February 13, 2017 3:03 pm

Korean delegation explore investment opportunities

An 8-member delegation from the Korea-Fiji Friendship Association had preliminary discussions with Investment Fiji on Friday.

The delegation was in the country to seek guidance in potential investment ventures and explore incentives provided by the Government.

Investment Fiji CEO, Mr Mueller-Teut said Korean investors were not new to the Fijian economy and hoped to utilise Fiji’s strategic location in the region and invest in agriculture, renewable energy, tourism and manufacturing sector.

“Being the “hub of the Pacific” Fiji is also a strategic transshipment centre for cargo traded between the Pacific Island States. In 2015 total Exports to PIC’s equated to $482.5m, exceeding total combined exports to New Zealand and Australia of $372m.”

The CEO added that the Government had set the platform for investment and growth by introducing a number of incentives such as low corporate tax rates, tax-free regions and duty free importation of plants, machinery and equipment for initial establishment of the factory.