November 23, 2012

FNPF reforms and investment

17:05 Thu Nov 22, 2012
Report by: FBC News

The Momi Bay Resort is back on the agenda for the Fijian Government as it tries to better the affairs of the FNPF.

He adds the FNPF will also look at other avenues to better its operations.

“FNPF is faced with the continuing challenge of finding new investment. Opportunities that provide adequate returns for its members. It also has the task at turning around some of these non-performing assets. In this regard I’m pleased to announce that stage one of the Momi Resort development will commence at the beginning of the second quarter of 2013. Accordingly, FNPF will complete the development of the resort with an estimated investment of $150 million. Government will of course assist this initiative by ensuring the project is completed expeditiously,, As part of government collaboration with FNPF it will sell its overseas mission properties to FNPF and lease them back. This will provide FNPF offshore investment opportunities with attractive and sustained returns while reducing the operational costs for government.”

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