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Fiji Time: 5:07 AM on Thursday 24 April

/ Front page / Business

Budget benefits

Sherita Sharma
Tuesday, December 18, 2012

INCENTIVES offered by the 2013 Budget will benefit investments in the country, says Investment Fiji chief executive officer Ravuni Uluilakeba.

The incentives would also mean greater awareness for potential local and foreign investors. He said the removal of the $250,000 minimum investment requirement and the reduction of corporate tax from 20 to 17 per cent would attract a lot of investors.

"A corporate tax of 17 per cent is one of the lowest you can see across the Asia-Pacific region," he said.

"When you look at the investment numbers coming into the country, we have bettered our targets."

He said registrations for investments were almost over 20 per cent.

"Regarding implementation, we are well our target of $600m. It shows confidence of investors and at the same time creates more ease of doing business into the country."

The World Bank ranking placed Fiji's ease of doing business status as 60 compared to 77 last year.