Around 90 investment projects valued at $1.8 billion were ready to be materialised according to the Investment Facilitation Committee chair, Ministry of Commerce, Trade, Tourism and Transport permanent secretary Shaheen Ali.
The ministry in a statement said the committee had met yesterday to develop a way forward to facilitate investment projects which were pending with the approval agencies.
Mr Ali called for support of the approval agencies to streamline and fast track approvals, without compromising the laws.
“These investments are critically important now, as we are shaping our economic recovery,” he said.
“If the committee is able to unlock these investment projects, we will change the economic landscape of Fiji.
“The committee will focus on achieving results and at the same time identifying administrative hurdles that can be reviewed and revised.”
It was also stated the committee had unanimously agreed to work in collaboration to facilitate and support the current and new investment projects.
Each agency was said to have pledged to provide full support and guidance to potential investors and remain engaged with the investors to ensure there is clear understanding of the rules and regulations.
“The committee has identified a number of critical investment projects where agencies will be providing support to the investors to realise their investments and to ensure they understand and comply with all the requirements” said Mr Ali.
Co-chair and Governor of the Reserve Bank of Fiji, Ariff Ali had commended the agencies for their solution driven attitude.
He called upon each committee member to be result driven and not to lose sight of the broader goal of making the business environment easier.
The Investment Facilitation (Core) Committee was stated to be comprised of Ministry of Commerce, Trade, Tourism and Transport, as chair and secretariat, Reserve Bank of Fiji, Ministry of Economy, Ministry of Environment, Ministry of Lands and Mineral Resources, Ministry of Local Government, iTaukei Lands Trust Board and Investment Fiji.
The committee had been mandated by the Fijian Cabinet to work with all the investment approval agencies to improve approvals processes as well as to fast track investments which were being held up because of bureaucratic processes.
