Management and Staff of the British American Tobacco Fiji,
Ladies and Gentlemen,
Bula Vinaka and a very good morning to you all.
I am delighted to be present here today, to inaugurate the British American Tobacco (BAT) Excise Bonded Warehouse. I would like to express my warm congratulations to the BAT staff and management, and sincerely acknowledge them for their warm welcome.
The opening of this excise bonded warehouse is indeed an opportune occasion, one which has been anticipated for a long time. Despite the challenges presented by the COVID-19 pandemic, each member of the BAT team has contributed positively to achieving this ambition. I applaud each one of you for your hard work and commitment towards this success.
Ladies and Gentlemen,
A bonded warehouse is a phenomenon that has risen over the years around the world. Not only do bonded warehouses provide safety and security, but also enable the payment of VAT and duties on goods to be deferred until they are removed. Allowing businesses to save money in the long run.
This 16-month long project, worth $1.3 million was undertaken by BAT to optimise warehouse execution, which allows for greater storage space, improved logistical routes for faster deployment of finished goods and for full stock transparency by the means of narrow aisle racking systems.
With the capacity to store 50 different stock-keeping unit’s (SKU’s), this facility will provide storage space for BAT products before they are released into the domestic and export markets, once clearance is provided by the relevant authorities.
Ladies and Gentlemen,
BAT is no stranger to supporting the agricultural sector and Fijian societies. It has signed up more than 600 Fijian farmers this year to grow tobacco leaf to meet increased production demands. This simply signifies the commitment towards supporting Fijian farmers, imparting economic diversity and building a resilient supply chain to name.
Earlier in 2019, BAT connected boreholes in Mavua, Raiwaqa and Muavesi. This community initiative connected villagers to reliable clean drinking water. This $90,000 project has provided villagers a sense of relief and improved quality of life with the provision of clean, adequate and safe water. This has positively contributed towards Fiji’s commitment to the United Nations through the SDG’s and facilitates the right of every Fijian as indicated in the Constitution.
These projects are also closely connected to the Sustainable Development Goals and Fiji’s 5-Year and 20-Year National Development Plans held in reserve for our country to achieve. Thus far, BAT has commissioned eight boreholes in tobacco farming communities with a further two awaiting completion.
Ladies and Gentlemen,
At this juncture, I would also like to acknowledge the notable investments undertaken by BAT. So far, more than $10 million has been invested in the Nabua factory from 2011 to 2014. A further Capital investment of over $8 million has been invested in the GLT factory in Nadi, with an additional investment of $4 million projected for 2020.
In addition to this, investment in equipment at the BAT Suva site for the purposes of exporting products to Australia in 2020, has also been implemented to ensure process and product improvement. Thus, enabling BAT to capture markets within Australia in addition to established markets which have been traditionally performing well.
Like any other organisation, BAT is making continual improvements to optimise business performance and improve the transparency of processes. These improvements have significantly resulted in the business receiving the Authorised Economic Operator accreditation from the Fiji Revenue and Customs Services in 2018. This is a great accomplishment for any business, and I encourage you all to continue working together, and give this bold investment and infrastructure maximum utilisation.
Ladies and Gentlemen,
With these words, it gives me great pleasure to officially open the British American Tobacco Excise Bonded Warehouse and I wish the BAT team all the very best. Vinaka vakalevu.