Business

Foreign investments soars

January 18, 2025 4:03 pm

UTOF Chair Lavinia Kaumaitotoya with CEO Vilash Chand

Foreign investments are on the rise in Fiji, largely driven by the success of the Unit Trust of Fiji (UTOF) model, which has gained significant regional attention.

In 2024, institutions such as the Samoa Provident Fund, Samoa Parliamentary Fund, and Vanuatu National Provident Fund invested a combined total of $35 million, reflecting growing confidence in Fiji’s financial stability and the effectiveness of the UTOF model.

UTOF Chair Lavinia Kaumaitotoya says the success of the Unit Trust of Samoa, which has been operational for five years, has sparked discussions on expanding similar systems to other Pacific nations like Vanuatu, Solomon Islands, and Kiribati.

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“Kiribati and other Pacific Islands are now showing interest. As an example here in Fiji, which has worked, we are happy to extend that partnership to our regional partners to help our people invest and develop a savings culture, as we’ve done successfully here in Fiji.”

Meanwhile, Trust CEO Vilash Chand says they are encouraging Pacific nations like Vanuatu and the Solomon Islands to establish their own systems while also welcoming direct investments from superannuation funds.

“We are working with Vanuatu and the Solomon Islands to encourage them to establish their own systems. Additionally, we’re inviting super investors to directly invest in the Unit Trust of Fiji, as we are able to provide the best returns in the region.”

With increasing foreign investments and expanding regional partnerships, the Unit Trust of Fiji continues to play a pivotal role in driving economic growth and financial stability across the Pacific.