FOREIGN INVESTMENT IN FIJI REACHED $937 MILLION

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SUVA, Fiji (Fiji Times, June 14) – The level of foreign investment in Fiji reached FJ$1.63 billion [US$937.7 million] at the end of 2004.

Direct investment accounted for FJ$544.8 million while other investments totaled FJ$1.09 billion [US$313.4 million and US$627 million, respectively].

Out of the FJ$544.8 million for direct investment, the equity capital and reinvested earnings was FJ$534.7 million [US$307.6 million] while other capital stood at FJ$10.1 million [US$5.8 million].

Of the other investments, which were FJ$1.09 billion, total trade credits stood at FJ$268.4 million, loans at FJ$594.8 million and currency and deposits totaled FJ$211.3 million. Other liabilities were FJ$17.1 million.

Fiji's national net foreign liabilities declined by FJ$301.9 million [US$173.6 million] in 2004, from FJ$650.9 million [US$374.4 million] the previous year.

Compared to 2003, net liabilities totaled FJ$952.8 million [US$548.1 million].

However the level of investment abroad reached FJ$984.9 million [US$566.5 million] in December 2004 while direct investment abroad accounted for FJ$72.2 million [US$41.5 million].

The Bureau of Statistics said that the net foreign equity at the end of the same year was FJ$573.6 million [US$329.9 million], which was an increase of FJ$50.5 million or 9.6 percent over 2003 when the net foreign equity stood at FJ$523.1 million [US$300 million].

The Bureau added that statistics were compiled in accordance with the latest international standards in the International Monetary Fund Balance of Payments.

June 15, 2006

Fiji Times Online: http://www.fijitimes.com

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