The newly inaugurated Fijian Holdings Limited Tower is poised to enhance iTaukei involvement in Fiji’s economic sphere. This landmark structure symbolizes a significant advancement in the ongoing efforts toward indigenous empowerment through investment and business participation.
During the official opening, Prime Minister Sitiveni Rabuka expressed that the FHL Tower exemplifies not only remarkable architectural design but also the culmination of a vision established over four decades ago aimed at fostering iTaukei engagement as active participants and leaders in the nation’s economic growth. He remarked, “This tower stands as a reflection of what can be achieved through clear vision, courage, and determination. It symbolizes our progress as a resilient, faithful, and united people. FHL’s growth proves that local leadership can deliver world-class results.”
The Prime Minister further commended FHL’s commitment to overcoming obstacles, notably during the COVID-19 pandemic and amidst global supply chain issues that delayed the project’s completion.
Founded in 1984 to champion iTaukei ownership across vital sectors of Fiji’s economy, FHL has expanded into a $900 million conglomerate employing almost 2,000 Fijians in areas such as finance, construction, tourism, and retail. The FHL Board Chairman, Rokoseru Nabalarua, described the 18-storey, eco-friendly tower as “a beacon of hope” for increased iTaukei business participation, crediting the visionary efforts of past leaders who laid the groundwork for FHL’s successes.
Strategically located in Suva, the new FHL Tower will accommodate various significant local and international entities, including the Asian Development Bank, the Korean Embassy, and the United Nations Development Program, further solidifying its role in enhancing the region’s financial landscape.
This development is part of a broader $50 million impact investment initiative by FHL aimed at boosting economic opportunities for iTaukei communities. Previous reports indicate that FHL has already allocated $14.6 million from this fund toward joint ventures in various localities, aiming to bolster economic involvement among iTaukei resource owners.
As FHL continues to forge a path for indigenous empowerment and economic participation, the completion of the FHL Tower stands as a hopeful sign of growth and resilience, promising a flourishing future for both the company and the communities it serves. The emphasis on local leadership and investment reflects a commitment to fostering meaningful progress within the Fijian economy, showcasing the potential for sustainable development and wider community engagement.