Fiji has extended nearly one billion dollars in tax incentives to bolster its tourism sector, yet numerous significant projects are experiencing delays attributed to regulatory and infrastructure challenges. During a recent panel discussion at the Third Fiji Tourism Convention, Udit Singh, Chief Executive of the Fiji Revenue and Customs Service, highlighted that approximately $850 million in short-term investment incentives were allocated to the tourism industry in just the previous year.
Over the last three years, the total incentive packages related to tourism have reached around one billion dollars, offering investment incentives ranging from five to fifty years. Singh elaborated that the hurdles confronting many approved projects relate to various factors, including environmental impact assessments, permit acquisitions, availability of funding, and construction-related obstacles.
Despite the substantive uptake of these incentives, Singh indicated that progress on several approved initiatives is not unfolding as quickly as anticipated. He emphasized the need for a comprehensive strategy to support the tourism industry by ensuring necessary infrastructure development to facilitate project advancement.
This situation presents an opportunity for stakeholders to collaborate closely and address these regulatory hurdles, thereby enhancing Fiji’s tourism appeal and economic growth potential in the future.