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Fiji Time: 8:38 AM on Friday 25 April

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Policies spur growth

Tevita Vuibau
Friday, November 30, 2012

GOVERNMENT fiscal policies continue to impress local businesses with supermarket chain Newworld crediting the progressive budgets of the Bainimarama government for spurring growth in the local economy.

Newworld Limited chief commercial officer Govind Yajurvedi remained adamant and said new development projects like the Damodar City complex in Raiwai were a sign of government fiscal policies positively affecting the economy.

He made the comments after Newworld Limited became the latest company to lease store space in the complex that will open in the first quarter of next year. "This is a sign the economy is improving. In the last couple of years, there have been progressive budgets and a lot has been done for the community and for business," Mr Yajurvedi said.

"With that, we are very optimistic that we will be doing well and the Fiji economy is on an upward track," he said.

Mr Yajurvedi said policies in this year's budget like the declaration of the Korovou-Tavua area as a tax free region greatly interested Newworld Limited.

"The government has come out with its incentive schemes from Tailevu to Tavua and we are looking into those opportunities if there is anything for us there," he said. With the year about to come to an end, Mr Yajurvedi said business for Newworld Ltd had improved from 2011.