Koreans look to invest in Fiji
More Korean investors are showing their interest in the Fijian economy and are exploring various investment opportunities. An eight-member delegation from the KoreaFiji Friendship Association had preliminary discussions with the Chief Executive Officer of Investment Fiji, Godo Mueller-Teut on Friday.
The delegation is in the country to gather knowledge and explore the various investment opportunities and incentives provided by the Fijian Government. Investment Fiji CEO, Mr Mueller-Teut says Korean investors are not new to the Fijian economy and its encouraging to see more investors from Korea are exploring various opportunities in Fiji.
The delegation sought Investment Fiji’s assistance in guiding them in their potential investment ventures. Mr Mueller-Teut says the Korean investors can very well utilize Fiji’s strategic location in the region and invest in agriculture, renewable energy, tourism and manufacturing sector.
He adds Fiji is the ideal re-export centre for international businesses to supply products and services to the rest of the Pacific, located at a very good vantage point, and enjoys excellent air and sea connectivity across the region.
Being the “hub of the Pacific” Fiji is also a strategic transshipment centre for cargo traded between the Pacific Island States.
In 2015 total Exports to PIC’s equated to $482.5m, exceeding total combined exports to New Zealand and Australia of $372m. The chief executive says Fiji Government has set the platform for investment and growth by introducing a number of incentives such as low corporate tax rates, tax-free regions and duty free importation of plants, machinery and equipment for initial establishment of the factory. The delegation is now expected to meet the potential investors in Korea to inform them about various investment opportunities and incentives in Fiji.