Queensland will host the first ever Fiji-Queensland Trade and Investment Symposium where Fiji’s Prime Minister Josaia Voreqe Bainimarama will lead a high-level delegation of both public and private sector to Brisbane next month. With the theme ‘Building a Resilient Fiji-Queensland Economic Partnership’ the Trade and Investment Symposium on July 20 at the Stamford Hotel will promote two-way business, trade and investment opportunities, targeting the information and communications technology (ICT), mining, and agriculture sectors. Fiji offers attractive incentive packages in these sectors.
For instance in the ICT sector, income tax exemption is available to investors whose business employs 50 employees; and 60% of its total services is exported. In addition, there are existing Tax Free Regions in Fiji that offer tax and duty exemption with a maximum level of investment of $FJD250,000. In the mining sector, current commodity prices like gold ($USD1243.7/oz) have attracted potential mining investors to explore for potential mineral deposits including offshore deep sea minerals, oil and gas.
The geographical and geological setting of Fiji at the edge of the Indo-Australian plate has attracted multinational exploration companies to invest and prospect for potential mineral deposits including silver, manganese, base metals (copper, zinc, bauxite, phosphate), industrial minerals (marble, limestone), and placer materials mineral sands (magnetite, hematite, ilmenite, rutile, zircon, topaz etc).
In the agriculture sector, some of the incentives include for those investors that set up a new activity in commercial agricultural farming and agro-processing approved from now till 31 December 2018 will qualify for tax exemption if capital investment is from $FJD250,000 and above between the range of 5 to 13 consecutive fiscal years. These investors who also import agricultural items will be subject to zero duty.
The key guest speaker at the event is the Chief Executive Officer and Founder of Halfbrick Studios in Australia, Mr Shainiel Deo. Mr Deo has made vast contributions to the Queensland economy including the Australian ICT and gaming sector with his creation of the globally successful mobile gaming app ‘Fruit Ninja’ that has been downloaded more than 1 billion times. Other notable speakers include Fiji’s Minister for Industry, Trade, Tourism, Lands and Mineral Resources, Mr Faiyaz Siddiq Koya; Queenland’s Treasurer and Minister for Trade and Investment, Mr Curtis Pitt; Fiji’s Minister for Agriculture, Mr Inia Seruiratu; the Permanent Secretary for Fiji’s Ministry of Industry, Trade and Tourism, Mr Shaheen Ali; Investment Fiji CEO, Mr Godo Muller-Teut; CEO of ANZ Fiji, Mr Saud Minam; the Managing Director of Pacific Centrecomm, Mr Anthony Cassar; the General Manager of Paradise Beverages (Fiji) Limited, Mr Mike Spencer; and the CEO of Buderim Ginger based in Queensland, Mr Roger Masters. The objective of the Trade meet is to shift perceptions in the Australian market and demonstrate that Fiji has more to offer than just being a unique tourist
The objective of the Trade meet is to shift perceptions in the Australian market and demonstrate that Fiji has more to offer than just being a unique tourist destination, therefore, Australian investors are encouraged to consider Fiji a viable and ideal destination for ICT, mining and agriculture investments. The Symposium is an excellent opportunity to interact with the Hon. Prime Minister, Ministers, senior Fiji government officials and private sector partners from Fiji and Australia and participants are encouraged to visit the following link to register for the event as spaces are limited: http://www.cvent.com/d/75qd7s
The event is organised by the Fijian Government through its Consulate General and Trade Commission in Sydney and the Fijian High Commission in Canberra in partnership with the Australia-Fijian Business Council.