Competing Interests Over Yaqara Leaves Ministry With Hands Full
Landowners
In 2002, a group of indigenous landowners threatened court action against then Laisenia Qaraseled government and the Native Lands Trust Board over ownership of the site.
Landowners had learned that the lease was handed over to Paradise Entertainment Limited.
In 2009, the group had been delisted by the South Pacific Stock Exchange for failing to submit an audited account of its business. Along with the elimination of the company’s warranty to continue operating were promises of at least 30,000 jobs in just about every sphere of a multi-million-dollar studio city project in an area that stood to gain from the business venture.
Yaqara Pastoral Farm
Fiji’s largest cattle enterprise, Yaqara Pastoral Company Ltd, has its origins set in the early 70s, when it was called Yaqara Pastoral Society Limited.
It now owns more than 15,000 acres of Crown land with an office on site.
The enterprise owns more than 4000 cattle and is expected to produce an estimated 150 tonnes of beef a year, which translates as 600 cattle at 250 kg carcass weight. Yaqara produces quality, steer beef under 36 months and has a supply arrangement with South Pacific Butchery.
South Pacific Butchery Company Limited provides high quality fresh and cooked meats, locally reared Fijian and imported beef, lamb, pork and chicken it is based in Denarau, Nadi.
Yaqara Pastoral Company Limited chief executive officer, Adrian Ram, confirmed that talks started 20 years ago.
He said: “There has been so many talks, plans and attempts to develop the place into Yaqara City.
“I do believe they never had enough capital to invest, apart from the land dispute amongst the landowners and with the foreign investor.”
SunBiz was reliably informed that architectural designs were being drafted to develop a master plan for the tax-free zone city that would include: a financial centre an industrial park; and a sports academy.
Tax legislation
The Chaudhry-led government in 2000 had a Cabinet-approved legislation designed to establish Fiji as the best location in the world for the production and distribution of film, television, music, computer software and e-commerce.
The tax legislation would provide for the following incentives:
■Betwee■ 100 per cent to 150 per cent tax deduction for capital investment in audio visual projects, depending on local content and participation.
Studio City Zone offering tax free operating status for companies involved in audio visual production and distribution, and tax-free status for audio visual income of individuals in the audio-visual industry (including sports men and sports women), and those who took up residence in the studio city zone.
■The legislation allowed Fiji to participate in world copyright conventions.
Chaudhry’s nounced the
2000. government legislation in
Southern Cross Optic Fibre
anJuly
Paradise Entertainment also planned the private placement of initial venture capital.
Paradise Entertainment Limited had an agreement in principle with Telecom Fiji Limited for a joint venture for the provision of internet and telecommunication services and infrastructure to the Studio City Zone.
The infrastructure would be supported by the Southern Cross optic fibre cable linking the West coast of USA with the East coast of Australia, and passing through Fiji, giving Fiji the communications capacity to participate in global information
Yaqara Pastoral Company Limited office and butchery in Ra.
transfers.
But this did not become fruitful until 2018, when the Fiji First Government made the $16 million investment. It followed Fiji I n t e r nat i o n a l Telecommunications Limited’s (FINTEL) successful negotiations for the Samoa to Fiji sub-sea cable Tui-Samoa to branch into Savusavu.
The Tui Samoa cable system contractors are Alcatel Submarine Networks.
They are the same contractors that built the Southern Cross Cable Network, which links Fiji with the world.
Connecting with Southern Cross is significant as it provides direct links with Australia, New Zealand and the United States.