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Business Business

growth. The same will happen here. Already there’s shift- trade commissions and embassies in those markets. So we’ve
ing trading dynamics, there’s interests. And we’re fostering been very busy over the last few weeks just critically mapping
interests, interests from investors who have manufacturing out these plans which we can then go to market with very
operations in certain parts of the world who now can’t trade quickly,” he said.
with other parts of the world. And they’re saying: ‘we want Those key markets are Australia, New Zealand, the U.S., Ja-
to come to Fiji’. And they’ve started that dialogue so there’s pan, China and the emerging economies in the Pacific region.
already opportunities there that we’re starting to build into “You go to any Pacific Islands, you will find Fijian products.
the work that we do. In fact, this is a good opportunity to So if you’re an investor or if you’re a foreign investor looking
look at what we’re good at. If you look at some of the success to establish a manufacturing presence, this is the gateway to
stories of our manufacturing sector, we do high quality short other Pacific markets. Through MSG (the Melanesian Spear-
runs because of our proximity to market. We’ll never compete head Group trade pact), you have a very big market in Papua
with the economies of scale that some of our East Asian com- New Guinea and you’re also a gateway to other markets that
petitors can do. The key strength for Fiji is our geographi- are only six to 10 hours’ flight time away. And during normal
cal location and that isn’t going to move due to COVID. So it times, we have great flight connectivity, we have daily flights
comes back to making sure that we capitalise on this COVID that are going to the Americas, Asia, Australia, we’ve got good
opportunities. And we can only capitalise if we are proactive, sea connectivity and regular shipping routes that come from
and we are taking ourselves to the market in a very prescrip- North East Asia, South East Asia, Australia, New Zealand up to
tive way.” West Coast North America and back and also doing the loop
The planning is meticulous. Those plans, according to around the Pacific Islands. So those are all the things that
Strong, involve the development of specific country-based won’t change and those are the things that we need to make
marketing strategies. sure that we keep at the forefront of our execution.”
“Traditionally, what we’ve seen are growth sectors in Fiji At the heart of this execution is the matching of existing
are agriculture, manufacturing, services sectors and whole- and potential local export opportunities with investment
sale. What we’re doing in terms of our really prescriptive ap- offshore interests.
proach to our key markets is looking at these key sectors and “We look at existing businesses in Fiji that are looking to
seeing how we can dovetail those to these key markets. So, grow or enter into new industry and that’s when we come in
we’re making sure that when we develop these plans, we’re and say: ok, let’s go to the global market and look for a part-
doing them in collaboration with other ministries to ensure ner for you if you need to get into that space,” said Strong.
that we’re aligning ourselves with policy. We’re collaborat- “I’ve had over 100 meetings with businesses from as far
ing with business councils in our target markets and also our afield as Labasa, Savusavu, Ba, Lautoka and extensively in the

FIJI’S BUSINESS-FRIENDLY BUDGET

Fiji’s 2020-21 National Budget will see the Government
attempt to spend its way out of the COVID-19 induced
recession.
“The only thing standing between a COVID-recession
and a COVID-depression are herculean efforts to stimulate
economies” said Minister for Economy Aiyaz Sayed-Khai-
yum said in his Budget address on July 17.
The $3.67 billion budget will see Fiji’s deficit increase to
20.2%, pushing the debt-to-GDP ration to 83.4%.
Sayed-Khaiyum says borrowing at this point is an “invest-
ment in our future” not a debt-trap.
“Borrowing now to build for tomorrow means future
generations can borrow less. And a growing economy with
a skilled and educated workforce generates more than
enough national wealth and tax revenue to repay debt and
invest in the future,” he says.
For a full summary of tax concessions, tourism industry
support and incentives for current and new investors an-
nounced in the budget visit www.islandsbusiness.com

Islands Business, July 2020 21