Local and foreign investments rake in millions

Local and foreign investments rake in millions

By fijivillage.com
Thursday 22/11/2012
Investment Fiji surpassed its 2012 target by $95 million, on the value of implemented proposals worth $620 million.

Chief Executive Officer Ravuni Uluilakeba said they were targeting $525 million worth of proposed investments.

Uluilakeba said this year they received 110 investment proposals valued at $700.44 million compared to 97 proposals last year and from this, 103 proposals have been registered but not implemented and valued at $308.4 million.

Uluilakeba said that from January to September they have registered a total of 103 investment proposals with 2,171 new jobs created which has surpassed half of the target.

Investment Fiji is targeting to create at least 4,000 new jobs in the country before the end of next month which will come from tourism, real estate and manufacturing.

Local investments are also expected to rake in millions into the economy and create new jobs.

In particular the $30 million Damodar City Complex which opens mid next year is expected to create 400 new jobs.

The $70 million re development of the iconic Grand Pacific Hotel is also expected to be complete by the third quarter of 2013.

New jobs will also be created when the ANZ Pacific headquarters in Melbourne will be shifted to Fiji.

The new $3 million shopping complex in Carreras Road in Votualevu, Nadi has also resulted in 50 new jobs. 

22 new jobs were created after MH Homemaker opened its new Homemaker outlet on Nadi Back Road last month.

More jobs are expected to be created in Tavua as investment is expected to increase next year. 

Special Administrator Arun Prasad said a complex will be built and people will be employed at the site.


Story by: Filipe Naikaso
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