The Investment Facilitation Committee, chaired by the Permanent Secretary for Commerce, Trade, Tourism and Transport, Shaheen Ali, met today to develop a way forward to facilitate investment projects that are pending with the approval agencies.
The Committee has been mandated by the Fijian Cabinet to work with all the investment approval agencies to improve approvals processes and to fast track investments that are being held up due to bureaucratic processes.
The Chair highlighted that there were approximately 90 projects valued at $1.8 billion, ready to be materialised. He 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. If the Committee is able to unlock these investment projects, we will change the economic landscape of Fiji,” said Mr. Ali.
“The Committee will focus on achieving results and at the same time identifying administrative hurdles that can be reviewed and revised,” added the Chair.
The Committee unanimously agreed to work in collaboration to facilitate and support the current and new investment projects. Each agency pledged to provide full support and guidance to potential investor 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 the Permanent Secretary.
Also speaking at the forum, the Co-Chair, Mr Ariff Ali, Governor of the Reserve Bank of Fiji, commended the agencies for their solution driven attitude and called upon each committee member to be result driven and not to lose sight of the broader goal of making business environment easier.
The Investment Facilitation (Core) Committee is 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.
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