Australian Minister for Trade and Tourism, Senator the Hon. Don Farrell,
Deputy Governor of the Reserve Bank of Fiji, Esala Masitabua,
CEO of the Fiji Revenue and Customs Service, Mr. Mark Dixon,
Investment Fiji Chair, Ms. Jenny Seeto,
Fiji’s Trade Commissioner to Australia & New Zealand, Mr Daniel Stow,
Australia’s Trade Commissioner to the Pacific & Timor-Leste, Ms Sheila Lunter,
President of the Australia Fiji Business Council, Allison Haworth West,
Investment Fiji, CEO, Mr Kamal Chetty,
Business representatives and other Invited Guests,
Ladies and Gentlemen,
Bula Vinaka and a very Good Morning to you all,
It is indeed a pleasure to join you all for the first in-person investment and trade mission to Australia organised by Investment Fiji in collaboration with the Fiji Consulate General and Trade Commission – Australia and New Zealand, Pacific Trade Invest – Australia, Fiji-Australia Business Council and the New South Wales Fiji Business Council.
Ladies and Gentlemen,
The COVID-19 pandemic has triggered global economic disruption of significant magnitude at an escalating pace – and we would all agree that every economy has been adversely impacted in one way or another.
However, despite such setbacks, Fiji remained attractive to investors, and has seen a number of new businesses being established, simply indicating the level of investor confidence in the Fijian economy.
Our strong economic fundamentals, such as our good infrastructure, vibrant innovation ecosystem, good connectivity to the region and the world assisted us to position ourselves for growth and to seize opportunities.
Ladies and Gentlemen,
It was also encouraging to witness the resilience of our Fijian people and businesses, as they did not sit on the sidelines and wait for the pandemic to pass. Instead, they made full use of the downtime, to reinvent and restore themselves, to come-back anew when the pandemic subsides.
Ladies and Gentlemen,
Transformation will become even more important in the years ahead. And today, we are present here to showcase the vast opportunities and incentives Fiji offers in various sectors.
Fiji shares extensive trade and investment ties with Australia and Australia remains one of Fiji’s largest trade and investment partners. For 2021, data shows that Australia registered 34 projects valued at FJ$26.4 million in Fiji in tourism, real estate, services, transport, storage, communication and construction sectors. Fiji exported FJ$249 million worth of merchandise to Australia in 2021, up by 13 percent compared to 2020 (FJ $221 million).
Ladies and Gentlemen,
Investing in Fiji has become way easier than before. Fiji’s new Investment Act 2021 which comes into effect 9 days from now [August 1], will mean foreign investors will no longer require a foreign investment registration certificate. Instead they will be treated like their domestic counterparts, basically easing their way in doing businesses in Fiji. This reinvigorated approach is streamlined and user-friendly. Our national investment and trade promotion agency, Investment Fiji, will provide investment facilitation and after care services for investors.
Ladies and Gentlemen,
When you invest in Fiji, there are times when you need specialised skills and experience. In this regard, we have the Registration of Skilled Professionals Act, which provides a fast track process for (1) permit to work and reside in Fiji and (2) registration with relevant professional body. Applications are assessed by the Skilled Professionals Evaluation Committee and processed within 28 days.
Investors can also obtain further information by contacting the Trade Commissioner or the Ministry website. We will ensure that your registration and investor permit process is completed swiftly.
We have also announced in the 2022-2023 national budget a new business visa category. A business visa on arrival for citizens of a few selected counties, which includes Australia and New Zealand. The visa will be valid for 21 days. This is effective from 1 August 2022.
Ladies and Gentlemen,
This reinvigorated approach is streamlined and user-friendly. Our national investment and trade agency, Investment Fiji will provide policy advocacy and after care services, allowing investors to adjust to the investment environment.
The possibility of stronger engagement between our two nations has grown through the years. And this business mission signifies that we are going to see greater collaboration moving forward.
I would like to take this opportunity to thank the Australia Fiji Business Council and the New South Wales Fiji Business Council for the pivotal role they have played in leveraging trade and economic opportunities between Fiji and Australia.
Looking ahead, we see significant opportunities for the partnership that will promote deeper and stronger trade and business ties. An added advantage is that we have very good people-to-people links. I am therefore confident that Fijian and Australian companies can complement each other’s strengths and work together to explore new opportunities for mutual benefit.
With these few words, I wish you all an impactful and successful engagement ahead.
Vinaka Vakalevu and Thank You.