Numerous opportunities for investors in tourism sector
Fiji’s dynamic and conducive business environment is attracting a number of foreign investors.
Investment Fiji Chief Executive Kamal Chetty says the country offers many exciting opportunities for businesses in a wide range of sectors, such as tourism, agriculture, and manufacturing, to name a few.
Chetty says there are numerous opportunities for investors to capitalize on the tourism sector.
“They want to attract one million visitors by 2024 and for it to happen, there are a lot of opportunities, one is accommodation gap, we see there will be a gap in accommodation, we currently on 12,000 rooms and for us to cater for one million visitors, much more is needed “
Fiji Revenue and Customs Service Deputy Director Policy Shavindra Nath says a number of incentives have also been implemented to attract more investors.
“So if you invest in a hotel sector and if your investment is at a minimum of $250,000 you get a tax holiday of five years, one million to two million you get seven years and anything more than two million you get 13 years so this is if you invest in hotel sector if you take over an existing hotel and renovate, there are concessions around that as well.”
The tourism industry aims to achieve a target of three million dollars in visitor economy by 2024.
Credit: FBC TV
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