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Fresh new look for investing in Fiji

Date: 26 Oct, 2015

Investment Fiji is now embarking on a new era that will see positive changes impacting on the business climate in Fiji for foreign investors.

Investment Fiji Chief Executive Officer, Mr Godo Müller-Teut said changes were taking place that would change the mindset from the old to the new.

“Fiji offers diverse investment opportunities and has a stable political environment that encourages economic growth and development. The continued investment in infrastructure, education and training of our workforce all have implications not only for the attractiveness of Fiji as location to investors, but also for the quality of inward investment, with Investment Fiji witnessing a growing interest from large multinationals”, he said.

Investment Fiji now features three divisions; Investment Promotion, Investment Facilitation, and Trade and Export Promotion. The divisions’ role while different are complementary in nature.

The task of the Investment Promotion Division is to attract Foreign Direct Investments (FDI) into Fiji. In other words, promoting to potential investors that Fiji is THE destination for business.    

 It is important that we set objectives that allow for a targeted strategy in order to attract investment most effectively and to prioritize our limited resources. The purpose of attracting FDI is to create employment and joint venture opportunities for local firms as well as providing access to capital.

“Importantly, inward investment also allows for knowledge, technology and IP transfer. This is of particular importance in the agriculture sector where modern production systems, nutrition and livestock R&D will allow for more efficient farming and crop production and thus reduce the dependence on imports”  Mr Müller-Teut said.

Investment Fiji helps to identify the ideal fit between the economic benefit of Fiji and the business opportunity for the investor, by providing general and customised reports on Fiji investment opportunities, costs and regularity processes for investment. Further, Investment Fiji assists investors and delegations by identifying potential investment targets and arranging suitable meetings and introductions. Moreover, successful investment promotion requires clear strategic direction and effective marketing.  At Investment Fiji, we market and promote Brand Fiji. 

No matter how effectively Investment Fiji markets its location and generates leads, this is unlikely to result in actual projects unless there is effective project facilitation. The purpose of the Investment Facilitation division is therefore to convert an investment enquiry into an actual investment.

Investment Fiji enables and assists investors in establishing their business by issuing the Foreign Investment Registration Certificate, and providing information, support and assistance during the growth phases.

“We have recognised that a customer centric approach is essential to generating a deeper understanding of the investors’ business goals. Knowing our investors is the foundation of our success, we need to understand who they are and where they want to go in order to build and deliver our support programs” the CEO said.

An on-line registration system has recently been launched that allows foreign investors to register their project in Fiji, irrespective of their physical location. The Single Window Clearance System for investment registration not only expedites the processing time, but it also allows for greater levels of transparency as investors are able track and monitor the progress of their applications across all agencies.

“A major cornerstone of our Trade & Export Strategy are capability support programs designed to build up the capacity of exporters through training and enterprise development as well co-operation between focused suppliers. By helping local exporters to upgrade and become first-tier suppliers, it is anticipated that this will improve the attractiveness of Fiji to inward investment, increase local sourcing and embed investors by raising their exit costs and providing a compelling long term business proposition.

I am confident that the roles of the new divisions will work with mutual benefits to the investor and Fiji and we will continue this journey with great dedication in order to allow for a collaborative, integrated and even more efficient way of doing business in Fiji”.