Embracing on a new journey as an Investment Promotion Agency (IPA), Investment Fiji has committed itself to become one of the leading and an effective economic development agency, by ensuring increased sustainable levels of investment and exports.
While addressing the staff, Board Chair Jenny Seeto said as the organisation settles into its new role, it is imperative to deliver high-impact results as an Investment and Trade promotion agency.
“The competition will be challenging but I am sure we will gain the upper advantage with the capabilities of our staff and management and show the world the vast untapped possibilities that Fiji has to offer,” mentioned Ms Seeto.
Investment promotion and facilitation and aftercare support are the key priorities for Investment Fiji.
Other changes as per the Investment Act 2021 and Investment Fiji Act 2022, include; foreign investor(s) will need to register in line with the Companies Act 2015 and register a tax ID, the investor(s) will no longer be required to have a Foreign Investor Registration Certificate, the foreign investor(s) must within 3 months bring into Fiji the minimum $300,000, and foreign investor(s) from all sectors that are not classified reserved and restricted; will have to meet the minimum threshold of $300,000 while remaining capital to be paid within a year of registration.
Investment Fiji in collaboration with the Ministry of Commerce, Trade, Tourism and Transport organized an investment seminar for Government officials and the representatives from the private-sector organizations in the central, northern and western divisions to update the stakeholders on the new investment legislations.
During the seminar session at the Suva’s Civic Centre Auditorium on Monday, Chief Executive Officer Kamal Chetty said the agency aims to provide a positive economic impact on the lives of Fijians through creating employability and providing premium investments and export markets.
“We also seek to diversify the economy such that it is dynamic and less susceptible to global economic shocks. Hence, Investment Fiji is a key factor in the Government’s efforts to ensure a Fiji of the future where a good and sustainable quality of life is accessible to all,” highlighted Mr Chetty.
“The fundamental aspect of any country is its ability to capture investment and trade opportunities which is central to its growth and sustainable development. It expands an economy’s productive capacity and drives job creation and income growth,” he said.
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