Fiji National Provident Fund has been a key driver of the economy and has played a crucial role in the socio-economic development of the nation for the last six decades.

Deputy Prime Minister and Finance Minister Professor Biman Prasad highlighted this during FNPF Board Strategy Workshop in Nadi.

He says the Fund has grown into the largest financial institution managing a total portfolio of close to $10 billion.

Professor Prasad adds FNPF has been the custodian of the lifetime savings for over 400,000 Fijians whose hopes and aspirations have been intrinsically linked to the performance of FNPF and its investments.

He highlighted the importance of the Fiji National Provident Fund’s hotel portfolio as a key part of its investment strategy, particularly as the tourism sector continues to grow.

However, he also stresses on the challenges faced by the fund with hotel investments in the past, emphasizing the need for due diligence and expert advice before embarking on new ventures.

Professor Prasad says as the tourism industry is expected to reach almost a million visitors by year-end, FNPF’s ability to effectively manage and expand its hotel investments will be crucial.

He says in the last eight months, there has been a further growth of around seven percent in visitor arrivals, beating everyone’s expectations.

He says the Fund is also expected to play a role in increasing room capacity, particularly in Suva and Vanua Levu, as the government works on a major tourism development project in the North with the World Bank.

The Finance Minister also encouraged FNPF to explore other areas, such as enhancing visitor experiences, promoting local culture, and linking the agricultural sector to the tourism industry—critical steps to ensure the long-term success of the sector.

He says the Fund must take strategic measures to overcome past hurdles and secure the growth and optimization of its investments, ultimately benefiting both its members and the Fijian economy.