The investment climate in Fiji presents many unique opportunities for foreign investors.
These are the comments of Ian Tarutia, the CEO of Nasfund Papua New Guinea’s National Superannuation Fund which is the major partner in the Grand Pacific Hotel project.
According to Tarutia the micro environment of Fiji indicators are favorable, the tax regime is attractive, while Fiji is also experiencing a low inflation.
Tarutia further explains the benefits and returns of investing in the redevelopment of the Grand Pacific Hotel.
Tarutia added that the project will be completed by the first quarter of next year, as construction faced delays due to the shortage of cement supply and also the weather.
Meanwhile, the Grand Pacific Hotel project is being carried out in a partnership between the Fiji National Provident Fund which holds 25% of the shares, 50% is owned by Papua New Guinea National Superannuation Fund while Lamana Development Limited of PNG owns 25% shares.
Story by: Sofaia Koroitanoa & Gwen McGoon
