In an interactive session organised by the Indian Chamber of Commerce (ICC) Yogesh Punja, High Commissioner of the Republic of Fiji to India on Wednesday discussed various trade and business opportunities that the country offers to the investors.
Also present at the occasion was Harsh Patodia, Hony. Consul, The Republic of Fiji and CMD, The Unimark Group.
The programe was attended by eminent industry leaders from various industries such as food processing, textile, power and energy sector. Apart from them there were senior audit officers, engineers and NGOs.
Some highlighting factors came up by the end of the session. Fiji is witnessing a high economic growth for 10 consecutive years and unemployment rate has fallen to 4.5 per cent. The country has a literacy rate of 93.7 per cent. Mahogany is the largest forest resource of Fiji and it also has a huge sugar industry. Moreover, Fiji boasts of its fishing and tourism industry. Fiji pearls are also very famous. At present, the country is exporting mineral water which has created a niche market in the USA and other countries, including India. Though the country is not into growing grains, Fiji also exports a whole range of organic products. Punja mentioned that Fiji was focused on sustainable energy production and distribution. Around 60 per cent of the total energy demand in Fiji is being met by hydro power. Currently Fiji is using the solar power for consumption purpose only.
Fiji has a good connectivity with Australia, New Zealand, the USA, Japan, Korea, and Singapore. There are around 4-5 flights per day between Fiji and Australia.
Fiji has immense opportunity in terms of land availability also. They have dedicated land bank and the leased land can go for 12 years tax free. The country has cheap and skilledlabor. Moreover, the country offers 75 per cent tax rebate on the investments made in Fiji.