Chinese Investors Eye Renewable Energy, Mineral Resources Sectors
Vatukoula Gold Mines divestment interests were recently enhanced after its parent company visited the country to scout opportunities to branch out to. China-based Zhongrun Resources Investment Corporation, was among three groups of foreign investors that spent a week looking into ventures they could set up. Renewable energy and mineral exploration were among key investments identified by the groups who recently visited the country to see first-hand what Fiji had to offer.
Three groups of investors from China represented:
Zhogrun Resource Investment – a Chinabased company engaged in mining business, that operates two business segments - the minerals business and the real estate business.
Guoxin Investment Corp
- an investment firm that provides asset management, investment management and consulting services, and
Guocheng Group – operates investment businesses that provide equity investment, industrial investment, mining investment, real estate investment, and other services. The groups were led by Vatukoula Gold Mines chairman, Ian He, who earlier announced divestment, as one of the pillars the mine would expand.
As part of the mine’s divestment interest - the group initially considered retirement homes, real estate, tourism, and agriculture as areas of investment.
Coincidentally, a 20-member group of Chinese retirees were in the country, where they were welcomed by Hilton Fiji Beach Resort Spa.
Mr Ian said the group expanded its area of interest to include solar farms and hydropower, among other sectorial interest.
Fourth largest tourism source
On a global scale, China remains the world’s second largest inward and outward investor, since the United States of America replaced them in 2020, Investment Fiji said at a business leaders annual conference at Shangri-la Yanuca Island.
China is the fourth largest tourism source market for Fiji, which provides a great number of visitor arrivals and business in Fiji’s low season.
Tourism Fiji said it continued to produce a series of reports and guidelines on the best practices over how to service the Chinese visitors after the epidemic.
“Its aim is to assist industry partners in understanding Chinese market better including mainland China and global Chinese market,” Tourism Fiji said.