Promoting economic

development

The Fiji Trade and

Investment Board (FTIB) was formed as a statutory organisation by the Economic Development Board in 1980 to promote, stimulate and facil itate the economic development of Fiji. FTIB is an independent board which operates along private sector lines. The board provides a range of services to promote investment in and the development of industries or enterprises which benefit the nation al economy. To meet its objectives, the FTIB undertakes a number of activities which include promotional activities, advisory and information services, export marketing assis tance.

Dubbed as the One-Stop-Shop, FTIB acts as a liaison between the potential investor and the government’s project committee. The board promotes Fiji’s incentive’s schemes, conducts investment seminars and target overseas and local investors in the advertising and promo tional campaign. An investment under the investment are tax concessions where government is working towards a more automatic system with equal treatment for investors in all sectors of the econo my. Another incentive is of tax free zones just outside the capital city of Suva. This will offer tax and customs concession and access to already developed factory space.

There are also customs concessions available for projects in different sectors and deregulation of exchange control policies. Here the Reserve Bank of Fiji has embarked on a programme of finan cial reforms designed to enhance the effi ciency of the services provided by the financial sector.

The comfortable level of foreign reserve has prompted the RBF to relax Exchange Control measures as well as to expand measures to encourage export growth. Under guarantee to investors all investment in either manufacturing, agri culture or export related services will be open equally to foreign and local investors. ■