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Japanese investments in Fiji over the past five years has been worth $4.5million (US$2 million).
This was highlighted by the Minister for Industry, Trade and Tourism, Local Government and Community Development Premila Kumar while opening the two-day 2020 Japan Trade and Investment Mission at the Japan-ICT Centre at the University of the South Pacific, Suva.
Minister Kumar encouraged Japanese investors present at the two-day seminar to consider outsourcing their business processes to Fiji thereby taking advantage of the infrastructure and talented workforce available.
“We strongly believe there is potential to increase this further, especially with the resumption of the direct flights between Fiji and Japan.”
“I encourage the Japanese entrepreneurs to explore investment opportunities in sectors such as light and green manufacturing, commercial agriculture, tourism, ICT, BPOs, amongst other areas you may have in mind.”
Minister Kumar also encouraged investors to partner with the municipal councils on a number of development projects.
“There is potential for joint venture projects, such as, sporting facilities, community infrastructure, shopping arcades, waste management infrastructure, to name a few.”
Meanwhile, two-way trade between Fiji and Japan in 2018 was approximately $428.2 million (US$192.9 million), out of which Fijian exports to Japan accounted for $161.5 million (US$72.7 million) while imports from Japan were around $266.6 million (US$120.1 million, resulting in trade deficit of $105.1m (US$47.3 million).
“From Fiji’s perspective we need to increase our exports. Thus, events such as this Trade and Investment Mission, forms a foundation for us to move towards elimination of this trade gap.
“I would urge our private sector to network and discuss how this could be done. It will also be in our interest to source investments from Japan either through joint ventures or entirely through foreign direct investment.”
“Our experts, no doubt, will highlight the potentials that Fiji has in terms of exportable products and areas where investment is welcomed.”
“Our bilateral links extend to development and education assistance, increase in people-to-people links and of course at the diplomatic level,” She said.
SOURCE: FIJI GOVT/PACNEWS
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