The Government of the Republic of the Fiji Islands is dedicated to implementing policies that will achieve prosperity for Fiji citizens.
As the principal basis for development, Government is committed to fostering market-led economic growth. Government believes that economic growth is the primary means for raising incomes, expanding employment opportunities and reducing poverty in the Fiji Islands.
For more than a decade, Government has been making significant reforms to fiscal, monetary, trade, foreign exchange, competition, services and labour market policies, as well as to the broader public sector, in order to achieve a regulatory environment conducive to the efficient and competitive operation of markets.
In the late 1990s, Government instituted parallel reforms to investment-related policies and legislation, in order to facilitate market-driven investment in the Fiji Islands.
Government believes that investment, by increasing the present and future productive capacity of the economy, is the driving force behind sustainable economic growth.
Government recognises that it is only through high levels of investment - both public and private - that the economy of the Fiji Islands will sustain rising consumption, growing incomes, increasing productivity, the creation of new employment, and the diversification of the economic base.
A key Government priority is therefore to raise the annual level of investment to at least twenty-five percent of gross domestic product. Government will achieve this goal by increasing public investment - particularly in physical infrastructure and human capital - and by stimulating and facilitating higher levels of private investment.
Government recognises the importance of both local and foreign sources of private investment. Both are acknowledged and valued for the different expertise, strengths and economic contributions they offer to the Fiji Islands. Local investors are often well placed to access Fiji's many natural and human resources, link with existing entrepreneurs and enterprises, and make appropriate business risk assessments. Foreign investors are recognised for their capacity to access substantial capital funds, transfer new technology, techniques, products and organisational systems, draw on diverse skills and expertise, develop domestic human capital, and use their information and networks to access ever-changing market opportunities in our globalised economic environment.
Government therefore welcomes equally local and foreign private investors. Government is also strongly committed to stimulating and facilitating all private investment, whether from local or foreign sources.
Principles of Investment Policy
Fiji's Investment Policy is based on the following principles:
- Investment should be market-driven.
- Investment should be welcomed from all legal sources.
- Investment should be welcomed into all areas of the economy, except where legislation reserves specific economic activities for citizens, for social policy purposes.
- Government should stimulate and facilitate investment.
- Investment facilitation shall not discriminate between foreign and a local investor unless stated otherwise in the legislation reserving certain economic activities for citizens for social policy purposes.
- Investment-related legislation should be transparent and efficient, designed and implemented as the regulations that are minimally necessary to achieve a specific public policy objective.
Stimulating Investment
Government is dedicated to providing a domestic environment that is conducive to private investment.
Government will:
- Maintain sound macroeconomic policy settings to achieve a strong growth, low inflation and low interest rate business environment.
- Uphold social and political stability, security and confidence.
- Provide the high quality infrastructure on which markets depend.
- Invest in human capital - health, education and vocational training - to provide an appropriately skilled and flexible labour force.
- Offer a competitive and well-administered taxation regime, with significant incentives for private investors.
- Continuously reform the public sector to achieve ongoing improvements in efficiency and service-orientation.
- Progressively rationalise investment-related legislation and regulations.
- Support investment opportunities in particular sectors with dynamic potential through attractive concession packages.
- Foster high-calibre local entrepreneurial skills and enterprises, to strengthen domestic business capacity and provide a foundation for beneficial local-foreign business partnerships.
Facilitating Investment
The Fiji Islands Trade and Investment Bureau (FTIB) offers prospective investors up-to-date information about existing and emerging investment opportunities in Fiji. This expertise is based on the FTIB's regular profiling of business activities and extensive contacts with the business community. Officials at the FTIB are available to advise new investors on how they can take advantage of these opportunities in nascent product and service niches.
In addition, the FTIB offers investors comprehensive information about all legislation and procedures important to the establishment of new enterprises in the Fiji Islands, as well as providing helpful contacts within the relevant authorities. FTIB officials are also ready to assist all investors with business establishment, complementing information provision with valuable facilitation services.
FTIB officials are also ready to provide prospective investors with information, advice and helpful contacts regarding the investment incentives and concessions offered by the Fiji Islands. The FTIB is therefore a key first point of contact regarding investment opportunities, enterprise establishment and incentives in the Fiji Islands.
An Investor's Guide to Fiji, a 'prospectus' for potential investors, is produced, regularly updated and readily available from the FTIB.
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