Acting Prime Minister and Attorney-General, Hon. Aiyaz Sayed-Khaiyum,

Chair and Board of Directors, Investment Fiji,

Permanent Secretary for Commerce, Trade, Tourism and Transport,

Chief Executive Officer, Investment Fiji,

Members of the Diplomatic Corp,

Distinguished Guests,

Ladies and Gentlemen.

Bula Vinaka and a very good evening to all of you.

It is a pleasure to be here for the launch of the 2022 Prime Minister’s International Business Awards (IBA). It is also pleasing to see the ongoing support and collaboration that the Awards has come to have from the private sector – undoubtedly, success is best when shared.

Ladies and Gentlemen,

After a lapse of almost two years, we have come back stronger and become more resilient and are aiming for success and excellence.

I wish to reiterate that the private sector sets the fountain of knowledge and experience of innovation — whilst the Fijian Government provides a facilitative and favourable environment, for businesses to progress and move forward.

Ladies and Gentlemen,

The vision for a modern and inclusive economy is deeply ingrained in the 5-Year and 20-Year National Development Plan (NDP). The vision of “Transforming Fiji”, blueprints Fiji’s securable potential as a nation.

In this regard, the Fijian Government through the 2022-2023 National Budget, is focused on continuing the economic recovery that Fiji has achieved since the opening of the border in December 2021. The long-term policies of the budget are targeted to continuing to improve the business and investment climate.

Ladies and Gentlemen,

Since 2017, we have been progressively removing obstacles for businesses to register a business.

Ladies and Gentlemen,

The new Investment Act 2021, which came into effect on Monday this week, means foreign investors no longer require Foreign Investment Registration Certificate. In simple terms, 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 – and that too completely online.

For the first time, the investment landscape is covering domestic investors. From 1 August 2022, Investment Fiji, has an obligation to assist domestic investors, as we call it aftercare. This is to ensure that our domestic investors, who continued their commitment to Fiji, even during the pandemic are given the same treatment as foreign investors.

Ladies and Gentlemen,

The Fijian Government has always implemented consistent policies and laws, which contributes towards building a dynamic and vibrant private sector. A private sector that invests, innovates and creates pathways to self-reliance, through the creation of jobs and growth of new and innovative industries. This essentially creates economic diversification for the Fijian Economy. I applaud the private sector strengths and determination.

We have seen by progressive efforts made in the last two years. A total of 389 projects
were registered with a proposed investment value of over $1.5 billion and proposed employment of 12,742 ordinary Fijians.

These projects were registered in services, tourism, wholesale and retail, manufacturing and real estate sectors.

Ladies and Gentlemen,

The Fijian Government has taken economic diversification to another level. We have seen tremendous results in the business outsourcing industry. With the competitive advantage and value proposition we offer, we have paved the way to gain more prominence amongst the international markets including the European countries.

The decisive leadership of considering outsourcing services as ‘essential business’ has made it capable of creating 100,000 new jobs for Fijians over the next decade. This in fact will be coupled with the right incentives, infrastructure, and strategic marketing in place.

As a forward-looking Government, we have always progressed towards the overall vision of “Transforming Fiji” – through creating a modern investment environment – not just for today but for tomorrow, benefitting all Fijians securing a stronger future.

Ladies and Gentlemen,

Coming back to today’s event, I acknowledge Investment Fiji’s commitment to ensuring that the Prime Minister’s International Business Awards remains a premier event, where innovative and creative business ideas are rewarded.

In this IBA, 13 categories will be introduced to recognise the contribution of each sector, towards the growth of our nation — industries that contribute to the vividness and brilliance of our business environment.

Now is the time to recognise and commend these businesses and their teams on their hard work and dedication over two years. Businesses and individuals who have adopted creative and unique channels to excel, whose products and services are distinctive from the rest, who strive for peculiarity and have meaningful contributions towards the development of the community.

I take this opportunity to encourage small and medium businesses and young visionary entrepreneurs that have demonstrated outstanding achievements in the Fijian economy to apply for the Awards.

I would also like to convey my sincere appreciation to our sponsors without whom this event would not even be possible, especially special thanks to FIJI Water who are the main sponsor of the event. Other major sponsors include BSP Financial Group Ltd, Life Insurance Corporation of India (LICI), Westpac Fiji, Reserve Bank of Fiji, Telecom (Fiji) Pte Ltd, DHL, Vodafone, Swire Shipping, Golden Manufacturing, Tropik Wood, British American Tobacco, TOTAL Energies, PHAMA Plus and our partners Pure Fiji, Fiji Kava, Tappoo as well as our media partners.

With those words, it gives me great pleasure to welcome you all to the launch of the 2022 Prime Minister’s International Business Awards.

Vinaka Vakalevu and Thank you.