Indian businesses have shown interest in investing in construction, medical, energy amongst other areas in Fiji.
Permanent Secretary for Industry, Trade and Tourism, Shaheen Ali, and the executive chairman of Investment Fiji, Truman Bradley, met with Indian businesshouses to discuss investment opportunities in Fiji.
Last week the delegation met with a number of companies, many of which were very large Indian multinationals that have an annual turnover of more than US$400million and have invested in various countries or partnered with governments in a number of countries.
“Indian businesses are showing strong interest in investing in Fiji in areas, such as, construction, medical, energy, film making, agriculture, to name a few” Mr Ali said.
“Investment between Fiji and India has immense potential, especially, with the efforts of the two governments to create an enabling environment for trade and investment to take off.
“Last year Fiji and India signed a Double Taxation Avoidance Agreement that exempts investors from being charged taxes twice, in both countries.
“However, it is the private sector and commercial activities that are the driving force which will determine the success of the Governments’ initiatives and policies,” Mr Ali said.
“With the renewed and strengthened Fiji-India relations evidenced by the Indian Prime Minister’s visit to Fiji and his discussions with the Fijian Prime Minister Hon. J.V Bainimarama, there are many opportunities available that will be explored.
“The interest from the Indian business community is an indication of the readiness of these businesses to come to Fiji and explore the opportunities,” Mr Bradley said.
“There are a number of companies that have already registered as foreign investors and are going through the process of establishing their business interests in Fiji. Hence, in the coming months, we will see a number of Indian projects materialising in Fiji.”
Mr Ali and Mr Bradley were part of the Fijian delegation to India, led by the Attorney-General and Minister for Finance, Aiyaz Sayed-Khaiyum and Minister for Industry, Trade and Tourism, Faiyaz Siddiq Koya.
(Source: Fiji Sun)