Investor confidence in Fiji remains strong, according to Investment Fiji CEO Kamal Chetty, who spoke at the Nadi Chamber of Commerce Christmas Cocktail event. Chetty revealed a remarkable 13 percent increase in investor engagement this year, with Investment Fiji connecting with 100 to 120 investors monthly from 52 countries, a significant rise from the previous year’s tally of 44.
The upsurge in investor interest corresponds with a 16 percent increase in business registrations in Fiji, demonstrating a robust commitment from both local and international investors. Major global corporations, including Google and a sovereign fund from the UAE, have made investments in Fiji, while companies like Honeywell and Atkins Spence are actively seeking new opportunities and expanding their workforce.
Investment Fiji has reported an increase in the number of projects it oversees, from 189 to 224, spanning various sectors such as real estate, agriculture, business process outsourcing (BPO), and tourism. Noteworthy upcoming projects include the One&Only resort in Esau, an agricultural project by Atkins Group, and the Koro project in Suva, which is expected to generate 18,000 jobs.
The backing from institutional investors also highlights Fiji’s economic potential. The Fiji National Provident Fund (FNPF) manages a substantial $12 billion portfolio, while BSP Life oversees about $1 billion. Additionally, public sector initiatives led by entities like Fiji Airports, Energy Fiji Limited, and the Water Authority are enhancing confidence in Fiji’s economic environment.
Chetty underscored the significance of ongoing collaboration among government entities, investors, and institutions as crucial for sustaining economic growth in Fiji. With the increasing appetite for investment and a wave of development projects on the horizon, Fiji’s economic outlook appears optimistic, suggesting a promising future for its business landscape.