The Minister for Trade and Commerce, Berenado Vunibobo, emphasized the need for Fiji to reassess its labour wage rates to stay competitive against countries in the South-East Asia region vying for investment. He made these remarks in 1990 during a press conference following a trade promotion mission to Hong Kong, Singapore, Malaysia, and Indonesia. Vunibobo highlighted the importance of investing in promotional efforts to attract overseas investors.
During this mission, he noted that Indonesia posed significant competition in terms of wage rates, whereas Fiji had a better chance against Singapore. He suggested that the government should evaluate the current wage system to enhance productivity. Despite the challenges, Vunibobo felt optimistic about Fiji’s potential to compete well with the four Asian nations involved in the discussions.
Vunibobo described the response to their seminar in Hong Kong as “overwhelming,” with over 400 participants expressing interest. He articulated a clear stance against the notion of selling passports, clarifying that the government does not support such proposals, particularly in light of issues surrounding Tonga’s passport selling.
In Malaysia, he addressed the trade imbalance favoring Fiji, urging action to rectify it, while outlining interest in sectors such as concrete, timber, textiles, and pharmaceuticals. The mission included twenty business representatives who collaborated with the Fiji Trade and Investment Board to stimulate commercial engagement across these promising markets.
Fiji’s ongoing efforts to enhance its attractiveness to foreign investors signal a proactive approach to economic growth. By addressing operational challenges and positioning itself effectively in the international market, Fiji could harness emerging opportunities for development, boosting local industries and creating jobs. These efforts underline a hopeful outlook for the country’s economic future as it continues to foster relationships and explore potential investments.