Strategic plan to focus on the ‘discovery phase’
MORE than 60 participants representing Government, donor agencies and the private sector attended the Investment Fiji's Strategic Planning workshop in Suva yesterday.
According to the Minister for Commerce, Trade, Tourism and Transport, Faiyaz Koya the objective of the workshop was to provide participants a backdrop for development of a refreshed strategic plan, focusing on the “Discovery Phase”.
“The Fijian Government has set the path for the creation of sustainable economy,” he said.
“An economy, which is able to accommodate a dynamic private sector, facilitates capital and new technology, support diversification of new sectors and activities, which feed into the global value chain.
“To achieve this, the five-year and 20-year National Development Plan has set target to maintain total investments at 25 per cent of the GDP.
“Investments must be supported largely by private sector investments to over 15 per cent of the GDP by 2036.”
The Fijian economy had faced significant challenges because of the COVID-19 pandemic and according to the minister almost a decade of investment growth had been brought literately to a halt.
“However, we are not letting this hamper the determination we have, in terms of making Fiji the ideal investment destination. In fact, in this period we are continuing reforms that promote Fiji as a competitive and preferred investment destination.”
The Ministry of Commerce, Trade, Tourism and Transport is leading these reforms.
Mr Koya said these included legislative reviews, streamlining of systems and processes, and digitalisation of approval systems and processes.
“With the digitalisation project, the desired goal is to create such platform whereby applicants will be able to access, make applications and receive approvals through e-platforms.
“The ministry in conjunction with the International Finance
Corporation/World Bank Group continues to put in place policy and regulatory framework to meet the market demands,” he said.
The workshop is seen as a new beginning for Investment Fiji.
“Therefore, it is important to re-strategise and re-plan.
“Essentially, as the minister responsible for investment and trade, I want this workshop to carry on the vision of the Government.
“These outcomes of the workshop should set the roadmap with clear goals and deliverables.”
He said the contributions in this workshop would enable Investment Fiji and the ministry to make the changes more effective.