Fiji has announced a substantial extension of nearly one billion dollars in tax incentives aimed at strengthening its tourism sector. However, a number of pivotal projects are currently facing delays due to regulatory and infrastructure challenges. During a recent panel at the Third Fiji Tourism Convention, Udit Singh, the Chief Executive of the Fiji Revenue and Customs Service, shared that last year alone, approximately $850 million in short-term investment incentives were dedicated to the tourism industry.
Across the past three years, total incentive packages for tourism have amounted to around one billion dollars, offering potential investment incentives that span from five to fifty years. Singh pointed out that many of the obstacles stalling approved projects stem from several concerns, including the need for environmental impact assessments, difficulties in obtaining permits, varying levels of available funding, and construction-related issues.
While the uptake of these incentives has been significant, Singh noted that the progress on various approved initiatives is not occurring as swiftly as expected. He stressed the importance of developing a well-rounded strategy to support the tourism sector, which would involve ensuring that necessary infrastructure is in place to enable project advancement.
This scenario presents a valuable opportunity for stakeholders to forge closer partnerships that could effectively address these regulatory challenges. By doing so, they can enhance Fiji’s attractiveness as a tourist destination and unlock further economic growth potential in the future.