Government of the Republic of Fiji
Government of the Republic of Fiji
11/15/2024 | Press release | Archived content
AMBITIOUS ECONOMIC DIVERSIFICATION PLANS FOR...
Deputy Prime Minister and Minister for Trade, Co-operatives, SMEs and Communications, Hon. Manoa Kamikamica, has shared the Coalition Government's strategic vision to diversify the nation's economy, boost support for small businesses, and transition Fiji toward a digital economy.
Speaking to a group of business people, stakeholders, and investors in Matei, Taveuni, DPM Kamikamica outlined key initiatives aimed at broadening the economic base and creating a resilient future for Fiji.
DPM Kamikamica emphasised the Coalition Government's efforts to expand beyond Fiji's reliance on tourism, noting that sectors such as manufacturing, agriculture, and ICT present substantial growth opportunities.
"We're looking at areas beyond tourism, both ancillary industries linked to it and new sectors altogether," DPM Kamikamica stated.
The Deputy Prime Minister also highlighted the establishment of a dedicated ministry to support micro, small, and medium enterprises (MSMEs), recognising them as a vital part of Fiji's grassroots economy.
"With MSMEs currently contributing 18% to the GDP, the Government aims to increase this figure to 30% by 2030.".
DPM Kamikamica also outlined Fiji's ambitious goal of transitioning to a digital economy and emphasised the importance of enhancing government services through digitisation and updating regulatory frameworks. This strategic shift aims to streamline services, improve the ease of doing business, and foster greater investment in Fiji's technology sector.
A significant highlight of DPM Kamikamica's presentation was the announcement of Google's investment in new undersea cable networks throughout the Pacific, including Fiji.
The introduction of new cables in Fiji is set to enhance connectivity by establishing multiple access points. This improvement will mitigate the risk of service disruptions and pave the way for the advancement of the country's ICT infrastructure. The Deputy Prime Minister emphasised the potential for Fiji to emerge as a regional technology hub, with promising prospects in sectors such as business process outsourcing, artificial intelligence, and cybersecurity.
"We're seeing increased interest in Fiji as a tech hub, especially for cybersecurity and AI," the Communications Minister noted. "With the 'follow the sun' business model, Fiji's time zone aligns perfectly for companies needing round-the-clock operations."
Further, DPM Kamikamica reaffirmed the Government's commitment to achieving sustainable economic growth, with a medium-term goal of reaching a 5% annual growth rate, emphasising that the growth target is essential to address Fiji's national debt and ensure a prosperous future.
"Only through broadening our economy and investing in the future can we secure Fiji's economic stability and enhance the lives of all Fijians," DPM Kamikamica said.
Speaking to a group of business people, stakeholders, and investors in Matei, Taveuni, DPM Kamikamica outlined key initiatives aimed at broadening the economic base and creating a resilient future for Fiji.
DPM Kamikamica emphasised the Coalition Government's efforts to expand beyond Fiji's reliance on tourism, noting that sectors such as manufacturing, agriculture, and ICT present substantial growth opportunities.
"We're looking at areas beyond tourism, both ancillary industries linked to it and new sectors altogether," DPM Kamikamica stated.
The Deputy Prime Minister also highlighted the establishment of a dedicated ministry to support micro, small, and medium enterprises (MSMEs), recognising them as a vital part of Fiji's grassroots economy.
"With MSMEs currently contributing 18% to the GDP, the Government aims to increase this figure to 30% by 2030.".
DPM Kamikamica also outlined Fiji's ambitious goal of transitioning to a digital economy and emphasised the importance of enhancing government services through digitisation and updating regulatory frameworks. This strategic shift aims to streamline services, improve the ease of doing business, and foster greater investment in Fiji's technology sector.
A significant highlight of DPM Kamikamica's presentation was the announcement of Google's investment in new undersea cable networks throughout the Pacific, including Fiji.
The introduction of new cables in Fiji is set to enhance connectivity by establishing multiple access points. This improvement will mitigate the risk of service disruptions and pave the way for the advancement of the country's ICT infrastructure. The Deputy Prime Minister emphasised the potential for Fiji to emerge as a regional technology hub, with promising prospects in sectors such as business process outsourcing, artificial intelligence, and cybersecurity.
"We're seeing increased interest in Fiji as a tech hub, especially for cybersecurity and AI," the Communications Minister noted. "With the 'follow the sun' business model, Fiji's time zone aligns perfectly for companies needing round-the-clock operations."
Further, DPM Kamikamica reaffirmed the Government's commitment to achieving sustainable economic growth, with a medium-term goal of reaching a 5% annual growth rate, emphasising that the growth target is essential to address Fiji's national debt and ensure a prosperous future.
"Only through broadening our economy and investing in the future can we secure Fiji's economic stability and enhance the lives of all Fijians," DPM Kamikamica said.