Showing posts with label Fiji Islands Trade and Investment Bureau. Show all posts
Showing posts with label Fiji Islands Trade and Investment Bureau. Show all posts

Sunday, February 22, 2009

Changes to Foreign Investment Regulation 2008

The Fiji Trades and Investment Board had a Road Show on Monday, 16 February 2009 at the Southern Cross Hotel, Suva. The aim of this Road Show was to announce the current changes to the Foreign Investment Regulations 2008. As of Friday, 16 January 2009, FTIB had de-reserved 4 activities that were previously listed as reserved activities and reduced the minimum investment thresholds for certain restricted activities.
The 4 de-reserved activities are:

  • Bus Business
  • Sightseeing tours, travel agent and tourist guide services
  • An office service business
  • Forestry (plant management & logging)

These 4 de-reserved activities now come under ‘Other Activities’ in the Restricted List of the Fiji Investment Regulation 2009 and will require at least F$250,000.00 in owners contribution or paid up capital for companies in the form of cash from the operational date to be fully brought into Fiji within the implementation period of the business.

2009 Restricted List and the Minimum Investment Thresholds

Fishing
· At least 30% equity held by a local and the Foreign investor must have at least F$500,000.00 in owner’s contribution or paid up capital for companies in the form of cash from the operational date to be fully brought into Fiji within the implementation period

Forestry (Plant management & logging)
· A foreign investor must undertake value adding and must have at least F$500,000.00 in owner’s contribution or paid up capital for companies in the form of cash from the operational date to be fully brought into Fiji within the implementation period

Manufacturing
· Tobacco production
o A foreign investor must use at least 75% locally grown and processed tobacco in all domestic cigarette production and must have at least F$500,000.00 in owner’s contribution or paid up capital for companies in the form of cash from the operational date to be fully brought into Fiji within the implementation period

Tourism
· Cultural heritage
o Any activity involving investment in the cultural heritage of the Fiji Islands must have at least F$500,000.00 in owner’s contribution or paid up capital for companies in the form of cash from the operational date to be fully brought into Fiji within the implementation period

Service
· Real Estate Management
o A foreign investor engaging in real estate management and real estate agents must have at least F$1 million in owner’s contribution or paid up capital for companies in the form of cash from the operational date to be fully brought into Fiji within the implementation period
o A foreign investor engaging in the above real estate management activities needs to be certified under the Real Estate Agents Act
o A foreign investor engaging in real estate activity in renting out of homes/villas/ apartment/bures to tourists must have at least F$250,000.00 in owners contribution or paid up capital for companies in the form of cash from the operational date to be fully brought into Fiji within the implementation period.

· Real Estate Development
o A foreign investor engaging in real estate development must have at least F$5 million owner’s contribution or paid up capital for companies in the form of cash from the operational date to be fully brought into Fiji within the implementation period

· Construction
o A foreign investor engaging in the construction industry must have at least F$1 million in owner’s contribution or paid up capital in the form of cash from the operational date to be fully brought into Fiji within the implementation period


· Earthmoving Business
o A foreign investor engaging in earthmoving business must have at least F$1 million in owner’s contribution or paid up capital for companies in the form of cash from the operational date to be fully brought into Fiji within the implementation period


· Island-Island Shipping and Passenger-Service (exclusive of tourism support services)
o A foreign investor engaging in inter island shipping and passenger service must have at least F$500,000.00 in owner’s contribution or paid up capital for companies in the form of cash from the operational date to be fully brought into Fiji within the implementation period.

Other Activities
Other than those activities listed under the Reserved and Restricted List, all other activities requires at least F$250,000.00 in owner’s contribution or paid up capital for companies in the form of cash from the operational date, to be fully brought into Fiji within the implementation period of the business.

The definition of ‘Reserved Activities’ under the 2009 Foreign Investment Regulations refers to those activities that are prescribed for Fiji Citizens only. For the purpose of Section 5 of the Act, the following Activities are prescribed:

  • A milk bar or cafeteria business;
  • A taxi business;
  • A kava business;
  • Retail sale via stalls and markets;
  • A handicraft business;
  • Tailor shops;
  • Repair of personal and household goods;
  • A plumbing business;
  • An electrical business;
  • Plant nursery and care;
  • A day care centre;
  • An internet cafĂ© and amusement and gaming centres;
  • Home-stay lodging services;
  • A bakery business other than those operated within the vicinity of a hotel/resort and/or operated by foreign owned hotels/resorts;
  • Backpacker operations;
  • A nightclub, other than those operated within the vicinity of a hotel/resort and/or operated by foreign owned hotels/resorts; and
  • A liquor bar, other than those operated within the vicinity of a hotel/resort and/or operated by foreign owned hotels/resorts.

The definition of ‘Restricted Activities’ under the 2009 Foreign Investment Regulations refers to those activities with conditions which must be met by foreign investors who wish to pursue them. These conditions include a minimum owner’s contribution or paid up capital in the form of cash to be brought into Fiji within the implementation period plus specific requirements depending on the activity of the foreign investor.

For Instance:

  1. Fishing Activity – At least 30% equity held by a local and the foreign investor must have at least F$500,000.00 in owner’s contribution or paid up capital for companies in the form of cash from the operational date to be fully brought into Fiji within the implementation period
  2. Forestry (Plant management & logging) - A foreign investor must undertake value adding and must have at least F$500,000.00 in owner’s contribution or paid up capital for companies in the form of cash from the operational date to be fully brought into Fiji within the implementation period
  3. Manufacturing (Tobacco production) - A foreign investor must use at least 75% locally grown and processed tobacco in all domestic cigarette production and must have at least F$500,000.00 in owner’s contribution or paid up capital for companies in the form of cash from the operational date to be fully brought into Fiji within the implementation period
  4. Tourism (Cultural heritage) - Any activity involving investment in the cultural heritage of the Fiji Islands must have at least F$500,000.00 in owner’s contribution or paid up capital for companies in the form of cash from the operational date to be fully brought into Fiji within the implementation period
  5. Service
    · Real Estate Management -
    o A foreign investor engaging in real estate management and real estate agents must have at least F$1 million in owner’s contribution or paid up capital for companies in the form of cash from the operational date to be fully brought into Fiji within the implementation period
    o A foreign investor engaging in the above real estate management activities needs to be certified under the Real Estate Agents Act
    o A foreign investor engaging in real estate activity in renting out of homes/villas/ apartment/bures to tourists must have at least F$250,000.00 in owners contribution or paid up capital for companies in the form of cash from the operational date to be fully brought into Fiji within the implementation period.

    · Real Estate Development
    o A foreign investor engaging in real estate development must have at least F$5 million owner’s contribution or paid up capital for companies in the form of cash from the operational date to be fully brought into Fiji within the implementation period

    · Construction
    o A foreign investor engaging in the construction industry must have at least F$1 million in owner’s contribution or paid up capital in the form of cash from the operational date to be fully brought into Fiji within the implementation period


    · Earthmoving Business
    o A foreign investor engaging in earthmoving business must have at least F$1 million in owner’s contribution or paid up capital for companies in the form of cash from the operational date to be fully brought into Fiji within the implementation period


    · Island-Island Shipping and Passenger-Service (exclusive of tourism support services)
    o A foreign investor engaging in inter island shipping and passenger service must have at least F$500,000.00 in owner’s contribution or paid up capital for companies in the form of cash from the operational date to be fully brought into Fiji within the implementation period.
  6. Other Activities - other than those activities listed under the Reserved and Restricted List, all other activities requires at least F$250,000.00 in owner’s contribution or paid up capital for companies in the form of cash from the operational date, to be fully brought into Fiji within the implementation period of the business.

Note : For investment advice and assistance to set up business in Fiji, pls contact our company, Gilbert & Samuels Company Limited, on telephones (679) 3342719 or 3544897 or email info@gilbert.com.fj.

Thursday, November 6, 2008

FTIB Roadshow

The Fiji Islands Trade and Investment Bureau is organising a Roadshow to raise awareness on new regulations regarding reserved and restricted lists that came into effect on 11 July 2008. The Roadshow will be held on Wednesday, 12 November, from 8.30am to 11.30am, at the Southern Cross Hotel, Suva. For more information, pls call Florence Nand on telephone (679) 3315988 or email florence@ftib.org.fj.

For advice on investment in Fiji, pls contact our company, Gilbert & Samuels Company Limited, on telephones (679) 3342719 or (679) 3544897 or email info@gilbert.com.fj.

Monday, November 26, 2007

2008 Fiji National Budget

The 2008 National Budget was delivered by the Minister of Finance on Friday, 23 November 2007. The Budget has some very favourable aspects that help with those running businesses or intending to set up businesses in Fiji. For a copy of the Budget, you can subscribe to our fijisale Yahoo Group and look under the Files section of the Group. A copy of the 2007 Revised Budget is also there for comparison. To subscribe to our Yahoo Group, just enter your e-mail address in the form at the top of this blog and click on the "Join Now!" button.

Sunday, September 30, 2007

2007 DHL Exporters of the Year Award



The Fiji Islands Trade and Investment Board (FTIB) has begun preparations for the 2007 DHL Exporters of the Year Award. Applications are being sought from businesses that export products and services from Fiji.

The relevant application forms can be downloaded from the FTIB website, http://www.ftib.org.fj/.

Tickets to the Awards Night are also selling at F$150.00 per entry.

For more information, please contact Ms Jogina Yang on telephone (679) 3315988 or email jogina@ftib.org.fj.

Fiji ranked 36th best in terms of ease of doing business

Fiji has been ranked 36th in a list of 178 countries around the world in terms of ease of doing business. The rankings were done by the World Bank and is published in its report - Doing Business 2008.

Fiji's ranking has fallen slightly from 31st, however, it remains as the best in the Pacific region.

The rankings are based on 10 indicators of business regulation that tracked the time and cost of meeting government requirements in business start-up, operation, trade, taxation and closure. These indicators include both economic and social factors.

The World Bank report also found that equity returns are highest in countries that are reforming the most.

The rankings do not reflect such areas as macroeconomic policy, quality of infrastructure, currency volatility, investor perceptions or crime rates.

For information on obtaining licences for setting up business in Fiji, pls refer to the Fiji Islands Trade and Investment Bureau website on http://www.ftib.org.fj/.

Saturday, August 11, 2007

Trade and Investment Mission to India and Indonesia

The Fiji Islands Trade and Investment Bureau (FTIB) is organising a trade and investment mission to Indian from 8 October to 15 October 2007, and Indonesia from 16 October to 18 October 2007.

The mission will include visits to key industries and one-to-one meetings with potential joint-venture partners/investors and potential importers and distributors, based on identified areas of interest.

Business people who are interested to join this mission are to contact Liz Baledrokadroka at FTIB on e-mail liz@ftib.org.fj.

Sunday, July 8, 2007

Trade & Investment Mission to China

The Fiji Islands Trade and Investment Bureau (FTIB) is organising a trade and investment promotion mission to China from 8 August to 18 August 2007. FTIB is seeking expressions of interest from companies that wish to :
  • attract strategic joint-venture partners in agriculture (agri-processing), marine (processing), forestry (value adding/manufacturing), ICT, tourism and other manufacturing sectors;
  • explore export opportunities for Fiji products into these countries;
  • source machinery, raw material, packaging material, building material, consumer products, etc to improve business efficiency and competitiveness of exports.

The mission will include site visits to key industries and one-to-one meetings with potential strategic joint-venture partners or investors and potential importers and distributors.

Participants will be responsible for their individual travel, accommodation and other related costs.

If you wish to participate, pls call Parnam Singh, FTIB on telephone number (679) 3315988.

Tuesday, June 19, 2007

FNPF investment at Natadola safe

The Fiji National Provident Fund (FNPF) has said that its investment at Natadola is safe. The comment was made after the cancellation of the foreign investment registration certificate of Natadola Land Holdings by the Fiji Islands Trade and Investment Bureau (FTIB).

The FNPF said that the cancellation of the certificate means that Natadola Land Holdings cannot engage in "development and management of integrated resorts".

The Chairman of the FNPF Board, Peceli Vocea, said that the Fund has had informal discussions on the way forward in terms of replacing Natadola Land Holdings and made the assurance that the cancellation will not impede the completion of the project at Natadola.

FNPF Investments Limited, a subsidiary of FNPF, holds 51% shareholding in Natadola Land Holdings with the remaining 49% owned by Hotels Property Pacific Limited (HPPL) of which APRIL (Hong Kong) is a major shareholder.

APRIL was project manager for the Natadola project before being removed recently.

Thursday, June 14, 2007

Exporting to New Zealand Seminar Cancelled

The seminar organised by the Fiji Islands Trade and Investment Bureau, in collaboration with the Pacific Islands Trade and Investment Commission (PITIC) NZ, on exporting to New Zealand has been cancelled due to the political events yesterday, Thursday, 14 June 2007.

For more information or to register, pls contact Jogina Yang on e-mail jogina@ftib.org.fj or telephone (679) 3315988.

Monday, April 2, 2007

FTIB Exporting to the USA Workshop

The Fiji Trade Commission Los Angeles, Fiji Embassy Washington, the Fiji Mission to the UN and the Fiji Islands Trade and Investment Bureau (FTIB) together with senior executives of the Montalvan Sales Inc will be conducting two workshops on exporting to the USA.

Topics covered will include :
  • Understanding the US Market - Trends, Challenges and Opportunities;
  • Things to Know Before you Export to the USA;
  • Preparing Your Goods for Export - quality, packaging, labelling and shipping;
  • US Market Entry Requirements.

The sessions planned are :

  • Suva, Tuesday, 17 April 2007, 9am to 5pm, JJ's on the Park;
  • Lautoka, Thursday, 19 April 2007, 9am to 5pm, Tanoa Waterfront Hotel.

The presenters are :

  • Mrs Carmen Montalvan - Vice President and owner of Montalvan Sales Inc, one of the biggest US wholesaler and importer of food products from Fiji, NZ, Australia, Costa Rica and Chile;
  • Ms Doreen Francis - Fiji Product Sales;
  • Ms Marilyn Montalvan - Office Manager.

Bonus : Participants will receive a list of US companies (and contact details) who wish to buy kava, dalo, cassava, rourou, fish, fruits, vegetables, canned foods, chillies, beach-de-mer, etc, and participants may contact these US buyers directly.

Registration fees is F$35.00 per person. The fee will cover full day workshop, workshop materials, hand outs, morning and afternoon tea, list of products that Montalvans Sale Inc wish to buy.

For registration, pls contact Ms Katarina Lala on telephone (679) 3315988 or e-mail katarina@ftib.org.fj in Suva or Ms Yvonne Ravaga on telephone (679) 6667133 or e-mail yvonne@ftib.org.fj at Lautoka.

Tuesday, March 20, 2007

Fiji Islands Trade and Investment Bureau Trade and Investment Missions to the North

The Fiji Islands Trade and Investment Bureau (FTIB) is organising a few trade and investment missions overseas. The intentions of the missions include :
  • to attract strategic joint venture partners in agriculture (agri-processing), marine (processing), forestry (value adding/manufacturing), ICT, tourism and other manufacturing sectors;
  • to explore export opportunities;
  • to source machinery, raw materials, packaging material, building material, consumer products, etc to improve business efficiency and competitiveness for exports.

Foreign investors that wish to intend to invest or set up business in Fiji can mark the following months when the missions will be visiting their countries:

  • China - May 2007;
  • Malaysia and Indonesia - June/July 2007;
  • India - October/November 2007.

Trade missions are also being scheduled for Samoa & American Samoa in May 2007 and to Papua New Guinea in July 2007.

Note : Foreign investors that need assistance and advice on setting up business or investing in Fiji can contact us on e-mail gilbert@connect.com.fj or telephone (679) 3396427.

Friday, March 16, 2007

Procedures for checking the background of foreign investors

Just to add on to the reports on today's Fiji Times, One National News and Fijilive posted earlier about who is responsible for checking the background of foreign investors, let me describe below my understanding of the investment approvals process.

When a new foreign investor first applies to the Fiji Islands Trade & Investment Bureau (FTIB) indicating its intention to invest in Fiji, the FTIB would grant a Foreign Investment Registration Certificate (FIRC) to the foreign investor, within a two to five-day period. The FIRC is a sort of "passport" document allowing the holder (i.e. the foreign investor applicant) to then go and obtain all the necessary approvals, licences and permits that would be required before it sets up business in Fiji.

The FIRC is, therefore, an approval, given by the FTIB which is CONDITIONAL on the holder getting all the necessary permits, licences and approvals from other government and semi-government agencies.

Once all other permits, licences and approvals are in place then the holder of the FIRC (i.e the foreign investor) can then commence business in Fiji.

With regard to checking the background of foreign investor companies and its directors, this task would normally be referred to the Reserve Bank of Fiji's money laundering section (now called the Financial Intelligence Unit) who would then use its established contacts to check the background of the company and its directors. [The Financial Intelligence Unit is under the Reserve Bank of Fiji.]

This was particularly important to ensure and to "sieve out" companies and individuals who have been involved in money laundering and criminal activities.

In the case of the management company of the FNPF's Natadola development project, what would have to be determined was whether the company was actually a foreign investor or simply a project management company.

If the company was an investor (i.e. a foreign investor) then the procedures I referred to above would have had been followed.

On the other hand, if the company was merely a project manager, then assuming that personnel at the local authorities knew the work they had to do as well as what assistance other institutions could offer, the FNPF would have approached RBF, again to use its "established contacts" to check the background of the company and its principals/directors.

So, was the company a foreign investor or simply a project manager?

The answer to that question would then determine who is at fault for not doing what was supposed to have been done.

Fiji National Provident Fund saga : Who is responsible for checking the background of foreign investors?

The Reserve Bank of Fiji and the Fiji Islands Trade and Investment Bureau have been blamed by the Fiji National Provident Fund (FNPF) for not checking the background of the management company and directors of FNPF's Natadola hotel/resort development project.

Reproduced below are reports contained in today's Fiji Times, Fijilive and One National News.


"Natadola shock Fiji Times, Friday, March 16, 2007


A DIRECTOR of the company developing the $140million Natadola resort project has quit after his criminal past was revealed.


Two project management companies involved in the project, which will ultimately see a world-class integrated tourism resort and golf course built on 638 hectares of beachfront land, have also been replaced.

Louis Gerard Saliot, French-born chief executive officer of Asia Pacific Resort International (APRIL), the Natadola project managers, quit when confronted with details of his previous conviction, said Natadola Bay Resort Limited chairman, Felix Anthony yesterday.


Mr Anthony said the 60-year-old Saliot had been jailed in Monaco in 1992 for two years for breach of trust and had faced the courts again in 1993 when he was given a three-year term for complicity of bankruptcy, breach of trust, forgery and use of forgeries.

Mr Anthony would not reveal yesterday how the details of Mr Saliot's criminal past had come to light, but revealed Interpol had been used to trace Mr Saliot's history.

A copy of an Interpol document, addressed to FNPF manager Viliame Vodonaivalu and countersigned by Senior Superintendent of Police, Ravi Narayan, was made public at a press conference held by Mr Anthony yesterday.


Mr Anthony said Mr Saliot admitted the convictions when confronted by them.

He said the project managers, APRIL, which was hired as project manager in April 2004, and European project management group COTEBA, have been replaced by HLK Jacobs as interim project managers.


The Natadola Resort project is backed by the Fiji National Provident Fund, which has so far invested $60million into it. Natadola Bay Resort Limited is a subsidiary of FNPF.


Mr Anthony said Mr Saliot had not disclosed his criminal background when applying for his foreign investor's licence, a breach of Fiji's investment laws.

"Both the licence and work permit have been obtained by falsifying documents," Mr Anthony said.


"One of the concerns we have is the role of the FTIB (Fiji Trades and Investment Board) and the RBF (Reserve Bank of Fiji), as they are the people who grant licences without a proper scrutiny of people who want to do business."


Mr Anthony said APRIL had been paid $8million in management fees in three years.

APRIL project manager Keni Dakuidreketi said it would be premature to comment as they were still holding talks with the FNPF.


"We will comment at an appropriate time," he said last night.


Mr Anthony said two of the major concerns raised about the project was it was late by 24 weeks
and the lack of accountability.


He said only 10 per cent of the resort construction has been completed so far.

However, Mr Anthony assured FNPF members that their funds were secured.

"The FNFP Board is fully committed to ensuring that members' funds are secured and protected and to see the completion of the project.


"Given this commitment, we will carefully scrutinise all funds that are utilised for investment purposes,'' he said.


Mr Anthony said investigations into the resort project were continuing with Australian chartered accountant firm of Ernst and Young contracted to carry out an audit. "


"It's Reserve Bank, FTIB fault: Anthony Fijilive, Friday March 16, 2007


The Reserve Bank of Fiji and the Fiji Islands Trade and Investment Board have been blamed for failing to properly investigate the people involved in the multi-million dollar Natadola Bay Resort Limited (NBRL) project in Sigatoka, one of whom is alleged to have a criminal record.

NBRL board chairman Felix Anthony claims that Interpol reports show that one of the NBRL directors Louis Gerard Saliot has a criminal record; that he has been jailed for two years for breach of trust, that he was declared bankrupt, and that his bankruptcy proceedings are still continuing before the courts in Monaco.

"And knowing this, we have come to discover that in applying for his foreign investor licence, he (Saliot) did not disclose as is required, his offence or convictions in that and as such obtained his licence without making a full declaration which itself is unlawful.

"We have also come to discover that in also applying for his work permit he did not disclose his convictions and his bankrupt status and again we believe that his work permits were obtained without full disclosure. As such this causes us great concern."

No comments could be obtained from Saliot but another partner Keni Dakuidreketi said they would comment later.

The NBRL is owned 100 per cent by the Fiji National Provident Fund.

In recent weeks, the new NBRL board (appointed in December last year by the new military regime) has been reviewing the Natadola project with two major concerns.

The main concern has been that the project was late by 24 weeks and the lack of accountability in the project.

"As chairman and board of the NBRL, we have has been very concerned with the progress of that project itself. It is a huge project, probably the biggest the FNPF has ever undertaken," Anthony says.

"The total project when completed would be in excess of $340 million but the hotel project itself is worth $140m of which up to date FNPF has already invested about $60m of the workers' money.

"As the board of NBRL we have been very concerned at how the project has progressed so far. There has been a delay of currently the project running 24 weeks late. And when we talk about delays it means costing FNPF much more money."

He said that apart from that the supervision of the project has been of major concern to them.

Anthony says the NBRL in 2004 hired APRIL (Asia Pacific Resort International Ltd) to be project managers for this development while COTEBA was hired as construction managers.

Since then, APRIL was paid $8m in management fees. APRIL's principals are Saliot and Dakuidreketi.

Anthony says that NBRL is not satisfied with the performance of APRIL and COTEBA and as a result have been replaced with HLK Jacobs appointed interim project managers and a quantity surveyor has also been appointed to work on the project.

Anthony said that in issuing the licence, the FTIB has a role to investigate the background of people it issues licences to. "They failed."

He said that the RBF also has a responsibility to do background searches on people before they allow people to come in and do business. "They failed and this is simply not on."

"This only exposes the laxity in our system." No comments could be obtained immediately from the RBF or the FTIB.

Anthony says it is FNPF's own initiative that they have come up with these findings.

"I think both these organizations have a lot to be desired in this area and not only that but because of their laxity organization's like us suffer.

"And it is not cheap, it costs us a lot of money when we have to restructure a project that is already in progress and this causes delays and all sorts of problem. And we are talking about workers' money," he said.

He says Saliot has tendered his resignation as a director with immediate effect. "


"Reserve Bank not to be blamed over Natadola project One National News 16 Mar 2007

The Reserve Bank of Fiji says it shouldn't be blamed for what has transpired in the deal between April Development and Natadola Bay Resorts Limited.


In a statement the bank says it's not the role of the Reserve Bank to check the backgrounds of foreigners who wish to undertake business in Fiji.


The bank says it was never asked by FNPF to undertake a background check on Gerard Saliot (Selio) or his company, adding this responsibility cannot be abdicated to the agencies of Government or the Reserve Bank.


In this case, the bank says this responsibility rests squarely on the FNPF Board.

And the Fiji Islands Trade and Investment Bureau says given the latest findings, they will now go through the process of reviewing the registrations granted to the Natadola Marine Resort Limited and APRIL Development.

Wednesday, February 21, 2007

Investors come in for FIT project

Investors will now be coming in for the Fiji Institute of Technology's (FIT) project to build a campus, training hospital and retirement village at Delainavesi, near Suva. The project had earlier been halted as a result of the political crisis. FIT is now finalising a lease over the subject and has provided and has provided all information required by the Fiji Islands Trade and Investment Bureau. The investors are from South Korea.

Wednesday, January 31, 2007

FTIB urges Government to maintain investment policies

The Fiji Islands Trade and Investment Bureau has urged the Interim Government to maintain current investment policies. The Bureau said that foreign investors are familiar with the current policies therefore there was a need to maintain them. This would keep foreign investors interest in investing in Fiji.

FTIB's Chief Executive Officer, Ms Lailun Khan, says that interest in investing in Fiji is getting off the ground again. A large agricultural project is to be put up by a Chinese Government investment at Navua over the next few months. The Chinese Government body is presently negotiating a deal with landowners there.

For more information on Fiji's current investment policy, pls visit http://www.ftib.org.fj/.

In the meantime, the Interim Government is currently working on a revised National Budget which will be announced in early March. The actual form the country's investment policy takes will be clearer then.

Foreign investors that require assistance with setting up in Fiji can contact our company, Gilbert & Samuels Company Limited, for assistance. Our contacts are : e-mail gilbert@connect.com.fj or telephones +679 3396427 or +679 9921427.