INVESTORS play a crucial role in the growth of any economy so when the Suva Chamber of Commerce and Industry organised a business luncheon presentation yesterday, potential investors and like-minded individuals turned up with a listening ear at the Holiday Inn in Suva.
Investment Fiji chief executive officer Ravuni Uluilakeba later revealed Fiji's investment status had improved over the years — achieving their target of over $600million through implemented projects so far.
"Our target by the end of the year is to hit the $700 million mark — so that's been positive," he said.
On the issue of creating a smooth process to rake in foreign investors through online registration via tier one and tier two agencies, Mr Uluilakeba said they hoped to get around 11 government agencies (in tier two) on board before the end of the year. "This is where they (potential investors) can apply online and do payments at the same time — that was the biggest barrier before where they could apply but couldn't make payments," he said.
"When we look at the current investment act, there is definitely a barrier with the minimum $250,000 threshold.
"That could be an arena to look at — the review of our Foreign Investment Act — whether to reduce it or take it up because we have waivers being requested specifically for that. Reviewing of those is definitely a must."
Meanwhile, Mr Uluilakeba commended the objective of the forum which aimed to foster better relations with Indonesia. Indonesian ambassador to Fiji Aidil Chandra Salim shared similar sentiments adding although Singapore seemed to be Fiji's biggest import trading partner, Indonesia had the potential to match the demands and needs of the country.