51 New Overseas Investment Proposals Received By Fiji

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$113.4 million anticipated from proposed projects

By Ropate Valemei

SUVA, Fiji (Fijilive, May 29, 2012) – Investment Fiji has received 51 investment proposals valued at FJ$211.8 million [US$113.4 million] for the first four months of the year.

These investments, if implemented, would create 1,623 jobs.

Investment Fiji chief executive Ravuni Uluilakeba said this year the foreign investment level forecast looks favorable as 51 projects have been registered compared to 42 during the same period last year.

Investment Fiji says if the trend continues, it anticipates reaching the targeted 200 projects valued at FJ$$699 million [US$374.2 million] implemented by December, 2012.

This will be an increase of 7.5 percent from last year.

Investment Fiji says that foreign investors are again beginning to have confidence in setting up their business in Fiji.

Tax free regions in the hotel, audio visual, agriculture, manufacturing and information, technology and computing sectors as well as a reduction in the corporate tax rate to 20 percent have enhanced the investment drive, it says.

"We are working towards the possibility of including the French and Hindi languages on our website which already has Japanese, Korean and Mandarin," said Uluilakeba.

Investment Fiji has identified services, tourism, wholesale and retail trade, manufacturing and agriculture and forestry as the top five booming sectors.

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