Ports, fossil fuel need attention

The World Bank said maintenance works needed to be carried out on international ports, and a facelift to facilitate trade, tourism and regional connectivity, more effectively and efficiently.

Investment in ports should be made to attract and maintain revenue streams, The World Bank suggested.

There are fewer capital expenses directed into the energy sector compared to other sectors, according to the bank’s Fiji Public Expenditure 2023 report.

The World Bank also wants to see more investments in renewable energy.

Reducing reliance on fossil-fuels may be high-cost initially, but it would have high-benefit in the long run, the bank said.

Fiji should continue to scale up renewable energy to accelerate energy transition, and to enhance fuel security, increase the use of domestically available resources.

Maintenance work

The World Bank said maintenance works needed to be carried out on international ports, and a facelift to facilitate trade, tourism and regional connectivity, more effectively and efficiently.

The move requires significant investments from both public and private sectors, the bank said.

A review of expenses on Government shipping services has been suggested to ensure the effectiveness and efficiency of public spending.

Franchise subsidy rates, freight fare charged, and contract periods should be reviewed, the bank said.

Fossil fuel

Fiji was heavily reliant on fossil fuels, The World Bank said.

Fossil fuel imports accounted for approximately four per cent to 10 per cent of Fiji’s gross domestic product, or as high as 20 per cent of total imports in some years.

Fiji’s heavy reliance on oilbased fuels raised concern of exposure to international supply shocks and price surges, the bank said.