Investment promotion workshop to boost staff and stakeholder knowledge
Investment Fiji is developing and strengthening the skills and knowledge of its staff through international partners to attract efficiency seeking investments into Fiji after transitioning into an Investment and Trade promotion agency on 1st August, 2022.
As part of this capacity building, Investment Fiji with the support of its global partner, International Finance Corporation (IFC) hosted a two-day Sector Targeting and Investor Outreach workshop, not only for its staff but representatives from Outsource Fiji and Market Development Facility (MDF) in Suva on the 5th and 6th of October.
The workshop targeted key areas which would improve staff’s efficiency in capitalizing on key development opportunities, these included sharing key trends and advances shaping the world of FDI, understanding how a location’s investor offering is best articulated as well as the entire investor outreach process.
Participants also had the experience to learn from tried and tested techniques, best practices and pitfalls to avoid, as well as setting the scene for continued IFC engagement with Investment on Investment Promotion, and to discuss next steps and activities.
Investment Fiji Chief Executive Officer Kamal Chetty said, it was a great opportunity to strengthen the staff’s knowledge on investment promotion and how the team can escalate investments in Fiji.
“It also helped enhance capacity development to undertake the next phase of implementing our strategies to be an effective agency, to capitalize on the opportunities and developments projects,” said Chetty.
Australian High Commission, First Secretary Susannah Hodson while delivering her opening address said, organisations such as Investment Fiji, IFC, MDF and Outsource Fiji, have played a crucial role in supporting Fiji's economic growth, most notably economic recovery post-pandemic.
“We are very encouraged with the number of Australian businesses that have already established or those that have selected Fiji as an investment destination in recent years.
“There has been a shift beyond traditional tourism investment to an understanding of Fiji's other opportunities, particularly around outsourcing, ”she said.
The workshop was conducted by World Bank Investment Promotion Specialist, Dan Nicholls and Investment Promotion Workstream Leader, Armando Heilbron who brought a wealth of international experience and knowledge.
Nicolls said there were significant opportunities not only to attract Foreign Direct Investments (FDI) in the Business Process Outsourcing but in other sectors such as manufacturing, tourism and agribusiness as well.
In her closing remarks, IFC Manager, East Asia & Pacific, IFC Regional Advisory Service - Creating Markets, Paramita Dasgupta commended Investment Fiji for its ongoing reforms including its recent transformation toa full-fledged promotion agency.
“Weat IFC are very pleased to have been part of this reform journey and will continue to support Investment Fiji in proactively pursuing and attracting investment in high priority sectors through effective planning, lead generation, lead qualification and execution of campaigns,” she said.
Investment Fiji will be collaborating with IFC and the World Bank, MDF, Outsource Fiji and other partners for the implementation of its new strategic plan that focuses on investment and trade promotion.