The Government of Fiji offers attractive incentives to all businesses and investors to help them succeed. Our corporate income tax, at 20%, is among the lowest in the world.
There are tax-free zones for investors with tax holidays ranging from five years to 13 years, depending on the level and type of investment.
You can therefore practically run a business and go on an extended holiday.
Our Gross Domestic Product (GDP) has been impressive, with six years of consecutive growth from 2010.
The Reserve Bank of Fiji has forecast 3.5% growth for 2016.
There could be a downward revision in the forecast since Tropical Cyclone Winston in February devastated the country, affecting more than 40% of Fiji’s population. The natural disaster is estimated to have cost the national economy F$ 1 billion.
Nevertheless, the revised growth forecast is still expected to be positive.
The efforts undertaken by the Fijian government and the support of Fijians and international communities have helped to restore most services. In less than a week of the unwanted visit by TC Winston, tourism and the private sector were back in business showing that we are resilient.
Your business in Fiji will not only be a source of economic growth, employment and development but will also contribute towards re-building the country.
Super 15 in Suva
For all Rugby enthusiasts, remember that Fiji is hosting the ‘Super 15’ match between the Crusaders and the Chiefs at the ANZ National Stadium in Suva on July 1, 2016. Please book your flights on Fiji Airways and your hotel accommodation early to avoid disappointment.
Speaking at the 19th Annual ANZ Fiji Excellence in Tourism Awards Night held at the Denarau Convention Centre, Sheraton Fiji Resort on February 19, 2016, Prime Minister Josaia Voreqe (Frank) Bainimarama reassured local and foreign investors of the investment climate in Fiji.
“The Fijian Government’s philosophy is to encourage business by establishing rational and equitable economic policies, removing unnecessary barriers, creating a level playing field, investing in infrastructure, and making strategic investments that will promote growth and yield big dividends.”
Harish Lodhia is Honorary Consul of Fiji in Auckland. The above is an edited version of his speech at the ‘First Fiji Business Dinner’ hosted by Indian Newslink and Radio Tarana at Pullman Hotel, Auckland on Monday, March 21, 2016. Please read related stories in this Section, on Page One and our Leader, ‘New Initiative to tighten the Fiji bond’ under Viewlink on Page 12
Sections of our guests at the ‘Fiji Business Dinner’ on March 21, 2016
Pictures by Narendra Bedekar