The Fiji Australia Business Council Forum underway in Suva

Investment Fiji is driving infrastructure and digital connectivity advancements with 83 ongoing construction projects valued at $1.4 billion set to conclude by 2025.

Thirty five projects in the pre-development phase, hold an estimated value of $1.7 million.

There are also $2 billion worth of projects in the conceptual stage with 67 leads under consideration.

These updates were shared by Investment Fiji’s Chair Jenny Setto at the ongoing Fiji Australia Business Council Forum in Suva.

Discussions focuses on Fiji’s growing investment opportunities.

The forum, held at the Grand Pacific Hotel discusses the expanding partnership between Fiji and Australia.

Seeto says Australia is showing interest in Fiji’s development with 56 leads valued at $333 million and this projects also reflects the rising investor confidence in Fiji’s market.

“So as of July 2024, we had 185 domestic investment projects in the pipeline, valued at six billion and they are expected to be realized over the next few years and these are projects that we are facilitating and they do span across various sectors and projects.”

A significant boost to Fiji’s digital infrastructure, Seeto reveals comes from Google’s South Pacific Connect initiative, which will deliver two trans-Pacific subsea cables and build a $200 million data center in Fiji.

Starlink has been granted a license to provide satellite internet services to remote areas, enhancing connectivity especially during natural disasters.

These advancements, Seeto states are expected to open up new opportunities across various sectors, particularly in Business Process Outsourcing (BPO), which is projected to grow from 8,000 to 25,000 employees by next year.

While the progress is notable, Seeto says challenges remain particularly in rural areas where infrastructure gaps hinder accessibility and connectivity.

Despite signs of growth in the North, such as rising real estate prices, significant improvements are still needed in Fiji’s overall infrastructure including roads and bridges to better connect communities and support economic development.

Seeto also says that investment prospects are also emerging in sectors like waste-to-energy projects, affordable housing, and tourism with a focus on eco-friendly and disability-friendly accommodations.

The demand for low-cost housing, she notes continues to outpace supply particularly for low-income earners, with 300 informal settlements highlighting the urgent need for infrastructure development.

Seeto says there is a push for greater investment in Fiji’s healthcare system with proposals for partnerships between Fiji’s School of Medicine and offshore institutions to attract foreign students and boost the local workforce.

Fiji’s strategic geographic position presents further opportunities for investment in logistics and distribution networks, offering access to emerging and established markets in the Pacific.

However, Seeto states that the lack of a dedicated research facility in Fiji is a concern with calls for investment in research capabilities to advance knowledge-based sectors particularly in agriculture, marine resources and renewable energy.