In a significant boost to the local economy and infrastructure, various development projects amounting to $1.3 billion are currently underway.
These initiatives span multiple sectors aiming to improve the quality of life and stimulate economic growth in the region.
Deputy Prime Minister and Minister for Finance Biman Prasad said 22 other projects valued at around $1.5billon were still at pre-developmental stage.
Mr Prasad made the revelation while officiating at the Fiji Commerce and Employers Federation breakfast event at the Holiday Inn in Suva yesterday.
He said this showed the massive interest in investing into the Fijian economy.
“I am told that 49 projects valued at $716 million has commenced while some completed,” Mr Prasad said.
“These were facilitated by Investment Fiji between August 2023 and April 2024,” he said.
“Thirty-nine projects valued at $1.3billion is under construction, 22 projects valued at around $1.5billion is at pre-developmental stage or is in the approval process.
“I am told 27 projects valued at $2.3billion is at conceptual stages.”
He said 52 projects that were valued at $3.5 billion were classified as Foreign Direct Investment while 85 projects valued at $2.2billion were domestic direct investments
For all these to be realised, some of it, at conceptual stage may never happen, but the indications are is there is essential confidence,” Mr Prasad said.
“There are some expectations from businesses for these projects that will be realised if we provide all the enabling environment.”
He added that the Government has allocated $9 million towards the ease of doing business initiatives to promote Fiji as an ideal investment destination.
Mr Prasad also acknowledged the challenges and reaffirmed the Government’s commitment to economic stability and growth.
He said that to safeguard growth sustainability and address the hurdles that were holding the nation back, the Government would re-think, re-strategise and re-align objectives in the upcoming budget.
“We are very pleased that this kind of signals are coming and we are very thankful for the strong support from our development partners.”
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