March 27, 2013

Investment Fiji to monitor bogus investors

07:00 Today (March 27, 2013)
Report by: Ritika Pratap

Investment Fiji is looking at ways to track down bogus investors.

It’s been found that some overseas investors aren’t abiding by the conditions that come with their approval.

Investment Fiji Chief Executive Ravuni Uluilakeba says some investors have ventured into other businesses from the one they got approval for.

“What we also working now with the government to ensure that we given the powers to prosecute or even track those that have gone outside of that and hence when that come through that will help us to ensure that for those that have been given approval like for eg for tourism and yet they have gone otherwise outside of that – that is where the penalty will definitely will come in.”

Foreign investors are given twelve months to set-up shop, and Investment Fiji will now monitor on a regular basis.

No comments: