Fiji’s Trade Commissioner to Australia & New Zealand, Mr Daniel Stow,

Australia’s Trade Commissioner to the Pacific & Timor-Leste, Ms Sheila Lunter,

Pacific Trade & Invest Australia Trade & Investment Commissioner, Mr Caleb Jarvis,

President of the Australia Fiji Business Council, Allison Haworth West,

President of the NSW-Fiji Business Council, Mohammed Shameem

Reserve Bank of Fiji Deputy Governor, Esala Masitabua,

Fiji Revenue and Customs Service, CEO Mr. Mark Dixon,

Investment Fiji Chair Ms. Jenny Seeto and CEO, Mr Kamal Chetty,

Business representatives and other Invited Guests.

Bula Vinaka and Good Morning to you all.

It is indeed a pleasure to join you all for the first in-person investment and trade mission by Fiji to Australia. This event is organised by Investment Fiji in collaboration with the Fijian Trade Commission for Australia and New Zealand, Pacific Trade Invest – Australia, Fiji-Australia Business Council and the New South Wales Fiji Business Council.

Ladies and Gentlemen,

The Fijian Government has just on Friday delivered its 2022-2023 National Budget. The budget is focused on the exceptional economic recovery that Fiji has achieved. The long-term policies of the budget are targeted to continuing to improve the business and investment climate.

Ladies and Gentlemen,

The COVID-19 pandemic triggered global economic disruption of significant magnitude at an escalating pace. No country in the world was spared. Every economy has been adversely impacted. This adversity has been exacerbated by the Russia-Ukraine war.  Prices of fuel and commodities are skyrocketing. In many countries inflation is in the double digits.

During the pandemic, the Fijian Government spent over $500 million in unemployment support. And through the 2022-2023 budget the Government will continue to provide inflationary mitigation support to the families most affected.

Since 2017, we have been progressively removing unnecessary requirements and fees for business registration. The World Bank Group’s recent survey has identified that by just removing the business license, businesses have saved at least $3.5 million in direct cost savings, which is in addition to the time saved.

In addition to these improvements, from 1 August 2022, investing in Fiji has become way easier than before. The new Investment Act 2021 which comes into effect 10 days from now [August 1], will mean foreign investors no longer require a foreign investment registration certificate.

All you need to do is legally register your business with the Registrar of Companies, in line with the Companies Act 2015 and register for a tax number.  Remember you can do this completely online.

By going to bizfiji.com you will access the procedures and processes in terms of business registration.

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.

It has been the consistency of policies and strategies that have seen businesses continue to establish a presence in Fiji and investor confidence increase.

And today, we are gathered to present the vast opportunities and incentives Fiji offers in various sectors.

Ladies and Gentlemen,

Fiji shares extensive trade and investment ties with Australia and remains one of the largest trade and investment partners, with two-way goods and services. In 2021, 34 Australian projects valued at FJ$26.4 million in Fiji in tourism, real estate, services, transport, storage, communication, and construction sectors. Fiji has exported FJ$249 million worth of merchandise to Australia in 2021 as our country’s exports were 13 percent above what was achieved in 2020 which was FJ$221 million.

Ladies and Gentlemen,

The possibility of stronger engagement between our two nations has grown over the last period of years, and this business mission confirms that we are going to see sustainably more integration going forward while also signifying the strong foundation of our relationship and shared vision to further our economic relations.

I would like to take the opportunity to thank the Australia Fiji Business Council and the New South Wales Fiji Business Council for their role in leveraging trade and economic opportunities for Fiji. This is a valiant feat as a result of your collaboration with the Fiji Consulate General and Trade Commission and Investment Fiji to provide trade pathways.

Ladies and Gentlemen,

I hope this Business Mission will allow us to further explore numerous avenues to deepen strong economic relations and encourage greater engagement between both nations.

With these few words, I wish you all an impactful and successful engagement ahead.

Vinaka Vakalevu and Thank You.