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Investment Boost

he Fijian Government has undertaken significant steps to improve foreign investment facilitation with various countries including Singapore, says Minister for Industry, Trade and Tourism Faiyaz Koya.

He made the comment following a recent meeting with the Singaporean Ambassador to the Pacific Verghese Mathews this week.

The meeting aimed to discuss economic growth, trade and investment opportunities between Fiji and Singapore with focus on areas such as co-operatives, small and medium-enterprise development, business-to-business initiatives and investment facilitation.

"Singapore has a well-functioning and globally-renowned Economic Development Board, which plays the same role as the Fijian Investment Fiji," Mr Koya said in a statement following the meeting in Singapore on Monday.

"Working with the Economic Development Board of Singapore will provide impetus to our own reforms, to increase the efficacy and efficiency of Investment Fiji to attract even more foreign direct investments and look into ways we could do things differently to grow foreign direct investments."

He said Singapore had a strong co-operatives and small and medium enterprise base, which Fiji could draw examples from as they were in the process of amending the Co-operatives Act, re-organising the Cooperatives Department and establishment of the National Co-operatives Federation.

"Co-operation with Singapore comes at an opportune time with the Fijian Government initiating comprehensive reforms and putting in place progressive and attractive policies for both domestic and overseas businesses to take advantage of and flourish."

The meeting was also attended by Fiji's ambassador to Indonesia Ratu Tui Cavuilati and officials from the Ministry of Industry, Trade and Tourism.

Meanwhile, Industry, Trade and Tourism permanent secretary Shaheen Ali was expected to lead discussions with Singaporean authorities on the proposed Fijian Government-led mission to Singapore later in the year.

The mission was expected to formalise the discussions that had been initiated.

(Source: The Fiji Times)