ABU DABHI – Fiji’s Investment Potential

Abu Dhabi MISSION exposes potential for investment in Fiji
 FIJI’S expanding diplomatic ties is already generating a flurry of activity in terms of investment and trade.Prime Minister Voreqe Bainimarama will open Fiji’s newest embassy in Abu Dhabi later this week and right after that, a trade delegation will have a seminar as well as meetings with investors who have shown interest in various sectors in Fiji.Investment Fiji chairman Adrian Sofield, who will be part of the delegation together with officials from Fiji’s Ministry of Industry and Trade, said the embassy has already set up one on one sessions with potential investors. A similar meeting was held after Fiji’s embassy in Seoul, Korea was inaugurated.”I think Abu Dhabi is a different arrangement whereas in Korea we have considerable trade with them. Trade with Abu Dhabi at the moment from our side is about $1m a year and from their end its $1.8m,” he said.

Mr Sofield said that currently, Fiji exports timber products and they in turn sell rubber and plastic but at the end of the day it is a very small market at the moment. However, he said there is a potential in terms of investment more than in the trade situation.

“We believe in terms of trade they would be into the high end products but investment we are certainly going to promote especially the tourism industry projects such as Momi, we have the agricultural sector that we can promote but also promote investment in infrastructure here,” Mr Sofield said.

Meanwhile, Mr Sofield and Investment Fiji chief executive officer, Mr Ravuni Uluilakeba, updated the media on their first and second quarter performance and achievements.

Over half billion investment proposals with employment proposals of 2,195 have been registered in the first six months of 2012. This is an increase by over 22 per cent compared to last year and agriculture and forestry has been identified as booming sectors with close to 40 per cent investment channelled through to this area.

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