The government is making significant strides in fostering a robust investment climate, aiming to drive impactful economic development and sustainable growth.

Deputy Prime Minister and Minister for Trade Manoa Kamikamica says they have developed a significant investment policy framework that provides a comprehensive guide for promoting and managing significant investments.

Kamikamica says that under the framework, the government will provide support on a case-by-case basis to investment projects that meet specific criteria.

“These include economic impact and strategic importance, which must align to the country’s priorities and contribute to growth and development, technological advancement, priority investments in new technologies, know-how or expertise that can benefit local industries, and contributing to Fiji’s skill development.”

Deputy Prime Minister and Minister for Trade Manoa Kamikamica  [Source: Parliament of the Republic of Fiji/Facebook]

He adds that their approach involves improving the investment climate, strengthening partnerships, and pursuing opportunities aligned with the national development goals.

This is set against the backdrop of Fiji’s confidence in achieving over 3 percent growth in 2024.

Deputy Prime Minister and Minister for Finance Professor Biman Prasad [Source: Parliament of the Republic of Fiji/Facebook]

Deputy Prime Minister and Minister for Finance Professor Biman Prasad says the positive growth projection for 2024 reflects the government’s commitment to economic stability and resilience.

“We were initially hoping that we would grow at more than three percent, but we saw some headwinds in the economy, and we had revised the growth forecast to 2.8 percent. It is still very positive growth compared to the recession in New Zealand and the headwinds in Australia. We are now confident that we will actually achieve more than 3 percent growth in 2024.”

Professor Prasad says that they also intend to provide an open political environment where state enterprises and commercial entities are able to make decisions in the best interest of the entities and contribute to economic growth.