Fiji Times Logo

Fiji Time: 8:32 AM on Saturday 25 May

/ Front page / Business

$546m investment

Elenoa Baselala
Friday, August 31, 2012

THE first half of this year has seen 77 investment proposals worth $546million given to Investment Fiji.

However, 71 of these proposals worth $251.4m have been registered.

Investment Fiji chairman Adrian Sofield said the current figures did not reflect the $400m worth casino proposal in Denarau, Nadi.

As much as 1766 jobs are expected to be created from the 71 investment proposals that have been registered.

The four major booming sectors were agriculture and forestry (39.08 per cent), real estate (24.08 per cent), tourism (19.35 per cent), service (6.66 per cent) and wholesale and retail (6.49 per cent).

The new major investors were mostly from China (21.77 per cent), US (20.62 per cent), Australia (15.59 per cent) and Canada (4.69 per cent).

Investment Fiji chief executive Ravuni Uluilakeba said the Chinese investors were investing mainly in tourism. Investment Fiji this week announced $593million worth of projects have been implemented from 2011 so far, at least $184m above the target.

During the same period in 2011, only $227m worth of projects were implemented.

Investment Fiji is targeting to have at least $700m worth of investors for the year.