PM Bainimarama - Remarks at the Bank of Baroda's Centennial Celebrations
Jul 21, 2008, 09:51

Commodore Josaia Voreqe Bainimarama
Prime Minister and Minister for Public Service, Peoples� Charter for Change, Information, Provincial Development and Multi-ethnic Affairs and Indigenous Affairs


Civic Centre Auditorium Saturday 19th July 2008
SUVA 1800 Hours



∑ The Indian High Commissioner, His Excellency Prabhakara Jha;
∑ The CEO Bank of Baroda, Mr Rakesh Sharma;
∑ The Management and Staff of Bank of Baroda;
∑ Invited Guests;
∑ Ladies and Gentlemen.

Ni sa bula, Namaste and Good evening to you all.

Thank you for the invitation to be your chief guest at this significant milestone in the Bank�s history and also for the generous welcoming remarks.
To achieve 100 years is indeed a remarkable feat for your organization and for this we must acknowledge the efforts of those who have made the Bank of Baroda a success story in the world. For Baroda it has truly been 100 years of banking with passion.

I am told that the Bank of Baroda is considered as India�s International Bank, more so, it is encouraging to note that it is known as the Peoples Bank in Fiji. The Bank has been offering products and services at affordable rates in Fiji for the last 46 years.

It was in 1961, when the Bank initiated its operations in Fiji with a branch at Marks Street in Suva on 5th July, 1961. The Bank then expanded to the western region of Fiji by opening another branch in Lautoka on 14th June, 1963.

Having the potential to expand its operations, four agencies were further opened in Nadi, Rakiraki, Tavua and Ba. It is a delight to know that currently there are (eight) 8 branches in all major towns and cities and the Bank is also exploring opening up a branch in Savusavu.

I would like to commend the important role the Bank has played in the development of Fiji since its inception. The Bank has provided service to all from students, farmers, elderly, small and medium enterprises and also big corporates.

On behalf of the Government and people of Fiji, I would like to record our appreciation for the staff and Management of Bank of Baroda, past and present, who have worked tirelessly in sustaining the Bank�s operation in Fiji.

This occasion also signifies, in my view, the important historical association between our two countries Fiji and India which is now moving into a new era with India becoming one of the fastest growing economies in the world.

The Interim Government wishes to send a clear signal to the business and financial community about its strong commitment to the promotion of local and foreign investment in the country.

It is this growth that will generate jobs for Fiji people and produce greater prosperity.

The Interim Government is determined to move the economy to a path of economic growth and prosperity.

We are working to ensure that investment incentives are regularly reviewed so that its intended objectives are met through quality and sustainable long term investment returns to the country.

Currently, the Interim Government is putting a lot of emphasis on rural development, particularly through improving infrastructure and transportation for people living in these areas and outer islands, better utilisation of land and revitalisation of agriculture.

Under our �Look North Policy�, special emphasis is being placed on implementing various programmes of assistance to create opportunities and uplift the standard of living for people in Vanua Levu and the surrounding areas.

Government will continue with its sugar restructure programme to modernise and improve productivity in the sugar industry. We will also continue to support the tourism industry and place special emphasis in realising the full potential of forestry, fisheries and the copra industries.

Our fight against corruption and abuse and mismanagement of statutory privileges is continuing.

We are also determined to progressively bring down the rate of crime, particularly home invasions, and robberies.

An important aspect of our commitment to the international community as well as to our people, is the return of Fiji to true Parliamentary democracy.

The necessary preparatory work on this is being pursued in earnest.

Earlier this week, we had a very productive meeting with the Pacific Island Forum Foreign Ministers� Ministerial Contact Group.

I would like to reassure you all that the Interim Government is seriously and fully committed to the restoration of genuine Parliamentary democracy in Fiji through a General Election as soon as practicably possible.

I am aware that there are several immediate and medium-term problems that worry our people and in particular, our private sector. I can assure you that they worry us too and we are focused on addressing them.

The Government is fully alive to the challenge and has taken several steps to cushion the effects of the recent hike in food and fuel prices. I am confident that we will be able to moderate the price rise. But, we cannot ignore the fact that there are external factors contributing to this, over which we do not have much control.

Finally, I would like to encourage the Bank to continue to assist in the development of our country so that we can Build a Better Fiji for All.

Once again, it has been a pleasure to be amongst you all this evening and on behalf of the Government and the people of Fiji, I would like to wish the Bank of Baroda a happy centennial celebrations and success in the years to come.

Thank you, Vinaka Vaka Levu and Dhanyavaad.

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