Fiji is actively working to boost its economy by prioritizing the attraction of foreign investment, although this remains a significant challenge, according to Investments Fiji. Chief Executive Kamal Chetty highlighted that despite an uptick in investor interest, factors such as the island nation’s small market size and its geographical distance from major global markets continue to impede progress.
In an encouraging sign, investors from 52 countries expressed interest in Fiji last year, leading to an increase in managed investment projects from 189 to 224. This is a positive reflection of the growing potential for investment in Fiji, yet Chetty pointed out that such growth inevitably brings increased pressures, particularly when it comes to actualizing projects.
Chetty stated, “All those positive growth that we see also increases challenges, so the first challenge is obviously we’ve seen as I’ve mentioned growth in interest to invest in Fiji right, so with that growth will also come challenges it’s not that the challenges are bad but that shows as we grow our economy those challenges will come and we should plan for the future.”
He emphasized the importance of necessary approval processes, engagement with resource owners, and coordination between various agencies to ensure project implementation does not falter, underscoring these steps as essential for long-term stability. Despite facing hurdles, Chetty remains optimistic that proactive planning and sustained government support will play vital roles in maintaining investor confidence in Fiji’s economic development journey.
With the right strategies in place, Fiji can navigate these challenges and unlock further potential within its growing investment landscape, paving the way for a more prosperous economic future.