiday is available to a tax payer undertaking a new activity in renewable energy projects and power co-generation following approval by the Authority. Duty free importation of renewable energy equipment and goods is also available.  

In July, Investment Fiji had launched the online Single Window Clearance System which allows investors an efficient way of registering their interest to set up business in Fiji from anywhere in the world at a click of a button.

With one online application form, the investor is able to link to Investment Fiji, Registrar of Companies, Fiji Revenue Customs Authority, and Reserve Bank of Fiji for the necessary approvals at a significantly-reduced time frame of five days, from what used to be at least three months. For more information, please visit www.eservices.gov.fj  

Overall, Fiji’s positive economic growth is sure to attract more investors into the country.