one-stop-shop
p. 17 · Read in the full issue
Ftib’S
By Sudesh Kissun
FIJI government’s decision to transform Fiji Trade and Investment Board into a one-stop-shop means investors will now receive the final authority from the board to set up their ventures. Minister for Commerce, Industry and Tourism, Harold Powell said the FTIB reform would expedite the present practice and procedures relating to employment opportunities and investment.
Powell’s presentation was well re ceived by delegates at the joint Fiji/
Australia, Australia/Fiji Business Coun
cils meeting.
Powell said the FTIB would ensure investors received all necessary approvals within the shortest time possible.
Potential investors must be given a dear understanding of the necessary ipprovals and the terms of those ap provals and the relevant offices must be idequately staffed with well trained jfficials to create the right and encour impressions at the entry point of he one-stop-shop,” Powell said.
Under the reform program the fre [uency of the meeting of the board’s
project commPtee has been increased from every three weeks to two.
The committee is made up of represen tatives from ministries with responsibility for different issues arising from a project proposal.
For example, the Customs Depart ment is represented to offer advice on a project where a request for duty con cessions forms part of the proposal and
Immigration Department is represented
to advise on any proposal involving an
application to employ expatriate staff.
The government has also decided to have all government departments and ministries represented on the committee to include heads of departments or senior officers with the authority to commit their ministries to the committee’s de cision.
Powell said the present problem was that representatives of these departments were not always in positions to give the final approval to a decision made by the committee.
“This means that it is not uncommon to find departments and ministries rep resented on the committee do not always
abide by the decision passed on to the potential investor by the projects com mittee.”
All project applications submitted to FTIB will be accompanied by relevant application forms for work permits, exchange control approvals, duty con cessions requests, tax concession requests and registration forms. The FTIB will now obtain all approvals on behalf of the investor.
Approval by the immigration rep resentative in the project committee will be final, waiving the existing require ments for the immigration work permit committee to review such applications.
Powell said the prospective investor would receive a complete package from FTIB allowing him to operate his venture the next day after receiving approval. The targeted time frame for final and complete package of approvals to be passed to the investor is three weeks after project committee approval.
The reforms are based on the oper ations of the Malayasian Industrial Development Authority. An FTIB team visited Malaysia to study MI DA oper ations there.
Powell said Fiji was one of the many developing countries competing to at tract investment and needed more effec tive investment promotional activities.
“We have to be ready with suggestions, all the necessary details and we have to undertake rigorous follow up action to ensure we do not lose potential investors because after making initial contact, we failed to keep their interest.”
The minister said FTIB should keep in touch with investors to assist in any problems they faced while operating their ventures in Fiji.
The FTIB has established an im plementations and services division to assist investors already operating in the country. Powell said good sendees should be provided to the investors so that their investments were successful and word would spread that Fiji is an attractive and convenient place to invest in.
A team from the World Bank's Foreign Investment Advisory Service is in Fiji to assist FTIB implement the new reforms.
The team will also look at the possibility of establishing a single piece of legislation relating to investment. Powell said such a legislation would make it easier for investors to assimilate all of the regulat ory information they require in one document.
The men behind the idea: Minister Powell flanked by FTIB director Ratu Isoa Gavidi and permanent secretary Luke Rokovada