THE country's investment marketing arm — Investment Fiji (IF) surpassed its 2012 target by $108.50million on the value of investments that were implemented.
Investment Fiji had targeted to implement $525m worth of proposed investment. That increased after IF received 110 investment proposals valued at $700.44m and implemented $633.50m worth of investment projects in the January to September quarter this year. In 2011, IF received 97 investment proposals valued at $440m and of these, it registered 94 investment proposals valued at $314m.
IF chief executive officer Ravuni Uluilakeba said in dollar value of the proposed investments they had received, Fiji generated 40 to 50 per cent more when compared to last year; and in the number of projects gained 12 to 13 per cent more.
"That shows the confidence of the investors coming in to invest, and similarly working side by side with us to ensure their investments are implemented," Mr Uluilakeba said.
He said when compared to last year's performance, the value of foreign investment registration certificate (FIRC) received this year increased by 59 per cent. He added the value of total projects implemented when compared to 2011 had also increased by 115 per cent and was 21 per cent above target.
"The positive result is through the stringent action on the site visits and monitoring," Mr Uluilakeba said. He said Fiji as a whole was very positive in the values and in the number of investments received.
While the figures showed the confidence of investors, Mr Uluilakeba also acknowledged the work of the 22 government enforcement agencies in streamlining its approval processes to ensure investors not only registered, but at the same time worked with investors to ensure those investments were implemented. He said achieving more than $50 to $60 million over the target of implemented investment value was a huge achievement.
"Investment Fiji has excelled in all investment proposals, value and employment creation received when compared to last year, the team are working towards providing investor friendly service to capture more investments," he said.