THE constitution consultation process should be followed through in a transparent and consultative manner to inspire confidence and raise the level of investment and economic growth in Fiji, says the University of the South Pacific's Dean of the School of Economics, Dr Biman Prasad.
Commenting on the importance of promoting a conducive environment for investors at the Fiji Economy Update 2012, Dr Prasad said while there was confidence in the economy, the present path to elections in 2014 would have set the foundation for better growth in 2013.
"The tax reform from the last budget was very bold when it looked at tax reduction but I think it's too early to judge the impact of the reduction whether people consume more or invest more will depend on level of investment we'll bring into the economy in the next 18 months," he told The Fiji Times.
Fiji Revenue and Customs Authority chief executive officer Jitoko Tikolevu shared similar sentiments, saying boosting investor confidence was an area they hoped to improve.
"The CEO for Investment Fiji earlier indicated positive figures of around $600million in investment levels and we are just beneficiaries of that," he said.
"The online process to speed clearance of applications is another genuine issue that everybody's interested in — streamlining these investment processes.
"The online registration is in place and we must go higher than our neighbour, Tonga. Everybody's working towards that."
Some issues raised at the economic update include security issues considering the country's political history, staggering criminal activities and brain drain, points Dr Sunil Kumar emphasised had played a part in discouraging investors to the country.
Dr Kumar added subsectors could capitalise on this investment aim by co-operating with neighbours on quarantine and customs issues.
The update was held at the Holiday Inn, Suva, and organised by the University of the South Pacific's School of Economics' Faculty of Business and Economics.