Honourable Ministers,
Chief Executive Officers,
Permanent Secretaries,
Private Sector Representatives,
Ladies and Gentlemen,
Bula Vinaka and good morning to you.
It is my pleasure to welcome you all to the first meeting of the Investment Facilitation Committee (IFC). And I wish to thank you everyone for availing themselves to today’s discussions.
The Government recognizes investment is critical for creating jobs, boosting productivity, and improving social and economic well-being. Therefore, we are committed to ensuring that our investors are looked after, our investment policies and regulations are transparent, predictable and supportive of sustainable development.
In light of this, I am pleased to inform you all that the Cabinet has approved the establishment of the IFC. This is an important milestone for Fiji, as it signals our commitment to promoting investments and economic growth.
This IFC will serve as a high-level dedicated platform to address the regulatory and administrative bottlenecks that are faced by investors. It will bring together key stakeholders, including government, investors, businesses to discuss the challenges and collectively address issues in order to make doing business easier in Fiji.
I look forward to working together with each and every one of you towards our common goal of fostering increased investments in Fiji. And I require support from each one in achieving the vision that I have presented to the Hon. Prime Minister.
Purpose of the Investment Facilitation Committee (IFC):
Colleagues,
The establishment of the Investment Facilitation Committee (IFC) is a clear indication of the Government’s commitment to creating a conducive environment for investments in Fiji. We recognise the importance of investments in driving economic growth, creating jobs, and improving the lives of our people.
The IFC has been formed with the aim of facilitating innovative and high value investments, investments in renewable energy and clean technologies, digital technologies, quality infrastructure development and healthcare. The IFC will also aim to provide recommendations to streamline the investment process in Fiji.
We understand that investments can be complex and involve various stakeholders in Fiji. The committee’s role will be to ensure that investors have a smooth experience when investing in Fiji. We want to make Fiji an attractive investment destination for local and foreign investors.
Work of the IFC
Colleagues,
Over the next few months, the Committee will be working on a number of initiatives that will help enable and increase investments in Fiji. Some of the key areas we will be focusing on include:
1. Improving the investment climate by creating a business friendly environment that is conducive to investments
2. Provide recommendations on developing policies and guidelines that will streamline the investment process and make it easier for investors to do business in Fiji;
3. Resolve bottlenecks and facilitate collaboration between investors and relevant government agencies to ensure that investment projects are implemented smoothly and effectively;
4. Making Fiji an attractive investment destination to potential investors through targeted the work of the IFC and the improvements made to the investment climate.
Overall, I believe that special attention and facilitation should be given to investment projects that can generate positive social and economic outcomes, such as job creation, environment sustainability, and technological innovation.
Colleagues,
I believe that by working together, we can make Fiji an attractive investment destination and unlock the full potential of our economy. I am confident that this committee will produce tangible results and I look forward to working with you all.
Vinaka Vakalevu. Thank you.