1 / 22

Winning FDI Through Effective Investment Facilitation December 2-4, 2010 - Sydney, Australia

Winning FDI Through Effective Investment Facilitation December 2-4, 2010 - Sydney, Australia. Why Good Facilitation Matters. Mr. Ravunivadra Uluilakeba – Chief Executive Officer Fiji Islands Trade & Investment Bureau. 0. Overview of Fiji; economic & financial fundamentals

senwe
Download Presentation

Winning FDI Through Effective Investment Facilitation December 2-4, 2010 - Sydney, Australia

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Winning FDI Through Effective Investment Facilitation December 2-4, 2010 - Sydney, Australia Why Good Facilitation Matters Mr. Ravunivadra Uluilakeba– Chief Executive Officer Fiji Islands Trade & Investment Bureau 0

  2. Overview of Fiji; economic & financial fundamentals Role & Functions of the Fiji Islands Trade & Investment Bureau (FTIB) FTIB’s Policy FTIB’s IPI Performance Results Strategies – Effective Facilitation How Effective Facilitation contributes to the economy Why Facilitate investment projects Way Forward Presentation Outline

  3. Fiji is an archipelago of around 330 islands in the South Pacific approx. 2,700 kms East of Australia 1874 - British Crown Colony (October 1970 – Independence) Fiji’s population at 827,900 (Census 2007) : 57%  Indigenous Fijians, 38%  Indo-Fijians; and 5%  Chinese, Pacific Islanders and foreign residents. The business language is English. Middle income country - US$3,343.7 per capita income in 2008 Main sectors of the Fiji economy/sources of foreign exchange: Tourism; Textiles, Clothing & Footwear; Agriculture, Forestry & Fisheries; Mineral water. Main trading partners are Australia, NZ, the US, Japan and the Eurozone Well educated workforce - Literacy rate of 93.7% Overview of Fiji

  4. Fiji’s Exports to Major Markets 2006-2009 Overview of Fiji….cont’d Currency peg : F$1.00 = USD 0.4997 (5 July 2010) Source: Fiji Islands Bureau of Statistics 2009

  5. Foreign Investment Projects Registered 2006 – 2009 Overview of Fiji….cont’d Currency peg : F$1.00 = USD 0.4997 (5 July 2010)

  6. Role & Functions of FTIB Created in 1980: Marketing Arm of Government Key functions Promoting; Facilitating; & Stimulating Investment & Exports Making potential investors aware FTIB will help get their project going / incentives available, etc

  7. Investment Policy Non-discrimination of foreign investors on grounds of nationality Investors are protected regarding acquisition of property Easy repatriation of profits; facilitated by Reserve Bank of Fiji Fiji Government highly supportive of exports/investment  2010 National Budget; 2009 Devaluation Foreign Investment Access  Foreign Investment (Amendment) Act 2004 Exceptional to Fishing business; almost all investment areas can be fully foreign owned

  8. - IPI Performance Results

  9. - IPI Performance Results

  10. - IPI Performance Results

  11. Short listing Key Investment Factors • Fiji is a regional and global hub. • Offering a package of trade and investment incentives - duty concessions, investment allowances, tax exemption and tax free regions; • Low Corporate Tax Rate of 28%; • A Government which welcomes and supports local and foreign investment, within its overall objectives of growing the various sectors of Fiji’s economy; • State of the art telecommunication infrastructure; • A well developed infrastructure, including electricity, water supply and internal communications. • Availability of land at reasonable rates for factory and building construction. • Well developed banking and financial institutions providing full financial services.

  12. Short listing Key Investment Factors ….cont’d • Fast registration of foreign investment projects. • Well educated workforce with a literacy rate of 93.7%. • Good health and medical facilities including a modern private hospital and medical centres. • Fiji is signatory to various trade agreements, frameworks and memorandum of agreements:This allows for better market access and provides a conducive investment climate and opportunities with other countries. The trade agreements are as follows: • Bilateral Trade Agreements • Regional Trade Agreements • Multi-lateral Trade Agreements  • Framework Agreement • Fiji has established Memorandum of Agreements with India and China

  13. FTIB’s Strategies: • FTIB implements Government policies • We encourage investors to abide by Fiji’s laws and to take advantage of the incentives available to them • FTIB promotes a pro-investor environment amongst Government agencies; encouraging foreign investors to remain in the country and continue to inject foreign income in the economy • Internal system in place – Customer Relationship Management (CRM) • Commitment of approximated timeline to investors in regard to responsiveness of services by FTIB – Proactive mode both in the Website and other mode of communication

  14. FTIB’s Strategies (Effective Facilitation) • Assigning FTIB Officers as: - respective investment sector officers - desk officers by different countries • Previously FTIB Main Office & 1 Regional office At present FTIB Main Office & 2 Regional Offices • Drive for Multi-Lingo information in website and web-friendly structure with inclusion of downloadable options • Sector Information development – implementation of case studies and comparison statistics • Show Business Case, Case Studies/testimonies from investors to support Contact Information on website.

  15. How Effective Facilitation contributes to the economy Facilitation encourages investors to go through with their planned investment and increases the chances of a project getting implemented, thus: • Increases the level of foreign remittances into the country; • Encourages local and foreign partnership at the private and public sector level (through joint ventures). • Increases competitiveness in the private sector and brings in a wider range of products for the local consumers to enjoy. • Utilizes Fiji’s untapped resources where local investment is not able to develop. • Increases employment opportunities in the country • Increase level of income earned, which will increase consumer expenditure and therefore contribute to the Gross Domestic Product of the economy.

  16. Why Facilitate Investment Projects • Ensure Government’s goals are achieved according to the National Strategic Plan • Increase implementation rate of projects – economic growth, employment creation, etc • Ease of implementing projects by investors • Investor friendly environment • Encourage joint ventures

  17. Case Studies – Successful Agriculture Projects

  18. Case Studies – Successful ICT Projects

  19. Case Studies – Successful Tourism Projects

  20. Case Studies – Successful Fisheries Projects

  21. Way Forward FTIB  one stop shop concept, we will meet, assist & / facilitate all investor needs FTIB set up all over Fiji (West/North/Capital)  can show you potential areas to set up your business, make all meeting arrangements, etc. (Fiji Embassy can facilitate this end) Government and Statutory Bodies to improve resources in various departments with assigned KPIs so that efficient services are provided to investors New trade office in Shanghai, Fiji missions in Indonesia, South Africa & Brazil.

  22. Fiji Islands Trade and Investment Bureau Thank You Vinaka Vakalevu

More Related