November 22, 2012

Local and foreign investments rake in millions

Publish date/time: 22/11/2012 [12:09]

Investment Fiji surpassed its 2012 target by $95 million, on the value of implemented proposals worth $620 million.

Chief executive officer Ravuni Uluilakeba said that they were targeting $525 million worth of proposed investments.

Uluilakeba said this year they received 110 investment proposals valued at $700.44 million compared to 97 proposals last year and from this, 103 proposals have been registered but not implemented and valued at $308.4 million.

Uluilakeba said that from January to September they have registered a total of 103 investment proposals with 2,171 new jobs created which has surpassed half of the target.

Investment Fiji is targeting to create at least 4,000 new jobs in the country before the end of next month which will come from tourism, real estate and manufacturing.

Local investments are also expected to rake in millions into the economy and create new jobs.

In particular the $30 million Damodar City Complex which opens mid next year is expected to create 400 new jobs.

The $70 million re development of the iconic Grand Pacific Hotel is also expected to be complete by the third quarter of 2013.

The new $3 million shopping complex in Carreras Road in Votualevu, Nadi has also resulted in 50 new jobs.

Story by: Filipe Naikaso

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