New Zealand High Commissioner to Fiji;
Your Excellences;
Governor of the Reserve Bank of Fiji;
President of the New Zealand Fiji Business Council;
Fijian Trade Commissioner to Australia and New Zealand;
Delegates of the Business Mission;
Distinguished Guests;
Ladies and Gentlemen.
Bula Vinaka and a very good morning to you all.
It is a pleasure to be here this morning and to warmly welcome you all to the New Zealand-Fiji Business Mission.
I would like to extend a special welcome to our guests from New Zealand and to those Fijians who have returned home to explore the potential trade and investment opportunities here in Fiji. It is especially encouraging to see former Fijians returning home to invest, to share their expertise, technical knowledge and skills.
Today marks the beginning of this important week long business mission, which will enable us to forge new relations and strengthen the ones that are already existing.
Ladies and Gentlemen,
Fiji today is the strongest, most innovative and the most united it has ever been. We are the hub of the Pacific – the hub of trade, business, transportation, logistics and communications. And we have done exceptionally well over the past decade, as seen quite clearly through the strengths of our economy.
The Fijian economy is poised for the ninth consecutive years of growth, the longest period of sustained economic growth ever recorded in our history. And we are expected to maintain this upward trajectory in the years to come.
Ladies and Gentlemen,
The Fijian Government policies has led to increase in per capita income to over $12,000, almost doubling from $6,419 in 2006. Foreign Reserves are just under $2.2 billion, which is enough to cover 5 months of imports. Unemployment is recorded at the lowest in 20 years, at 4%.
The Fijian Government has invested into infrastructure, such as roads, airports, bridges and jetties. Today, we are spending approximately 40 percent of the national budget on capital expenditure, the highest ever.
We’re massively expanding our ports and making them more efficient. We’re upgrading our national infrastructure to a new standard of climate resilience, and we are extending essential services like water, electricity, telecommunications and internet to every corner of the country.
Just this month, the Hon. Prime Minister opened the new Nadi International Airport complex, which is built to world standards. It is certainly the biggest and most modern airport terminal in the Pacific islands and one worthy of Fiji’s status as hub of the Pacific.
In March, the our progress received global recognition at the Skytrax 2018 World Airport Awards, where Nadi was named one of the World’s Most Improved Airports, alongside airports in far larger and more developed nations around the world.
We have invested in our people by freeing education for our primary and secondary schools, we have literacy rate of 93%. And access student loan schemes and scholarships has allowed more people to afford higher education. As a result, we are developing the most talented and the most competitive workforce in Fiji.
All policies are driven by one aim that all developments in Fiji need to be sustainable – green projects.
Ladies and Gentlemen,
Furthermore, our policies are dedicated towards developing emerging markets in order to forge new relations, whilst encouraging re-engagement with our traditional partners in order to create new trade and investment opportunities that benefit us all
New Zealand and Fiji are natural trading partners and we must work together to reach the full potential of our relationship by exploring means and ways of further engagement.
Two-way trade in goods of the two countries reached $992.2 million in 2017. And around $71 million worth of New Zealand investments were registered last year in tourism, services, wholesale and retail sectors.
As a Government and Ministry, we stand ready to work side-by-side with the business community in New Zealand to further ignite the trade and investment between our two countries.
In order to strengthen our trade and investment relations, we have established the Fijian Trade Commission office in Auckland, earlier this year. Through the Trade Commission we will redouble our efforts in attracting more investments and market for Fijian Made products.
Ladies and Gentlemen,
One area that I believe has tremendous potential, is the business process outsourcing sector. Not only is the Fijian workforce talented, we are also English-speaking, and BPO services in Fiji are available at a much cheaper cost than in New Zealand.
On top of that, our networks of telecommunications are reliable and we have fast and reliable internet service accessible almost everywhere, with 4G plus connectivity.
To capitalise on the excellent ICT connectivity, strong manufacturing base and Fiji’s strategic position, one key initiative of the Fijian Government is the Wairebetia Economic Zone. The Zone will target investments from leading ICT, manufacturing, supply-chain management and other medium-to-large-scale firms. There will be tailor-made incentives for the investments in the Zone.
You will hear from the Reserve Bank and Investment Fiji on the various incentives that are available for foreign investors.
Ladies and Gentlemen,
The time to invest in Fiji and your business has never been more ideal than now. With our consistent policies based on fairness, inclusive growth and empowerment, we have put Fiji on a new course.
We have our eyes firmly set on sustainable economic growth and on achieving greatness. We are determined to not only cement Fiji’s position on the global map but to steadily transform ourselves from a developing country into a modern nation state.
Ladies and Gentlemen,
I wish to reiterate that New Zealand and Fiji are close and important economic partners and we must work together to reach the full potential of our relationship.
On behalf of the Fijian Government, I would once again offer our assistance for you to take full advantage of doing business here.
I trust that you will have fruitful discussions today and throughout the week and explore opportunities, established networks and finalise tangible business arrangements with your counterparts.
Please find time to enjoy our Fijian hospitality and explore our beautiful paradise we call home, before you depart.
I wish you all the best and look forward to great outcomes from this mission.
Vinaka vakalevu. Thank you.
View PDF->Speech for the Hon. Minister at the NFBC Business Mission