Forum criticizes Investment Fiji's performance
08:02 Sun Aug 05, 2012
Investment Fiji chairman Adrian Sofield
Taken from/By: FBC News
Report by: Ritika Pratap
Investment Fiji’s performance over the last few years came under fire at the business forum organized by the Suva Chamber of Commerce and Industry.
President Dr Nur Bano Ali says improvements have been made but they aren’t
“The investment Fiji body has to really get a clear direction as to what it is really going to do. It is not only the issuer of the certificate for working in Fiji. It should take its role a bit more than that. It should facilitate a bit more in terms of achieving approval for business processes.”
Foreign investors currently have to go through twenty two different agencies to get a license to operate in Fiji. It takes forty five days to complete the process.
Investment Fiji chairman Adrian Sofield says this is where Fiji loses out and its Pacific neighbors gain.
He says Fiji’s ratings have dropped in a World Bank survey.
“Fiji ranks 77 on the survey where as our neighbors – Solomon Islands rank 74, Vanuatu 76 and we have Tonga at 58. In Fiji we have to go through 9 procedures to starting up a business where has Samoa has four. And I know in the last few years we have lost some business to Samoa.”
Investment Fiji says it needs money for marketing and promotion, if we are to attract foreign investors.
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