Published On: Mon, Mar 7th, 2016

FIJI : Fast Tracking Growth

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Fiji offers many opportunities in the traditional economic sectors as well as in rapidly growing sectors like ICT, Manufacturing, Tourism, Mining, Food Processing, Services and Resource-based sectors, to name a few.

Fast-Tracking-Growth

Fiji ‘s beautiful and peaceful environment is an additional reason why the country is a favourable destination for investment.

Situated in the South Pacific, approximately 3100 km Northeast of Sydney, 2100 km North of Auckland and 5100 km Southwest of Honolulu, FIJI is a democratically governed republic with a legal system based on British law. A republic in 1987 and a member of the Commonwealth, FIJI is also an active member of the international community. On a per-capita basis, Fiji contributes more troops to United Nations peacekeeping missions than any other country. The return to parliamentary democracy and successful elections in September 2014 has boosted investor confidence. Private sector investment in 2014 reached 15% of GDP. Fiji’s ethnic groups include Fijian, 54 percent (predominantly Melanesian with a Polynesian admixture), Indian, 38 per cent, and small communities of European descent, other Pacific Islanders and overseas Chinese.

fiji-productionResources

Fiji, endowed with forest, mineral, and fish resources, is one of the most developed of the Pacific island economies. Tourism, Mining, Energy, Transportation and Communications, Timber, Gold, Copper, Offshore Oil Potential, and Hydropower etc. are some of the significant sectors.

Expanding Economy

Tourism and Sugar industry is the mainstay of the Fiji’s Economy. Earnings from the tourism industry, with an estimated 692,630 tourists in 2014, and remittances from Fijian’s working abroad are the country’s largest foreign exchange revenue source. Tourism has grown rapidly since the early 1980s and is the leading economic activity in the Fiji islands. Gross earnings from tourism continue to be Fiji’s major source of foreign exchange. Fiji’s tourism revenue yields services surplus. The sugar industry reforms since 2010 have largely improved productivity in returns.
Fiji’s fertile soil yields sugarcane, coconuts, cassava, rice, sweet potatoes, bananas, pineapples, and lumber. Cattle, pigs, horses and goats are raised. Sugar processing accounts for a third of Fiji’s industrial production, is the main export.

Investment Opportunities

The Government of FIJI is committed to development and is working towards encouraging FDI and boosting investor confidence by offering progressive incentives across industry sectors. Some of the key industrial and other sectors identified for growth are: Sugar, Agriculture, Film, Forestry, Information, Communications and Technology, Footwear, Furniture, Mining, Paper and Paper Products, Plastic Products, Processed Fruit and Vegetable Products.
Fiji offers many opportunities in the traditional economic sectors as well as in rapidly growing sectors like ICT, Manufacturing, Tourism, Mining, Food Processing, Services and Resource- based sectors, to name a few.
Fiji has a long and positive track record in attracting investors from all over the world, many of whom have re-invested in multiple projects and operating in Fiji. The Fiji Government also ensures that the private sector, which is seen as the ‘engine room for growth’, contributes to the socio-economic development of the country.
Fiji ‘s beautiful and peaceful environment is an additional reason why the country is a favourable destination for investment.

Tourism Sector : Tourism is a critical pillar of the Fijian economy. In 2012, it is estimated that gross earnings from the tourism industry was $1.3bn, which is about 17.8 percent of GDP.
The Fiji tourism projects included natural & cultural, cruising, water sports & resort activities, yachting, surfing, diving, wedding & honeymoon, shopping, sports and community village tours. Opportunities in the Tourism sector are: Agro Tourism; Spa Tourism; Health Tourism; Sports Tourism; Nautical Tourism; Retirement Resort Village; Integrated Resort; and Resorts & Villas.

Fisheries : Tuna as the major foreign exchange earner for Fiji’s fishing industry is boosted by the development of domestic tuna long line cannery and processing companies and to the vast lucrative sashimi and sushi markets in Japan and the United States of America. Major export products include:

  • Deep water snapper
  • Tuna species – Big-eyed, Yellow fin, Albacore, Skipjack
  • Other species – Swordfish, Blue Marlin, Striped Marlin, Mahi-mahi, Wahoo
  • Sunfish

Opportunities also exist in onshore and offshore FISHERY

Agriculture : Potential for Fiji is found in the production and export of high value niche agricultural produce. The pristine environment, on which agricultural production takes place braced by other environmental and ecological factors, supports organic produce. This is a major development in the fresh food market worldwide and provides lucrative opportunities to investors and stakeholders. Potential commodities for value added processing include; Papaya, Tomatoes, Pineapple, Coconut, Duruka, Mango, Chillies, Banana, Cassava, Taro, Breadfruit, Sweet Potatoes, Ginger, Cocoa and Dairy.

Potential also exists in the Livestock Sector for:

  • Animal Feed Supply, using local resources from existing industries
  • Dairy Farming
  • Production and supply of organic farm inputs

Major Industrial sectors

Tourism, Sugar, Clothing, Copra, Lumber, Small cottage industries.

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