Vision for dynamic private sector
THE vision of the Fijian Government is to create a dynamic private sector, which invests, innovates and creates jobs.
Minister for Commerce, Trade, Tourism and Transport Faiyaz Koya, speaking at the First Session and High-Level Segment: The World Trade Organisation (WTO) negotiations of an Investment Facilitation Framework for Development virtual meeting said, “Investments, especially, inward foreign direct investments, can facilitate the entry of capital, technology and knowhow, as well as diversification into new sectors and activities”. “This also fosters the integration of domestic firms into global
value chains - something we are striving for world over.”
Minister Koya added Fiji is also looked upon as the economic and technological hub of the Pacific and is one of the region’s most developed economies.
He said the Fijian Government is committed to maintaining its hub status and to manoeuvring Fiji towards a competitive and preferred investment destination. “I’m pleased to say that the Fijian Ministry of Commerce, Trade, Tourism and Transport, is leading the implementation of investment related reforms.”
“The mapping of the policies and strategies were done through our Fijian Trade Policy Framework, trickling down to the development of what is our first,
Fijian Investment Policy Statement and Investment Reform Map.”
The reforms are based on three key pillars: Alignment of domestic laws and regulations with international best practice, revised role of national Promotion Agency (IPA) laws and ease of doing business. Minister Koya added his ministry is at the helm of all the on-going changes and he is proud that Fiji is one of the pioneering Pacific nations, engaged in such rigorous reforms.
“We started the journey with a vision to “Transform Fiji”, and now -- it is about rebuilding Fiji and getting Fijians back to work – with new quality of energy and responsibility, whilst maintaining our hub of the Pacific status.” Also in attendance at the virtual session were the Minister for Tourism, Commerce, Trade Vanuatu, James Bule, Head of Asia Pacific, World Economic Forum (WEF), Joo-Ok Lee and other trade ministers.