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Korean Research and Maritime Institute on a fact finding mission in Fiji

Date: 21 Feb, 2017
 Korean Research and Maritime Institute is exploring the possibilities of doing business in Fiji, particularly in the field of ship building and ship repair.

A 6-member delegation was in the country last week to undertake a survey research on investment opportunities in shipyard repairs.

Investment Fiji, through its Investment Opportunities and Promotion division facilitated the mission with site visits and one to one meetings with a number of ship building and repair companies, Maritime Safety Authority of Fiji and Ministry of Transport.

Investment Fiji Chief Executive Officer, Mr. Godo Mueller- Teut says the Institute hopes to forge possible joint ventures or new business ventures in the country.

“The meetings between the Institute and ship repair and building companies were successful. The delegation was informed about how the Fijian Government is assisting investors with its policies and incentives as well as how established companies are making the most of the opportunities at hand here,” he said.

Mr. Mueller- Teut says given Fiji’s location as the hub of the Pacific, there is a huge investment potential in such areas in the country.

“Being in the centre of the Pacific, Fiji has a well-established shipping network in region. We offer convenient connections between Pacific Islands countries and Australia and New Zealand. Fiji offers the pathway for trade in the region and this is our greatest strength”

 Fiji’s domestic shipping routes are also very well maintained, however there is always rooms for more investment to make Fiji THE hub of the region. It’s very encouraging to note that Korean Investors are showing their interest in this area,” Mr. Mueller- Teut said.

He adds a number of ship repair and building companies are already taking advantage of Fiji’s central location in the Pacific and Fijian Government’s pro-growth policies.

 “Since 2012, Korean investors have been showing their interest in sectors such as Service, Wholesale & Retail and Electricity, Water and Gas supply. From 2014 to 2016, 14 foreign direct investment projects from Korean investors have been implemented injecting millions of dollars in the Fijian economy,” Mr. Mueller-Teut said.

Manager Investment Facilitation, Ms. Jacky Terry ( 4th from left) with the Korean delegation at the Investment Fiji Office.