The Co-Founders of ThirdRoc, Mr Shivnil Maharaj and Mr Ritesh Nain,
The Team of ThirdRoc,
Acting Deputy High Commissioner of Australia to Fiji, H.E Andrew Shepherd,
The Governor of the Reserve Bank of Fiji, Mr Ariff Ali,
The Permanent Secretary for Finance, Mr Shiri Gounder,
Industry Captains,
Invited Guests,
Ladies and Gentlemen,
Bula Vinaka and a very good evening to you all.
It is a great pleasure to be here today to officially launch ThirdRoc in Fiji.
Firstly, I would like to congratulate the co-founders of ThirdRoc for having the vision and foresight to enter the Fintech Industry. I am told that Thirdroc is backed by Antler, a renowned early-stage investor which invests in start-ups with great potential.
Ladies and Gentlemen,
The Co-founders of ThirdRoc have embarked on a journey that is pushing the boundaries of technology and innovation. At a time when new technologies are emerging Artificial Intelligence and Machine Learning are revolutionising how we approach finance – challenging the traditional norms and reshaping the foundation of the sector.
These emerging technologies have brought a seismic shift in how businesses manage risk, detect fraud, and tailor personalised services for their clients.
The launch of ThirdRoc is an exciting new development in Fiji’s Fintech Sector — bringing A.I driven out of the box Fintech solutions and expertise to our shores. Through this, ThirdRoc aims to accelerate digital transformation and economic growth.
So welcome ThirdRoc to our emerging Fintech landscape!
As the Minister for Communications, it is pleasing to see the ICT industry evolving in Fiji. Our Nation has seen investments from several overseas based companies as recognition grows for our skilled ICT professionals and the business landscape we offer.
In recent months, we have shared great success through the launch of Vodafone Fiji’s M-PAiSA Mastercard, Digicel’s 5G technology test trial launch, and the launch of Fortune 500 technology company’s partnership in Fiji.
Fiji’s ICT industry is growing in reputation and the acquisition of one Fiji’s growing ICT companies by KPMG, a big four accounting firm is a testament to that.
Ladies and Gentlemen,
The Fiji Government plans to increase investment by both citizens and foreign investors. And for that reason, we are striving to make it easier to open and operate a business in Fiji.
You may be aware that work is ongoing on Fiji’s Business Now platform, which aims to remove unnecessary bottlenecks and upon its completion – the platform will allow “the starting a business process” to be completed all from a single portal!
For the ICT industry to flourish we as your Government understand that quality Internet connectivity is paramount. With this in mind, the Fiji Government recognises the importance of resilient infrastructure and is therefore prioritising discussions on building a second submarine cable landing station in Fiji that aims to provide diversity and an added layer of redundancy for ICT businesses to be disaster risk resilient. In addition, we are also in active discussions with Satellite Broadband providers to further future proof Fiji from disaster related shocks.
Ladies and Gentlemen,
A strong legislative foundation is very important for the success of any sector, hence Fiji’s Cybercrime Act 2021 has been aligned to the Budapest Convention which is the only internationally binding treaty of its kind.
The Parliamentary Standing Committee in the last session of Parliament provided a report to Parliament and has recommended Fiji’s ascension to the Budapest Convention. All these work has ensured that Fiji is a more attractive destination for ICT and BPO businesses and we will strive to implement further safeguards as necessary to ensure a conducive ICT business environment.
Ladies and Gentlemen,
The Fiji Government also recognises that more skilled talent will be required to push investments such as these forward, therefore in the recent 2023-2024 Budget Announcement we have announced 8720 new student scholarships in addition to the 9148 students already being funded by the Government. This portrays how serious we are about developing the skillset for our future generation the importance it has to Fiji’s growth.
So if you look at the holistic view of the entire basket, your Government is strategically repositioning Fiji as a regional hub. And because of the basket of incentives and assistance available, we are able to attract renowned international brands to our shores.
Ladies and Gentlemen, coming back to tonight’s event, I wish to also remind all ICT businesses operating in Fiji including ThirdRoc the critical importance of ensuring that you prioritise and implement appropriate security and data privacy standards for your products and supply chains.
In this digital age, where technology is the heartbeat of a country’s economy, the safeguarding of sensitive information has never been more crucial. Companies must understand that their responsibility extends beyond just delivering products and services, they must also protect the trust placed in them by consumers and partners.
Once again to Shivnil and Ritesh – and the team of ThirdRoc, thank you for your passion and determination and the relentless pursuit of a vision. As we move forward into an era of unprecedented technological advancements, I wish you great success and growth in the years to come.
I now have much pleasure in launching ThirdRoc, please enjoy your evening, Vinaka Vakalevu and Thank you.