Investment Fiji, the nation’s chief investment and trade promotion agency, is filled with optimism as it looks forward to 15 to 20 new investment projects anticipated to kick off in the coming year. Chief Executive Officer Kamal Chetty emphasized the organization’s current focus: moving projects from the planning stage to actual construction. Currently, Investment Fiji oversees a substantial pipeline comprising 212 investment initiatives, collectively valued at approximately $6.2 billion, spanning various sectors such as tourism, manufacturing, and real estate.
In a recent interview, Chetty discussed the progress of these projects, noting they are at different levels of implementation. “Some are currently under construction, while others are still in pre-development or even earlier conceptual phases,” he explained. Chetty is particularly dedicated to starting construction, highlighting the potential economic benefits and job creation, especially within the agricultural sector. The agency aims to work closely with local farmers to drive growth in rural areas.
Adding to the optimism is the anticipated construction of Kerzner International’s One&Only ultra-luxury resort in Yasawa, which is set to begin next year. This landmark project represents significant economic promise for Fiji.
However, the journey ahead is not without its challenges, particularly concerning labor capacity in the construction industry. ANZ’s senior economist, Dr. Kishti Sen, has pointed out the pressing need to address the skills gap in the sector. He noted that while there is a forecasted $600 million in new private investment, existing labor shortages pose notable challenges to progress. To tackle this issue, Fiji may need to explore importing labor and streamlining processes for work permit applications.
Despite these labor-related concerns, there remains a prevalent sense of optimism among government officials and investment agencies regarding the future of Fiji’s investment environment. The challenges posed by labor shortages could catalyze a renewed focus on training and education initiatives, essential for equipping the local workforce to meet the demands of a growing economy.
As Investment Fiji gears up for an exciting array of new projects, there is a hopeful outlook for increased job opportunities and economic growth that could bring substantial benefits to both local communities and the broader national economy.