Fiji and Pacific Economies

Trade Agreement Strengthens Fiji's Ties with Australia

2011-12-27T23:24:00.000+13:00

The Fijian government has welcomed the extension of a trade agreement with Australia, saying it will boost its textile, clothing and footwear industry.

Australia's Labor government has approved an extension of the South Pacific Regional Trade and Economic Cooperation Agreement (SPARTECA) with Fiji despite remaining "deeply concerned about the human rights situation in Fiji."

The deal allows certain textile, clothing and footwear products which are predominantly Fijian-made to be allowed into Australia duty free under SPARTECA.

Australia's Acting Trade Minister Martin Ferguson said in a statement the decision to extend the agreement was consistent with its position of continuing support for the people of Fiji.
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ADB Pacific Monitor Report caution Fiji to brace for impact in 2012

2011-12-14T23:52:00.002+13:00

Posted on Raw Fiji News - 14 December 2011

The Pacific Economic Monitor provides an update of recent developments in the region and explores topical policy issues. The ADB publication uses data from Australia, New Zealand, US, and Asia to supplement data from the region and to provide up-to-date assessments and better understanding of the Pacific Island economies.

Fiji

Recent developments

The Government revised its 2011 growth forecast from 2.7% in April to 2.1% in November. This was higher than the 2011 budget forecast of 1.3% and ADB‘s estimate of 1.5%. The recovery in 2011, which followed 2 years of contraction, was driven largely by a post-cyclone rebound in agriculture (mainly taro, pawpaw, and sugarcane production), manufacturing, and increased tourism.

The medium-term outlook is less encouraging. Slower growth in major economic partners is expected to affect exports and tourism, exacerbating structural weaknesses in the domestic economy. ADB‘s growth projection for 2012 is 0.7%, which is closer to the average growth rate over the past 6 years. New construction activity and capital purchases linked to mining investments could boost growth. For example, investment to date for the Namosi Copper Mine has been equal to about 2.2% of GDP, or $86.2 million of a planned total of $1.1 billion. However, this has largely been spent on exploration and feasibility studies, and much of the capital is expected to be imported, so it is unclear how much impact the investment will have on growth in Fiji.

The current account deficit is expected to remain at around 10% of GDP in 2011, driven by the country‘s persistent trade deficit. This is forecast to moderate slightly in 2012 although a rise in consumer spending could lead to more imports and worsen the trade balance. Foreign reserves remain at comfortable levels in 2011, at around $880 million and are sufficient to cover about 5.1 months of imports.

Key issues

 The Fiji government‘s stronger fiscal consolidation bodes well for debt reduction, but achieving long-term reductions in the country‘s debt burden rests upon the achievement of revenue and growth targets.

 In 2011, the government increased the balance of its offshore sinking fund by 9.0% (to $37.2 million) in order to ensure it is well placed to repay the international bond issue of $250 million maturing in March 2016. However, there is a risk that these funds may be used to finance current expenditure, particularly if revenue targets are not achieved.

 The 2012 Budget aims to stimulate economic activity through tax cuts to boost spending, but this objective will not be met if consumer and business confidence does not improve due to lingering political and policy uncertainties.

 Structural reforms are critical to improve growth prospects. A recent ADB assessment of private sector development in Fiji identified the following strategies for improvement: creating a stable policy environment, minimizing the role of the state in the economy, and streamlining business regulatory processes.

Standard and Poor’s

There is a special article from Standard and Poor’s embeded within the ADB Report on the sovereign credit rating of Fiji in light of prospects of weaker global growth and financial market volatility in 2012.

S&P warns that despite the lifting of Fiji’s credit quality to B from a B- on August 5 2011 due to a revision in its own methodology and Fiji’s improved external position, Fiji’s reliance on Tourism to spur growth quite apart from domestic inflationary pressures would undermine its credit quality in the new year. Fiji issued a US$250m bond in March to replace the US$150m issue that matured in September.

S&P noted that its “ratings also reflect Fiji‘s challenging political and policy environment, diminished institutional transparency and independence, and decrees that weigh on civilian and media freedoms. Standard & Poor’s expects these to weaken prospects for investment and for donor re-engagement, and thus the nation’s growth prospects.”

The full text of the ADB Pacific Monitor dated 14 December 2011 can be downloaded here.

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Survey Reveals Sick Fiji Economy & Getting Worse

2011-09-30T20:19:00.001+13:00

by Sai Lealea

Sugar Industry - destined to collapse

A recent survey has revealed what we all know to be the case - A sick Fiji economy and it is getting worse by the minute the longer the current illegal regime stays in power.

Authored by a group of economists at the University of the South Pacific, the report confirmed the bleak prospects for economic growth as a result of the political situation in Fiji and made worse by external global economic realities. The dire situation facing the sugar industry is there for all to see with the current regime's attempt at revitalisation destined to fail. As well, dilapidated infrastructure will stifle long term investment opportunities in tourism and other key areas.

In the other words, Fiji's situation has been made extremely difficult by the draconian policies of the current illegal regime, including restrictions on media freedom and human rights.

Again as everyone have noted, the solution identified by the report is a return to democratic government to ensure political and economic stability. This in turn would ensure effective and well-constructed policies that promote economic growth.

The Concluding Remarks of the Report are as follows:

The short-medium term prospects for Fiji on both the political and economic fronts look less than promising. On the economic front, GDP growth rates have not increased despite the numerous promises. While poor growth between 2007 and 2009 can be explained partly by the impact of the global economic crisis, natural disasters and some inherent weaknesses, the continued forecasts of low growth between 2010-2013 reflects the continuing state of poor investment caused by lack of confidence in the country. The imminent collapse of the sugar industry should be a serious concern and it appears that the current government’s game plan may not work. The sugar industry has a long-history of networks which may have sounded political but it is those networks that allowed farmers to keep the interest in the industry. The destruction of some of the historic institutions of the farmers may not augur well for the industry. The current media censorship and lack of dialogue with the stakeholders is likely to be harmful to the industry which is already on the brink of collapse.

While the prospects for better outcomes from the tourism looks realistic, the government’s tight fiscal position may provide very little room for any serious investment undertaking to improve the infrastructure needed urgently in Fiji.
The short-medium term prospects for Fiji on both the political and economic fronts look less than promising. On the economic front, GDP growth rates have not increased despite the numerous promises. While poor growth between 2007 and 2009 can be explained partly by the impact of the global economic crisis, natural disasters and some inherent weaknesses, the continued forecasts of low growth between 2010-2013 reflects the continuing state of poor investment caused by lack of confidence in the country. The imminent collapse of the sugar industry should be a serious concern and it appears that the current government’s game plan may not work. The sugar industry has a long-history of networks which may have sounded political but it is those networks that allowed farmers to keep the interest in the industry. The destruction of some of the historic institutions of the farmers may not augur well for the industry. The current media censorship and lack of dialogue with the stakeholders is likely to be harmful to the industry which is already on the brink of collapse.

While the prospects for better outcomes from the tourism looks realistic, the government’s tight fiscal position may provide very little room for any serious investment undertaking to improve the infrastructure needed urgently in Fiji.
The answer to Fiji’s serious economic problems may incidentally lie in a political settlement. The link between good economic growth, democracy, media freedom and rule of law cannot be underestimated. There is no substitute for well-constructed policy when it comes to economic growth and development. Previous governments in the last three decades have made similar mistakes about growth policies. There have been very limited successes to count particularly towards long run economic growth prospects and at this point in Fiji’s history any bandaid approach will not do any good. Firm commitments and definite steps are needed to build that confidence that has been lost. The much demanded open dialogue must start immediately and the media freedom be established by relaxing the emergency law and the current censorship of the media.

The government has a good opportunity now to open up dialogue with the political parties, external partners and organisations such as the UN and the Commonwealth to move Fiji towards a Constitutional democracy, good economic growth and development.

CLICK HERE FOR A COPY OF THE REPORT

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Fiji Economy in Doldrums Since 2006 Coup

2011-08-01T01:16:00.001+12:00

by Sai Lealea

01 August 2011

Despite attempts to hide the real picture of the Fiji economy by the current interim regime, it is clear it is in the doldrums!

Using every indicator there are, Fiji's economy is in dire straits and unless political stability and long term solutions to its current political situation are implemented, the downward trend will continue and with disastrous consequences.

IMF data in the presentation below, provides proof of this sad and diabolical situation for Fiji. To make it worse, reforms carried out by the current regime are having the opposite effect to that intended as:

the sugar industry is reeling under lack of investments in infrastructure and low productivity as farmers leave the industry for more profitable sectors.
tourism earnings, once the rising star for Fiji, remain patchy despite ongoing discounts and attempts at new and non-traditional markets.
government debt level continues to soar as unproductive sectors of government such as the military, soak up expenditure.
productivity and economic growth therefore will remain stunted and will be made worse if workers and their unions are subjected to punitive restrictions from planned draconian degrees by the regime.

Poverty level will rise as prices increase on basic items. Job numbers has not been able to keep pace with demand from a growing population of new entrants into the labour market. To placate the population it is more than likely that further borrowings will have to be made through various channels as has become the norm via Chinese loans.

No wonder there has been a concerted effort to open up Fiji's natural resources for use through mining, forestry and other forms of mineral and sea bed extraction. While resource owners have been enticed with dollars flashing past their eyes in quick exchange for their consent, the lack of proper investigation and due diligence for environmental impact is bound to have long term and costly impact on both owners and their resources. Worse still, the doubtful nature and lack of confidence in the court system to oversee and enforce just resolutions over resulting disputes and conflict will further disadvantage resource owners when matched against corporations and conglomerates.

Ongoing political instability and uncertainty can only favour fly-by-night investors keen only on extracting maximum return at minimal cost and least time. These are investors with one eye on their bottom line and the other firmly counting down to the the return to democratic rule at which time they would be existing Fiji to enjoy their ill-gotten gains. It is no surprise there has been widespread reports of kickbacks to key regime figures as these investors seek to unblock bureaucratic log jams holding up their operations on the ground in Fiji. Then again one cannot blame them if such tactics have become the modus operandi to doing business deals under a restrictive environment. Sadly though it is the Fiji economy and its people who lose out in the end from such cavalier attitude and wanton greed on the part of some.

Click here for presentation on Fiji's worsening economic situation since Coup 2006.

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ANZ's New System to Ease up Money Transfer

2011-07-29T16:04:00.000+12:00

Fiji Live News - 27 July 2011

New methods of sending money from Australia to Fiji are expected to make sending remittances home much easier.

ANZ Pacific CEO Michael Rowland said a new system of transferring money, the Pacific Money Transfer Card would be introduced in October.

He said the new system would allow customers ease of access to money being sent from Australia.

“This two-card solution is an effective option to reduce the costs of remittances because the system allows a person in Australia to upload funds to the card for immediate access for a small one off cost,” said Rowland.

“The nominated person in the Pacific can access the money as soon as the money is uploaded via our ATM network and through EFTPOS.”

He said the card would allow people in Australia to make regular small payments instead of sending lump sums of money.

He also said the system would be introduced first to Tonga, Samoa, Fiji and PNG as residents there received the highest volume of remittances.

The Pacific Money Transfer Card will be introduced across the Pacific in 2012.

Rowland said the overall cost for sending and receiving money through the new systems would go down from 20 per cent to around 6 percent.

Meanwhile, Australia's parliamentary secretary to the Treasurer, David Bradbury, this week told Pacific Forum Economic Ministers meeting in Apia that major companies involved in transferring cash, Western Union, Moneygram and the ANZ, are reducing their fees.

By Tevita Vuibau

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2011 will be Challenging for Fiji says Central Bank Chair

2011-07-29T16:00:00.000+12:00

Fiji Live News - July 2011

Fiji’s Governor and Chairman of the Reserve Bank Board, Mr. Barry Whiteside says developments abroad as well as the success of its reform programs will influence the country’s performance in 2011.

And given the downside risks including high crude oil and food prices, unemployment in advanced countries and possible overheating in emerging economies which could dampen global growth prospects, Whiteside said, “Early indications show that 2011 will be another challenging year for Fiji.”

In its 2010 Annual Report which was tabled by the Prime Minister and Minister for Finance, Commodore Josaia Voreqe Bainimarama in Cabinet on July 19, showed that economic growth of 0.6 percent in 2010 was broad-based.

Whiteside said the 2.7 percent growth anticipated for 2011 is expected to be driven largely by the turnaround in the agriculture and forestry, manufacturing and fishing sectors.

A statement issued by RBF said, “The twin objectives of monetary policy remained intact in 2010. Foreign reserves reached a new historical high of $1,307.4 million in November 2010 before falling slightly to $1,302.7 million by year-end, adequate to cover 4.1 months of goods and non-factor services. Inflation rose from 6.8 percent at the end of 2009 and peaked at 10.5 percent in April last year, before moderating to 5.0 percent at the end of 2010.”

Despite these outcomes, the Governor cautioned that monetary policy formulation has become increasingly challenging as the Reserve Bank attempts to balance the risks imposed by high commodity and food prices on local prices with the need to grow the domestic economy.

The 2010 Annual Report also highlighted the Reserve Bank’s focus on its wider role of developing the economy, with the creation of the Import Substitution and Export Finance facility to support domestic agricultural production and the establishment of a National Financial Inclusion Taskforce to promote greater financial inclusion in Fiji.

Initiatives to develop small and medium enterprises, in partnership with private and public stakeholders, also continued via microfinance expositions during the year. The Reserve Bank also drove the implementation of the e-Money Fiji project and oversaw the establishment of Local Advisory Boards of commercial banks.

Governor Whiteside noted that despite the macroeconomic challenges, Fiji’s financial system remains strong and continues to grow. Total assets of the financial system (excluding the RBF) rose by 1.9 percent to $10.5 billion in 2010.

The Report also noted that the Reserve Bank transferred $38.9 million to Government. This comprised its entire profit of $21.5 million for the financial year ended 2010 and one fifth of the balance of the Revaluation Reserve Account of $17.4 million.

Governor Whiteside said monetary policy would be continuously assessed with the view to revive the economy as well as maintaining macroeconomic stability.

“Domestic reforms that are now being implemented need to continue their momentum. We need the cooperation and support of Government, financial institutions, relevant stakeholders and all citizens in order to achieve better growth for Fiji and a higher standard of living.”

By Lavenia Vuadreu

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If All Goes Well, First Fiji Sugar Export in August: FSC

2011-07-08T16:07:00.000+12:00

Fiji Live News - 07 July 2011

The Fiji Sugar Corporation (FSC) is expecting to make its first export of 29 thousand tonnes of sugar in August.

Speaking to FijiLive, FSC executive chairman Abdul Khan said the FSC was looking to make the export in early to mid August.

He said the export would go to Tate and Lyle’s sugar refinery in London where it would be refined before being distributed.

Khan also said the FSC was confident of meeting its export target of 190,000 to 200,000 tonnes of sugar this year.

Meanwhile he revealed the Rakiraki, Ba and Lautoka mills had so far crushed over 125,000 tonnes of cane.

By Tevita Vuibau

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Investors Withhold $574million due to uncertainty by Dictator Bainimarama’s regime

2011-06-22T22:42:00.007+12:00

Posted on Raw Fiji News - 22 June 2011

ANZ Pacific CEO Michael Rowland

THE Pacific must be investment-friendly if it wants growth in investments and sustainable ventures, says ANZ Pacific chief executive officer Michael Rowland.

Speaking at the Australian Islands Business Council Conference at the Radisson Resort yesterday, Mr Rowland said investors would not bring their money and institutions like ANZ wouldn’t support foreign customers investing unless the environment was supportive.

Mr Rowland’s comments come as Fiji grapples with an excess liquidity of over $0.5 billion as well as revelations that the investment gap last year was $574 million. Of the $591m proposed projects, only $17m was implemented.

He said a supportive business environment included consistent and transparent legal and social systems and processes, certainty around government policy particularly taxation and profit remittance.

“Provided there are clear and consistent policies in place, we believe the opportunity to grow services trade in the Pacific lies in financial services, tourism, back office processing, telecommunications and labour hire,” Mr Rowland said.

“For countries that achieve this regulatory environment, we believe the value of services and international trade of services will grow and financial services will become an increasingly important international business.”

Reserve Bank of Fiji Governor Barry Whiteside recently said investment levels in Fiji were well below the 25 per cent target.

While there was still large investment interest in Fiji, Mr Whiteside said we needed to nurture this to implementation. He said we must grow the economy, speed up structural reforms, create an environment conducive to investment, maintain law and order and continue to promote a sound financial system.

http://www.fijitimes.com/story.aspx?id=172963

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FNPF lying about current members subsidizing pensioners : past FNPF board member James Raman

Picture – Fiji Democracy Now @ http://fdnblog.wordpress.com

The FNPF debate

James Raman

Tuesday, June 21, 2011

LIKE all other pensioners whose sole income to sustain our livelihood is FNPF pension, I have been having sleepless nights ever since the announcement was made of the drastic reduction of our pension rate from next month – July 1.

In my case if the reduction is as proposed I will suffer a loss of 64 per cent of my present pension.

This kind of drastic cut will no doubt have a traumatic effect on us oldies, both physically and psychologically, forcing many to seek counselling for survival.

Notwithstanding the effect of the announced reduction as stated above and despite the finger of blame being pointed at the previous board and management, I chose not to enter into the discussions and remained a silent observer. No doubt there are many other pensioners like me.

However the following statement made by Aisake Taito – CEO of FNPF as reported by Margaret Wise in last Saturday’s Fiji Times (11/6) has stretched the facts a bit too far and must not be allowed to go unchallenged.

He said: ” … all these problems arising from the notion in 1975 when the Pension Scheme was established that lifetime pension would be for four years only. The expectation was that the member would die by then. The reality is many have lived longer and outlived the amount they had put into the fund”.

It seems preposterous to even imagine that the then board gave only four years for the then pensioners to live making a life span of only 59 years when official data showed a much higher life expectancy. I make this ‘bold’ statement because I was a Member of the Board in 1975 when the decision to introduce the Pension Scheme was made.

The reality is that right from the start of the pension scheme it was assumed that the sustainability of the scheme would require the establishment of a Buffer Fund.

At the same time as the introduction of the pension scheme, a Buffer Fund was established to which all members of the Fund contributed 2 per cent. This contribution was automatically deducted from the members’ contributions as they are posted into their accounts each month.

The contribution to the Buffer Fund continued till 1999 which means all members who joined before that year, made contributions to the Buffer Fund continuously for nearly 25 years. It must also be pointed out that all members, particularly those who took lump-sum and which comprised the vast majority, forfeited their contribution to the Buffer Fund as all monies collected was kept in the General Reserve to ensure the continued sustainability of the pension scheme.

In Mr Taito’s presentation he says that the pensioners’ total contribution toward the pension fund was $289million and the total payout was $423million as at June 30, 2010. He further goes on to say that the shortfall was paid by current members.

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What the members need to be told is why wasn’t the Buffer Fund, collected since 1975, added to the $289million. If the Buffer Fund and its earnings were added, the total amount available for pension payment would have been much higher than the payout of $423million, resulting in a surplus. Why is the General Reserve being downplayed? After all the funds in the General Reserve belongs to the pensioners as well.

The amount in the General Reserve currently stands at around $700million, which would have been around $1billion if the write-down of over $300million was not taken out of there. The General Reserve is healthy and will continue to be so as in 2010 a surplus was recorded which was transferred to the General Reserve.

The continued long-term (after 35 years) sustainability can be assured by ensuring that the General Reserve remains healthy and there is more ways of doing this other than taking the current pensioners’ money and putting it into the General Reserve, as the present management seems bent on doing.

Here is another statement made by Mr. Taito that is not entirely correct – ” .. it was recognised way back in 1992 that the fund was not viable and yet past leaders, management and board did not take the necessary steps to fix it”.

Action was taken by the then board and management which resulted in the reduction of the Pension Annuity from 25 per cent to 15 per cent. The only significant difference between then and now is that the then board chose to consult directly with stakeholders, i.e. employers, employees and Government representatives to find a solution which would recognise and uphold the primary objective for which the FNPF was established, that is, to provide financial security to workers in the old age at the same time addressing the dangers of continued viability pointed out by the consultants in their report.

After extensive and exhaustive consultations with the stakeholders and after studying the consultants’ report and giving it the fullest consideration the board arrived at the decision to reduce the annuity from 25 per cent to 15 per cent but not all at once as the board wanted to ensure that the pension option remains attractive to the members as it was a concern of the board at that time that the number of members opting for pension was very low.

I must point out and members should be reminded that the FNPF originally started as a Compulsory Saving Scheme only with members withdrawing their entire balance upon reaching 55 years of age. Such a scheme fell outside the ambit of being Social Security Scheme. It was upon the constant’s insistence of the International Social Security Association (ISSA) – an arm of the International Labour Organisation (ILO) to which the FNPF is affiliated that the board decided to introduce the Pension Scheme.

Introducing the Pension Scheme gave the FNPF some semblance of being a Social Security Organisation thus gaining greater respectability with ISSA.

While addressing the sustainability of the Fund in the long term in the manner detailed above the then board also decided that another actuarial study be made in ten years to monitor the impact of the action taken to address the sustainability concerns raised in the 1992 Report. This further study was done in 2002 and there should be a report with the FNPF. I have not seen any reference made to this 2002 Report.

From memory this report also expressed concerns about the long term sustainability and recommended another study in five years, i.e. 2007.

What is significant and most relevant to the undergoing discussions is the fact that no report that I can recall made any recommendation (or even suggestion) that the pensions of the existing pensioners be adjusted in any way. I stand to be corrected. However, if what I say is not correct I will greatly appreciate if what was or is the recommendation in the reports regarding payments to existing pensioners be revealed to the members.

What I want to finally say is that during my time the board at all times made sure that whatever decisions taken were in compliance with our obligations as trustees and in accordance with the laws. Hence, I was satisfied that the manner in which the concerns highlighted in the Acturial Report was addressed was compatible with what was expected of me as a trustee. Furthermore, the question of the annuity paid to existing pensioners did not arise as it was a non-issue since pensions were paid under a legally binding contract entered between the FNPF and the pensioner. To do otherwise would have been illegal. The present board should take note of this.

Whatever I have alluded to in this statement are a reflection based on my recollection of how the board that I was a part of addressed the issues currently under discussion. Further, whatever was brought to the board and its deliberations would have been properly documented and minuted. This should be available to the present board and management

In case the continuous finger-pointing at the previous board members by present FNPF management has managed to convince some current members, it must be pointed out that from its inception in 1966 up to December 2006, all board members who were appointed represented the principle stakeholders of FNPF, i.e. employers, employees and Government. And this was in compliance with the FNPF Act. All individuals so appointed representing the three stakeholders were leaders of their respective sectors with established credentials and capabilities.

It is therefore grossly unfair to discredit them today as if they did not know what they were doing. After all, one has to acknowledge that it was under their leadership and guidance that the FNPF grew to what it is today. I am sure there are other previous board members still around and perhaps they might want to break their silence as well, including Mr Lionel Yee, the previous long serving general manager.

* James Raman is a former long-serving member on the FNPF board. Mr Raman was a FNPF board member from 1971 to December 2006, with only one year break in 2000. He served the board in his capacity as the national secretary of Fiji Trades Union Congress and the general secretary of National Union of Factory & Commercial Workers as a representative of the workers of Fiji.

http://www.fijitimes.com/story.aspx?id=172960

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Inflation at 5.5 percent in 2010

2011-01-14T14:03:00.000+13:00

Timoci Vula

Fiji Times - Tuesday, January 11, 2011

FIJI's inflation rate for the 12 months to December last year was recorded at 5.5 per cent, the Fiji Islands Bureau of Statistics (FIBS) revealed in its report.

The report said the all item consumer price index (CPI) for December 2010 registered an increase of 1.6 per cent over November from 129.0 to 131.1.

In the Bureau's report released on December 31, Government statistician Timoci Bainimarama said prices of food, alcoholic drinks and tobacco among other sectors contributed to those sectional changes.

Mr Bainimarama said the food price increase by 3.5 per cent attributed to higher prices recorded for wheat products, fresh and preserved meat, preserved fruit, fruit juice, mineral water, yaqona, dairy products, fats and oils, tea, milo, cocoa, spices, confectionery and market items such as French and long bean, English and Chinese cabbage, long green chillie, local tomato, cucumber, taro leaves, bele, tubua, onion, potatoes and garlic.

He said prices of alcoholic drinks and tobacco registered a 2.5 per cent increase.

"A higher price (1.0 per cent) was recorded for house paint. Higher prices were (also) recorded for household kerosene (0.5 per cent)," Mr Bainimarama said.

The Bureau's report also revealed that prices of durable household goods recorded an increase attributed to higher prices (0.2 per cent) recorded for electrical appliances, crockery and jewellery.

Mr Bainimarama said the transport sector recorded a 0.7 per cent price increase because of the higher prices recorded for petrol, diesel and spare parts.

Higher prices (0.1 per cent) were (also) recorded for medical goods, toiletries, laundry goods and other household items."

Lower prices were recorded for men's wear, and men's and women's footwear.

Pacer Plus deepens integration

2010-12-11T13:58:00.000+13:00

Fiji Sun News - 11 December 2010
Pacer Plus recognises the importance of deepening regional trade integration, it was claimed in Nadi yesterday.

Vanuatu-based chief trade adviser Dr Chris Noon, on giving an update on Pacer Plus consultations and negotiations, said the Forum Trade Ministers meeting in June 2009 recommended to leaders that PACER Plus negotiations should commence.

“Legal and practical questions follow from the exclusion of Fiji from PACER Plus negotiations,” Dr Noon said.
PACER Plus is the most important economic agreement the Forum Island Countries will negotiate this decade.

He was speaking during the Second Pacific Island Business Forum held at the Sofitel Resort and Spa, in Nadi yesterday.
It is affirmed that PACER Plus provides the Pacific region with a significant opportunity to develop a truly innovative trade and economic agreement that takes account of the different stages of development of each nation.

He stressed the importance of progressing PACER Plus as a means to underpin the economic security of the region through capacity-building and market-liberalisation

“National studies and consultations that are underway show that the level of preparedness varies among Forum Island Countries,” he said.

The first PACER Plus negotiation meeting in April this year was based on general discussions of priority issues.
He said Forum Trade Ministers Meeting in April:

Week-long Party for 400 Aussie Schoolies

2010-11-30T10:05:00.002+13:00

by Felix Chaudhary

Tuesday, November 30, 2010

CLOSE to 400 schoolies arrived from Australia on Sunday and headed straight for Plantation Island Resort on Malololailai Island ù undeterred by the threat of a cyclone.

Waiting for their ride at Denarau Marina, the squally weather conditions did nothing to dampen their spirits. They are here to party and are detemined to have a raging good time come rain, hail or storm.

"This is an adventure, we don't care it's raining or if a cyclone comes, we're just glad to be here and are looking forward to getting on the island and having some fun," was the common mantra.

Schoolies is an annual event where graduating Australian high school students spend up to a week having supervised fun together.

Plantation Island Resort general manager Daven Sharma said his staff had been preparing for the week-long event for a while and extra security had been arranged to ensure the safety and security of all the students.

"The resort is locked down for the coming week- they literally have the whole resort to themselves. While they are accompanied by chaperones, we have also brought additional security on the island to ensure they have a great and safe holiday," he said.

The group leaves this weekend as another 400 will descend onto Plantation for their partying.

"We are ready for them," Mr Sharma said.

Fiji's Ecosystem Worth $973m

2010-11-27T12:32:00.000+13:00

by Monika Singh

FIJI TIMES - Saturday, November 27, 2010

FIJI's ecosystem was worth $973million in 1994, contributing about 42 per cent of the 1994 Gross Domestic Product of $2312m.

This figure could have increased over the years according to the Department of Environment national co-ordinator for the National Biodiversity Strategic Action Plan, Rahul Chand

Mr Chand made a presentation on the valuationof Fiji's natural assets for the action plan at the Eco Health Forum on Thursday.

He said it was easy to make people realise the importance of the ecosystem with an economic value placed on the ecosystem.

"We should realise that all ecosystems are at a threat of pollution and we must do our part to protect it," he said.

He said action plan was put together to look at implementation strategies to protect biodiversity.

He said Fiji signed up to protect its biodiversity at the Earth Summit in 1992 but it was not implemented.

According to Mr Chand Fiji signed Article 6 at the Earth Summit which required countries to develop national strategies and action plan for biodiversity.

He said some of the major natural eco-systems included the open sea, coral reefs and the mangroves and fresh water ecosystem.

Mr Chand said people did not realise the importance of ecosystem because there was no monetary value attached to it.

He said they undertook a survey of the natural ecosystem in 1994 and came up with the monetary value of the ecosystem for the purpose of the action plan.

"The department does not have the latest statistics on the monetary value of the ecosystem but we are sure it has increased from what we had recorded in 1994," he said.

Fiji Me Experience - Taste of Fiji

2010-11-03T12:50:00.002+13:00

‘Fiji Me’ – The Fiji Experience

Fiji, blessed with 333 magnificent islands, some inhabited, most not. We are a land where there is still room to move. Set in the tropical South Pacific, Fiji is surely the essence of a tropical island paradise. White sandy beaches, swaying coconut trees, pristine oceans and waterways and a range of things to do and see that will appeal to the most discerning traveler.

But we are so much more than that.

Revel in our 5-star resorts, stroll on our glimmering white beaches hand-in-hand at sunset, snorkel, dive, surf or kayak our pristine oceans, whitewater raft our clear and clean waterways, cruise the ocean around our mainland and outer islands, trek our rainforests, backpack the outer islands, visit our welcoming villages and experience sustainable living or immerse yourself in our unique culture and history.

And then there’s our most precious asset - smiling, generous, relaxed Fijians who greet you and everyone they meet with our famous and welcoming ‘Bula’.

Allow us to ‘Pamper’ you. Relax by the pool with a G & T and swap holiday stories with your fellow guests, or ‘shop till you drop’ in a wide variety of outlets catering for all budgets. Indulge in a massage that soothes the soul and rejuvenates the body before fine wining and dining. Then it’s another difficult decision - retire after a hard day or hit one of our night spots to dance the night away. It’s your experience, your choice.

Fiji is ‘Romance’. Allow us to make your wedding and honeymoon a memorable experience. With everything taken care of by professionals all you have to do is be there. Fiji has a wedding setting just for you - on the beach, in a rainforest, in a garden of orchids, in a village, on a mountain or in a traditional chapel. All unique in stunning settings creating treasured memories for a lifetime.

Fiji is ‘Sustainable’ eco-tourism. Stay in one of our many eco-resorts, lodges, backpackers or a village homestay. Trek, swim or birdwatch in our National Parks and Reserves. Observe our ladies creating mats, masi (tapa) hats, fans and baskets from natural materials. See pottery made the traditional way or attend a talanoa session (storytelling) about history, legends and traditional local medicines. A visit to Fiji is not complete without a traditional kava session and our mekes (traditional song and dance), are a cultural feast.

Like your Fiji ‘Experience’ a little racier? Trek mountain trails culminating in a swim under a waterfall. Visit caves and listen to traditional stories of great chiefs and tribal wars. Backpack our outer islands or step it up a notch and white water raft our pristine rivers or surf our world famous waves.

Get your adrenalin pumping and let the only hot air balloon flight in the South Pacific take your breath away at the stunning views over Fiji. Get adventurous with parasailing and the hugely popular jet ski safari’s. Or jump on a fast jet boat ride and hold on while it sets you into 360-degree spins. Awesome!

So you like to ‘Cruise’! Our islands are a cruising enthusiast’s wonderland. Whether you’re a yachtie or a cruise liner passenger, this is a great way to taste everything that is Fiji. We have great marinas and if you’re on one of those magnificent luxury cruisers, be our guest and step ashore for a while to get to know us and our lifestyle.

We have ‘Diving’ experiences extraordinaire. Shore dive, night dive, resort dive, wreck dive or cave dive. Do it yourself or go with the professionals at luxury resorts, eco-friendly outlets, backpackers or fabulous liveaboards.

Fiji is renowned as “The Soft Coral Capital of the World” and is also home to the “Great Astrolabe Reef”. Feel the goose-bumps as you experience shark feeding or dive the light fantastic and swim with the giant mantas. Our moderate water temperature makes for year-round diving and the visibility is a photographers dream. With over 4000 square miles of coral reef, Fiji offers divers unparalleled marine biodiversity.

Fiji is a Mecca for all dreamers, adventurers, fun seekers, lovers, divers, backpackers, families, naturalists and anyone else who is looking for their very own tropical experience of a lifetime. In Fiji we have something for everyone.

Do it all or nothing at all. Live your Fiji experience –don’t just imagine it.

FijiMe Tourism Website Calculated

2010-11-03T12:36:00.002+13:00

Fiji Tourism authorities rely a great deal on online promotion and campaigns as marketing tools. Its premium website www.fijime.com serves this purpose. Out of interest, below is an analysis of the reach and effectiveness of the site as calculated by websiteoutlook.com

fijime.com Overview

fijime.com has 349156 traffic rank in world by alexa. fijime.com is getting 3150 pageviews per day and making USD 11.9 daily. fijime.com has 3366 backlinks according to yahoo and currently not listed in Dmoz directory. fijime.com is hosted in United States at Abacus America data center. fijime.com is most populer in UNITED STATES. Estimeted worth of fijime.com is USD 8687 according to websiteoutlook.

Estimated Data

Title	Fiji Islands Travel Guide \| Tourism Fiji \| Home
Description	Fiji Islands Tourism official web site: Fiji Islands travel information including Fiji vacation, Fiji tourism, Fiji maps, Fiji accommodations, Fiji resorts and Fiji activities.
Daily Pageview	3150
Daily Ads Revenue	$11.9

Index Data

Traffic Rank	349156
PageRank	6
Backlinks	3366
Dmoz Categories	Currently Not Listed in Dmoz

Traffic Data

Time Range	Traffic Rank	Reach Rank	Reach PerMillion	PageViews Rank	PageViews PerMillion	PageViews PerUser
fijime.com Traffic History
3 Months	349156	354150	4.2	415768	0.13	3.1
1 Months	318260	327559	4.7	377657	0.15	3.2
7 Days	417142	393511	4	593937	0.09	2.2

Server Information

Hosting ISP : Abacus America
Server Ip : 69.64.73.85

Server Location : San Diego, California, 92121, United StatesLatitude: 32.9014015198
Longitude: -117.207901001

Country	%User	Rank
UNITED STATES	24.1%	242830
FIJI	20.7%	70
AUSTRALIA	7.5%	54072
NEW ZEALAND	3.5%	15797
OTHER	44.3%

NEW BENCHMARK FOR JULY VISITOR ARRIVALS

2010-11-03T11:42:00.000+13:00

The Fiji Tourism Newsletter for October again highlighted the growing number of tourists visiting Fiji. It again reports an increase from past years for the same period and there appears to be great confidence that new records will be set. No doubt Fiji's favourable exchange rate and attractive holiday packages at discount prices are contributing to these surge in numbers.

As well, aggressive and concerted promotion campaigns, and partnerships in key markets as well as new ones have also contributed.

There appears to be optimism that this trend will continue well into the future. See below the stories from the Newsletter.

FIJI SETS NEW BENCHMARK FOR JULY VISITOR ARRIVALS

Maintaining what is shaping up to be Fiji tourism’s best ever year for international visitation, the destination has set a new four-year record for visitor arrivals for a month of July.

Figures released by Fiji’s Bureau of Statistics show the destination welcomed more than 66,500 visitors across the month, the result eclipsing the best ever July record set in 2006 – 59,645 - by more than 11 per cent.

The strong performance takes Fiji’s total visitor arrivals for the seven month period January to July to 339,056.

This in itself represents a 19 per cent increase over the 283,560 total achieved in 2009.

The 29,436 Australian total recorded for the month represented a 19 per cent increase on the 24,729 figure achieved for the same period in 2009.

New Zealand visitor intake again showed positive growth with a total of 13,949 Kiwis visiting across the month, that figure representing a 5.8 per cent growth over the 13,181 achieved for the same month in 2009.

US figures increased by five per cent while Canadian visitor arrivals showed positive growth for the first time this year with numbers increasing by five per cent.

Tourism Fiji CEO Josefa Tuamoto again pointed to the national tourist office and industry partners’ ongoing efforts to build Fiji’s profile in key emerging markets.

These, he said, were evidently paying off given visitor arrivals from China achieved a massive 149 per cent increase.

Taiwan business too grew by 45 per cent while visitor arrivals from India climbed by 15 per cent.

Traffic from the UK/Europe, he said, remained steady and stayed positive with a 0.7 per cent increase in traffic.

Mr Tuamoto said the destination was bracing itself for a very strong result from the region in August, the traditional holiday and travel month for much of the northern hemisphere.

For further information, please contact Tourism Fiji’s Manager Fiji, Ms Fane Vave at fvave@tourismfiji.com.fj or Marketing Officer, Mr Iowane Naivalurua at inaivalurua@tourismfiji.com.fj

TOURISM FIJI APPOINTS GLOBAL DESTINATIONS AS INDIAN REPRESENTATIVE

Tourism Fiji has announced the appointment of Global Destinations as its representative in India.

Announcing the move, Tourism Fiji CEO Josefa Tuamoto said a main focus for company would be to promote ‘Destination Fiji’ within India, this assisting in helping to grow the leisure and MICE segment.

Global Destinations, he said, will also play a key role in helping to promote the Fiji Matai specialist program and support the travel trade via workshops and advertising campaigns.

With more than 25 years experience Global Destinations is high profile within the Indian travel trade and is seen to provide a good fit for the national tourist office’s aspirations in this important emerging market.

For further information, please contact Tourism Fiji’s Marketing Services Manager, Ms Adeline Lee-Erasito atalee@tourismfiji.com.fj or Marketing Officer, Mr. Kiniviliame Raicebe at kraicebe@tourismfiji.com.fj

TOURISM FIJI ENGAGES FIJI INDUSTRY WITH WEDDING WORKSHOP

Part of an ongoing program to promote the benefits of the international wedding and honeymoon market to local partners Tourism Fiji recently organised a consultation workshop at the Novotel Nadi.

Key guests at the event were from the Registrar General’s office and Foreign Affairs who were on hand to assist the national tourist office with the workshop.

Officially opening the event, Tourism Fiji CEO Josefa Tuamoto said the wedding/honeymoon market now represented one of the biggest sources of visitor arrivals for Fiji and it was critical that all components of the industry were working from the same page in order to fully benefit from this lucrative market source.

The main thrust of the program was both to ensure the local industry is working collectively in capturing this key market segment while at the same time ensuring everyone is fully aware of the actual wedding requirement and its processes within Fiji.

The workshop also served as an opportunity for the wedding industry to put in place a framework to identify and streamline the marriage documentation process while developing stronger working relationships with officials and industry counterparts.

For further information, please contact Tourism Fiji’s Marketing Officer, Ms Inise Mucunabitu atimucunabitu@tourismfiji.com.fj

TOURISM FIJI ‘MILKS’ SOUTH KOREAN MARKET POTENTIAL

In what represents one of its biggest ever Fiji tourism marketing initiatives in the South Korean market to date, millions of South Koreans are now being exposed to the ‘Fiji message’ via a high profile promotional campaign.

The initiative is all part of a collaboration between the national tourist office and South Korea’s biggest dairy product company, Naming Milk & Beverage, which together have combined in a ‘Fiji fresh Expedition’ promotion to send a group of seven lucky winners – plus a national TV film crew – to sample the delights of a Fiji travel experience.

While in Fiji the group of seven winners took part in a host of activities all of which were designed to showcase Fiji’s ability to deliver a true and exciting holiday experience to every type of traveler – irrespective of taste or budget – with everything the group did captured by the two-man SBS (Korea) film crew.

These activities included a visit to Viseisei Village, the Sabeto mud pools and the Garden of the Sleeping Giant, a Jetboat experience with Adrenalin Fiji, a mini dive course with Aqua Trek Mana at Mana Island Resort, island sightseeing with Demar Charters, a swim/snorkel exploration of Monuriki Island, an MV ‘Sea Spray’ cruise, a shark dive with Aqua Trek Beqa and Zipline Fiji.

Other included a visit to the Arts Village Pacific Harbour to sample Fiji’s unique living culture first hand and a Naihehe Cave Tour at Sautabu village.

The promotion has also been featured across 120 South Korean media outlets including the popular Chosun, Dong-A, Joong-Ang, Women JoongAng and Women Chosun.

For further information, please contact Tourism Fiji’s Marketing Services Manager, Ms Adeline Lee-Erasito atalee@tourismfiji.com.fj or Marketing Officer, Ms Tupou Moe’ofo at tmoeofo@tourismfiji.com.fj

FIJI TOURISM TEAM ATTENDS THREE KEY GUAM TRAVEL EVENTS

Tourism Fiji in conjunction with Continental Airlines and local industry partners have driven the Fiji message home at three key travel events taking place in Guam this month.

Tourism Fiji CEO Josefa Tuamoto said the decision to send the team to Guam was fully justified by the potential Continental Airlines’ services to Nadi via Guam offer to Fiji tourism.

This potential, he said, stemmed from both the huge number of resident US Army and Navy personnel resident there as well as in the key US and Japanese markets which the airline services via its Guam and Hawaii connections.

The national tourist office was joined in the exercise by Captain Cook Cruises and the Radisson Fiji Resort Denarau Island at the three events.

These included the 4th ‘Around the World at a Glance’ Travel Fair which is aimed squarely at the hundred thousands of US Navy personnel and their families.

This event was followed by the ‘2010 Annual Andersen Travel Fair’ which targets the large numbers of resident US Army personnel.

The Fiji tourism team also waved the Fiji flag at the ‘Guam Micronesian Island Fair’ Adding a musical element to the visit, the team was joined by Fiji’s internationally-renowned guitarist and singer Jale Mareau who has taken time out from his busy schedule to help spread the Fiji message and entertain the large crowds expected to attend all three events.

Mr Tuamoto said it was very important for Fiji to be as visible as possible at all three events given the evidence that visitor arrivals from both the US and Japanese markets had seen improvement since the commencement of Continental Airlines’ direct services.

For further information, please contact Tourism Fiji’s Marketing Services Manager, Ms Adeline Lee-Erasito atalee@tourismfiji.com.fj

EUROPE FIJI ‘BULA BUS’

Turning plenty of heads and making a colourful impression on central European freeways, Tourism Fiji and industry partners jumped aboard a brightly decorated ‘Bula Bus’ complete with Fijian chef and serenaders this month to spread the ‘Bula’ spirit across Germany and the Czech Republic.

Blitzing Munich, Erfurt, Dresden, Berlin and the Czech capital Prague over a three-day period, Tourism Fiji was joined on board the bus by several of its Fiji-based industry colleagues.

These include Air Pacific, South Sea Cruises, Musket Cove Resort & Spa, Mana Island Resort & Spa, Sonaisali Island Resort, Blue Lagoon Cruises and Captain Cook Cruises.

The main thrust of the exercise was to develop new relationships with key travel sellers in both countries while at the same time updating the local industry on the huge number of progressive changes the destination has made in the last year.

The ‘Bula Bus’ tour also gave the opportunity for local travel agents to sample the latest developments on Fiji’s ever-changing food scene.

This was thanks to live cooking demonstrations provided by the on-board chef who cooked for guests while they were serenaded by Fijian musicians and singers.

The ‘Bula Bus’ tour also provided Tourism Fiji with an opportunity to recruit new Fiji Matai specialist agents as part of a Matai Academy running from 24-26 September in Berlin, Germany.

Tourism Fiji CEO Josefa Tuamoto said the ‘Bula Bus’ tour was particularly timely given the recent increase in traffic from Europe which once again is beginning to show growth – up 2.46 per cent to 42,694 for the period January to July 2010.

Attributing this increase to the region’s slow but steady recovery from the Global financial crisis, Mr Tuamoto said the result was indicative of the impact Tourism Fiji’s marketing strategy is having across Europe in conjunction with ongoing strong support from its industry colleagues.

For further information, please contact Tourism Fiji’s Senior Marketing Officer, Mr Thomas Valentine attvalentine@tourismfiji.com.fj

OUR PACIFIC’S LESLEY SEIULI EARNS TF MATAI INCENTIVE PRIZE

Making 27 Fiji bookings for 59 clients across September has earned Our Pacific’s Lesley Seiuli a $100 Westfield shopping voucher from Tourism Fiji and the opportunity to win a seven-night Fiji holiday.

The voucher and Fiji holiday prize are part of the national tourist office’s ongoing Fiji Matai specialist agents' sales incentive which concludes at the end of October.

The winner of the grand prize - return airfares for two ex-Auckland, two nights at Musket Cove Island Resort & Marina Fiji, two nights at the Sheraton Fiji Resort & three nights at the Outrigger on the Lagoon - will be announced during the first week of November

For further information, please contact Tourism Fiji New Zealand Information Officer, Mr Esava Nadalo at info@tourismfijinz.com

TOURISM FIJI OZ AMAZING ADVENTURE TRADE DAY

Tourism Fiji Australia in cooperation with Air Pacific and its Australian wholesaler partners is staging a ‘Mega Educational’ for over 90 industry staffers in Fiji from 18 – 26 November 2010.

The aim of the event is to further build destination awareness among the Australian retail, trade and media.

Giving local partners the opportunity to become involved in the event, a key component of the overall exercise will be a trade day scheduled for 23 November when local industry representatives will have an opportunity to meet with the visiting agents.

For further information, please contact Tourism Fiji’s Senior Marketing Officer, Mr Thomas Valentine attvalentine@tourismfiji.com.fj

AON FIJI EXCELLENCE AWARDS

The 14th annual AON Fiji Excellence in Tourism Awards will take place on 25 February 2011 at the Warwick Fiji Resort & Spa.

More than 350 industry representatives and their guests are expected to attend the event, features of which will be a three-course dinner and live entertainment.

The 2011 event will feature two new awards – ‘Wine Waiter of the Year’ and ‘Barista of the Year’ – competition for which will take place at the Naviti Resort on 26 and 27 February 2011.

For further information, please contact Tourism Fiji’s Marketing Officer and Aon Fiji Excellence Tourism Awards Secretariat, Ms Kelly Eastgate at keastgate@tourismfiji.com.fj

TOURISM FIJI’S UPCOMING EVENTS:

Event	Dates	Contacts
New Zealand Matai Family	13 – 21 November 2010	Marketing Officer – Ms Kelly Eastgatekeastgate@tourismfiji.com.fj
Australia Mega Famil 2010	18 – 26 November 2010	Marketing Officer, Mr Iowane Naivalurua inaivalurua@tourismfiji.com.fj
USA Matai Family	30th November – 7th December 2010	Regional Marketing Officer, Ms Sera Cawanibuka Sera@TourismFijiUS.com
World Travel Mart	08 – 11 November 2010	Marketing Officer – Ms Kelly Eastgatekeastgate@tourismfiji.com.fj
Sydney Adventure Travel & Backpacker Expo	06 – 07 November 2010	Marketing officer – Ms Kesaia Marau kmarau@tourismfiji.com.fj
China International Travel Mart (CITM)	18 – 21 November 2010	Marketing Officer – Mr Kiniviliame Raicebe kraicebe@tourismfiji.com.fj
Industry Day	09th December	Vasemaca Driso - vrakabu@tourismfiji.com.fj

THANKING YOU KINDLY - SHANGRI-LA ‘S THE FIJIAN TO STAR IN TOP RATING AUSTRALIAN TV SHOW

Shangri-La’s The Fijian Resort and Spa will form a spectacular backdrop for one of Australia’s highest rating national TV shows, ‘Random Acts of Kindness’, when it goes to air nationally on 14 November.

The program centers on a well deserving couple being rewarded for their good deeds to others, in the community by being given the opportunity to get married in a tropical luxury paradise - Fiji.

Tourism Fiji Regional Director Australia Paresh Pant said the program provided a huge opportunity to showcase the expertise of Fiji’s renowned resort wedding capability.

“The kindness factor too fits in extremely well with the nature of the Fijian people who are renowned the world over for their kindness and generosity,” he said.

Launched in 2009 the program is an ongoing hit and regularly attracts an Australian audience in excess of 1.4 million.

For further information, please contact Tourism Fiji’s Regional Director Australia, Mr Paresh Pant atppant@tourismfijioz.com

TAVEUNI PALMS LIFTS INTERNATIONAL TRAVEL INDUSTRY ‘OSCAR’ IN DELHI

Fiji’s Taveuni Palms Resort has been named as Australasia’s leading boutique resort at the prestigious World Travel Awards 2010 in Delhi, the event known as the ‘Oscars’ of world travel.

The award represents massive recognition for the resort with more than 185,000 industry professionals participating in the 2010 voting process which polled airlines, tourism associations, cruise lines, hotels and resorts located in 166 countries across seven continents.

The event also represented a benchmark occasion for Vatulele Island Resort which was named as Fiji’s leading resort for the second time since 2007.

The title for Fiji’s leading spa resort went to Namale Resort & Spa while the Intercontinental Golf Resort & Spa was recognised as Fiji’s leading golf resort.

Established 17 years ago, the World Travel Awards are committed to raising the standards of customer service and overall business performance throughout the international travel and hospitality industry.

The awards have been described as the ‘Oscars’ of travel by the renowned Wall Street Journal.

Winners of the Australasia regional ceremony will now go on to compete in the World Travel Awards 2010 Grand Final in London which takes place immediately before the World Travel Market kicks off on Sunday, 07 November.

For further information, contact the following persons:

Taveuni Palms – Managing Director, Ms Kelly Acland at taveunipalms@connect.com.fj
Namale Resort & Spa – Director of Sales & Marketing, Mr Hudson Mitchell at MitchellH@namaleresort.com
Intercontinental Fiji Golf Resort & Spa - Natadola Bay Championship Golf Course, General Manager, Mr David Roche at droche@avidsports.com.au or Intercontinental Fiji Golf Resort & Spa, Director of Sales & Marketing, Ms Heather Cornish at heather.cornish@interconti.com
Vatulele Island Resort – Office Reservations Manager, Ms Lusiana Sinclair at resm@vatulele.com

TOURISM HOLDINGS SELLS FIJI ASSETS

Tourism Holdings has agreed to sell its transport and tourism businesses in Fiji to local interests.

The company’s Tourist Transport (Fiji) Ltd and Feejee Experience units are to be merged with a local company called Coral Sun (Fiji) Ltd, creating the island nation’s largest tourist transportation operator, it said in a statement.

Tourism Holdings’ 2009 annual report said the Fiji businesses were operating in a "difficult" environment after recent political issues and the January 2009 flood recovery."

However, according to senior management, following a resurgence in business, Tourism Holdings had achieved a solid 2009-2010 in local currency terms with 2010-2011 on track for further gains.

The sale is expected to settle at the end of the month with shares of Tourism Holdings holding unchanged at 80 cents.

SOFITEL FIJI RESORT & SPA SPONSOR INAUGURAL JUNIOR ART CHALLENGE AND AUCTION

Sofitel Fiji Resort & Spa recently staged an inaugural art auction and cocktail event as part of its sponsorship of the Sofitel Junior Art Challenge in aid of the ‘Cure Kids Fiji’ children’s charity.

Nine primary and secondary schools were selected from the Nadi district to participate in the event, the results of which were showcased alongside CreatiVITI’s main exhibition as part of the ‘Art on the island V’ festival held at the Denarau island resort.

A flagship cultural event, the ‘Art on the island V’ festival involves over thirty professional and emerging artists from around Fiji and this year featured a junior section featuring mural paintings by school children complementing a colourful display of over one hundred original works of art by CreatiVITI artists.

CreatiVITI is a membership-based organisation representing artists from across Fiji and home to Fiji's only pottery production studio, with showroom, mini-gallery and a crafts garden hosting demonstrations and classes.

The organisation specialises in custom ceramic commissions and promoting local artists paintings, pottery, drawings, sculpture, handicrafts, pottery classes CreatiVITI also runs kids craft activities, seasonal craft markets in addition to its annual art competition.

Visit www.sofitelfiji.com.fj

SONAISALI BEEFS UP DINING OPPORTUNITIES

Sonaisali Island Resort has introduced a new dining outlet – The Poolside Grill.

Located on the white sandy area next to the ever popular Pool Bar, the Poolside Grill offers guests an alternate dining venue for lunch and dinner on a daily basis.

Managing Director, Aaron McGrath said the Poolside Grill offered the resort’s guests a more ‘al fresco’ and casual environment than its three other restaurants.

For further information, please contact Sonaisali’s Sales & Marketing Manager, Ms Karyn Blenkiron at sales@sonaisali.com

TOKORIKI ISLAND RESORT FIRES UP HOTSPOTS

While TV’s, clocks and telephones are nowhere to be found in Tokoriki Island Resort’s room and bures, the resort now boasts a Wi-Fi hotspot for those who need to keep in touch with the outside world.

The hotspots are located in the guest lounge, bar and pool area.

For further information, please contact Tokoriki Island Resort’s Director of Marketing, Ms Marina Musumeci atmarketing@tokoriki.com

NEW DIVE OPERATOR

Safari Island Lodge has announced the opening of its new dive operation - Nananu-I-Ra Island RAKIRAKI.

Targeting Bligh Waters + Vatu-I-Ra Passage as its main areas, the operation can cater for up to 24 Divers with 80 Tanks available on two dive boats.

For further information, please contact Mr Warren Francis at warren@safarilodge.com.fj

CAPTAIN COOK CRUISES LAUNCH NEW FIJI COCKTAIL CRUISE

Captain Cook Cruises is offering a new Fiji Twilight Cocktail Cruise program departing from Denarau on board its luxurious catamaran ‘Fiji One’.

For further information, please contact Captain Cook Cruises atnadi@captaincookcruises.com

VATULELE ISLAND RESORT LIFTS TRAVEL INDUSTRY ‘OSCAR’

For the second time in three years Vatulele Island Resort has been named Fiji’s leading resort at the 2010 World Travel Awards.

This is the second time the resort has lifted the prize having been named Fiji’s number one resort in 2007.

More than 185,000 industry professionals participated In the 2010 voting process which involved hotels and resorts located in 166 countries across seven continents.

For further information, please contact World Resorts of Distinction at admin@wrd.com.au or visit www.vatulele.com

2010 ANZ SPONSORED NADI INTERNATIONAL AIRPORT STAKEHOLDERS VOLLEYBALL TOURNAMENT

The 2010 Nadi International Airport Stakeholders Volleyball Tournament will take place on Friday, 05 November at Nadi’s AFL grounds.

More than 120 teams are expected to participate in the event which this year will be based on a ‘Sharing the Bula Spirit’ theme.

Established in 2004 to foster relationships and goodwill among the many organisations working at the airport, this year’s event is again being sponsored by ANZ and will feature three events – men’s, women’s and mixed teams.

For further information, please contact NIAS President Mr Joe Gray at joeg@afl.com.fj

FIJI TO HOST 2011 NOMURA CUP

Fiji will host the 2011 Asia Pacific Golf Confederation (APGC) team championship, The Nomura Cup, from 16-19 August 2011, in the process becoming the first South Pacific island nation to stage the prestigious event.

A total of 14 countries including Australia, Bangladesh, Cook Islands, Guam, Hong Kong, India, Japan, Korea, Malaysia, New Zealand, Papua New Guinea, Taiwan and Thailand will contest the trophy next year.

Venues for the event will be Denarau Island and the Vijay Singh-0designed Natadola Bay Championship Golf Course marking the first time the event has been played across different links in its 48-year history.

Announcing its decision to stage the event in Fiji, the world governing body of Golf, Royal & Ancient of Scotland (R&A) said the development of Natadola Bay and the Denarau golf courses and the increased interest in golf in the destination had been a catalyst for the decision to stage the event in Fiji.

LIKULIKU COOKS UP A STORM WITH AUSTRALIAN CELEBRITY CHEF

Guests staying at Likuliku Lagoon Resort were recently treated to a culinary surprise when Australian celebrity chef Peter Gilmore visited the resort to host a special weekend of dinners and master classes.

Gilmore is the owner of high profile Sydney restaurant Quay which is listed in the number 27 spot on the San Pellegrino ‘World’s best 50 best restaurants’ list.

While at Likuliku Gilmore and his team used the freshest of local ingredients including freshly caught tuna provided by local fishermen just two hours before guests were due to sit down to dinner.

The resort has a strong connection to the Australian master chef, one of Gilmore’s former Sydney-based staff Chloe Kryskow now working at Likuliku.

For more information visit www.likulikulagoon.com

HOT FOOTING IT ON BOUNTY ISLAND

Bounty Island has launched a ticket-to-the-past cultural experience featuring the Mamanuca Island group’s first firewalking display.

The resort’s new cultural program - offered every Wednesday and Saturday - showcases the Firewalkers of Beqa, legendary for their ability to walk on white hot stones. Visitors also experience natural herbal medicines, indigenous dance, wood carving and traditional weaving as part of the cultural experience.

Much of the cultural experience is provided by Bounty Island’s Nakelo landowners, the direct descendants of the first Fijians.

The program is open to guests from all island resorts and all hotels on the mainland, as well as cruise ship passengers who often have limited free time to experience the local Fijian culture.

More information visit www.fiji-bounty.com

PRIME MINISTER’S EXPORTER AWARDS

An annual event organised by the Fiji Islands Trade and Investment Bureau (FTIB) to acknowledge and salute the achievements of Fiji ‘s exporters in the global trade arena and their contribution to the local economy, the Prime Minister’s ‘Exporter of the Year‘ Awards and gala dinner will be held at the Sofitel Fiji Resort & Spa on Saturday, 20 November 2010.

For further information, please contact the FTIB or visit www.ftib.org.fj

Snorkelling in Fiji – Make it part of your Holiday in Fiji experience

2010-10-23T14:08:00.000+13:00

Snorkelling is a million dollar business where tourists can enjoy the best Fiji has to offer by way of marine and beach life that is among the very best in the world.

The description and pictures below is typical of the promotion of this wonderful tourism sector by Fiji tourist operators. But one thing is not in dispute, the pristine waters of Fiji offer one of the best snorkelling places. TRY IT AND YOU WILL NEVER WANT TO LEAVE!

With its warm clear waters, amazing coral reefs and a diverse array of marine life, snorkeling in Fiji s simply the best. Home to three different kinds of reefs found here (barrier reefs, fringing reefs and atolls) Fiji is often referred to as the ‘Soft Coral Capital of the World.’ The underwater visibility here is superb at over 30 meters, with May through October being the best time to go snorkelling.

In Fiji there is no such thing as a best location to snorkel in. Each dive site in Fiji has something special or unique that makes snorkelling here a simply awesome experience. The reefs in Fiji are teeming with a wide variety of incredible sea creatures, offering divers much to see and enjoy. Another great reason for going snorkelling in Fiji is the fact that much of Fiji’s reef system is well preserved and unadulterated, add to this the rich marine biodiversity, and snorkelling here is incredible. There are over 400 species of coral found in the waters around Fiji and with an abundance of brightly colored tropical fish, you have an underwater world like no other.

On the main island of Viti Levu, some of the best snorkeling sites are found along the Coral Coast between Nadi and Suva.

The Pacific Harbour is also a wonderful place to go snorkeling in. Here you can go snorkeling and diving in an extinct volcano crater known as the Beqa Lagoon. Natadola Beach and Nananu-i-Ra are also wonderful snorkeling destinations.

On the outer islands, Mamanuca and Yasawa have some outstanding places to snorkel in, while in the Lomaiviti Group, Caqelai and Leleuvia are well known dive sites. On Vanua Levu some good snorkeling can be found near Mumu’s Resort, and on Taveuni, the Vuna Reef is the place to head for Kadavu Islands also have a number of great locations to go snorkeling in such as the Astrolabe, Solo, Tavuki and Namalata reefs.

When snorkeling in Fiji, do wear a T-Shirt and use plenty of sunscreen. If you don’t have your snorkeling gear with you, you can always hire some from the many local dive shops, or from the resort or hotel you are staying at. However, do check your mask, snorkel and fins before you rent them. For first time snorkelers asking for a life jacket is a good idea. If you are the adventurous type, you can also opt for snorkeling at night, but be sure to use a reputable dive operator.

There a number of diver operators on Fiji that offer plenty of diving and snorkeling packages for you to choose from, so do ask around before you choose a package. While snorkeling you may also encounter reef sharks, so it is important not to panic. Another thing to keep in mind is not to touch any of the marine life, as some of the most beautiful fish and coral can also be poisonous.

Fiji Out of Favour with Kiwi Travellers

2010-10-21T15:33:00.001+13:00

Posted on Stuff.co.nz - 21 October 2010

New Zealanders are taking far more overseas trips than a year ago, mainly to Australia, but Fiji is dropping off the holiday radar.

The number of foreign tourists coming to New Zealand is up only slightly.

New Zealand residents took 210,000 overseas trips in September up 9 per cent from the same month last year Statistics New Zealand said.

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New Zealand residents took more trips to Australia, China, the United States, Samoa, and the United Kingdom, but fewer to Fiji.

"Resident departures reached a new high for a September month, surpassing the previous high of 208,500, which was recorded in September 2007 before the global economic downturn," acting Population Statistics manager Kimberly Cullen said.

Visitor arrivals numbered 174,200 in September 2010, up 1 per cent from September 2009, the highest number of visitors ever recorded for a September month.

The main increases were from Korea (up 1200), China, and Australia (each up 1100).

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Visitors from the United Kingdom (8,600) continued to decrease in September 2010, down 2000 from September 2009. This is the lowest number of visitor arrivals from the United Kingdom for a September month since 2000 (8100).

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Land use is the primary source of generating income for most villages in Fiji. While this is often the case for those close to urban areas where there is a market for their produce, those in outlying islands like in my village, often rely on other means such as fishing.

But since land is the most readily available resource for villages, its use for agriculture has proven critical for the lives of Fijians. In fact having a productive and large crop is often the mark of a well off man in a village in the same manner as a herdsman with a large flock in places such as Africa.

The opportunity to generate cash returns from crops has provided villages in Fiji the ability to better themselves and provide opportunities for their families as well meet their varied village obligations such as the provincial levy. The article below is one such story.

by Theresa Ralogaivau

FIJI VISITOR ARRIVALS BREAK NEW JUNE RECORD

2010-09-28T14:30:00.001+13:00

Posted on Tourism Fiji - 27 September 2010

For the third month running Fiji's international tourist arrival numbers have broken new ground with figures released by the Fiji Bureau of Statistics this week showing the destination set a new record in June hosting just under 56,000 visitors.

The 55,995 figure achieved for the month easily surpasses the previous highest ever visitor arrival figure - and four-year record - set in June 2006 when Fiji welcomed 52,795 international arrivals

The June 2010 figure brings total arrivals for the year to 272,520 – bang on course for the national tourist office’s target of 600,000. That figure in itself sets a new benchmark for Fiji and in the process eclipses the previous record set for a January-June period in 2008 – a total of 270, 856 - by an additional 1664 visitor arrivals.

An exuberant Tourism Fiji CEO Josefa Tuamoto (picture above right) drew attention to the ongoing strong performance being achieved in Australia which once again smashed all previous visitor figures for a month of June.

Numbers for the period reached a huge 27,651 arrivals - a massive 48.3 per cent increase over the corresponding period in 2009. Mr Tuamoto also pointed towards the positive inroads being achieved in the New Zealand and US markets, both of which had registered substantial gains over the six month period with visitor arrival growth increasing exponentially by 16.4 and 9.1 per cent, respectively.

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Mr Tuamoto said he was particularly gratified with the national tourist office’s ongoing efforts in several key emerging markets, and in particular China and India which have seen both countries emerge this year as respective eighth and ninth most important sources of visitor arrivals. Visitor arrivals from China increased by 31.3 per cent to reach 7684 for the six month period.

Indian visitor arrivals also climbed impressively reaching 1437, an increase of 28.6 per cent. Mr Tuamoto said traffic from the UK/Europe had also increased by 3 per cent.

"We are still bang on course for the 600,000 'best ever visitor' target we set ourselves last year.” Fiji's best ever international visitor figure remains the 582, 602 benchmark set for the 12 month period January – December 2008.

For further information, contact Tourism Fiji’s Manager Fiji, Ms Fane Vave at fvave@tourismfiji.com.fj or Marketing Officer, Mr. Iowane Naivalurua at inaivalurua@tourismfiji.com.fj

Fiji lacks internet reach

2010-09-20T08:28:00.000+12:00

Mary Rauto

FIJI TIMES - Monday, September 20, 2010

FIJI'S Internet penetration rate is only 10 per cent compared

to smaller countries like Niue, Tokelau and Tuvalu.

Commerce Commission chairman Dr Mahendra Reddy said while information and communication technology can have a profound impact on the economic growth and development of a country, ICT development in Fiji did not fare well when compared with our neighbours.

"In terms of Internet penetration, Fiji has a rate of 10.9 per cent as at 30 September 2009," he said.

"However, Australia and New Zealand have 80.1 per cent and 79.7 per cent respectively."

Dr Reddy said the Cook Islands had 42 per cent, French Polynesia 31.4 per cent, Guam 47.6 per cent, Micronesia 14.9 per cent, New Caledonia 37.4 per cent, Niue 62 per cent, Palau 26 per cent, Tokelau 58 per cent and Tuvalu at 34 per cent.

"This is quite worrying stats," he said. "Especially when for international communications, Fiji is directly linked to the Southern Cross Cable Network, a third generation submarine fibre optic cable system with direct links to Australia, New Zealand and the US West Coast via Hawaii."

Declining FNPF contribution a concern

2010-07-21T12:50:00.001+12:00

Posted on Matavuvale.com -By Rachna Lal - July 21, 2010

A Fiji academic says member contributions to the country’s only superannuation; the Fiji National Provident Fund (FNPF) peaked in 2006 but then started reducing from there on.

Dr Rohit Kishore, a senior lecturer at the University of the South Pacific’s School of Accounting and Finance, speaking at the Fiji Economy Update 2010 said this is mainly due to mass migration.

“The other major issue is people are taking out their benefits more than contributions being made which will finally have an impact on our social security,” he stressed.

He highlighted the withdrawal in 2009 was $75.43 million compared to $57.9 in 2008.

Kishore attributed most of the withdrawals to migration, partial withdrawals and people taking money out upon retirement.

“People should be mindful that these money is o provide cushion when people get old and if they keep taking little money out for small difficulties, then they will find it more difficult in the future.”

He acknowledged FNPF tightening the withdrawal policy which will automatically deter people from withdrawing from this superannuation fund.

Kishore is hopeful future investments by the FNPF will be based on careful decision and the end result will see members receiving maximum interest from FNPF.

Comments posted on Matavuvale.com

the major contributing factor of decline in fnpf contribution is the rising number of unemployment.
Why should people be paying into a pool of money that is being used to suppress them? Those who conribute into it should be allowed to withdraw it when they leave the country. But I know that this is not the case anymore, I have family members who are not allowed to take out their contribution even though they have moved abroad.
Massive withdrawals, unemployment, mass migration, partial withdrawals, failed projects and worst still the regimes loans have really killed the bull. Once upon a time this was the pride of the nation. Not anymore.
It's a white elephant.
1.
a.A rare, expensive possession that is a financial burden to maintain.
b.Something of dubious or limited value.
2.An article, ornament, or household utensil no longer wanted by its owner.
3.An endeavor or venture that proves to be a conspicuous failure.

Moving Fiji out of the doldrums

2010-07-13T22:41:00.000+12:00

Fiji Sun News - 13 July 2010

Association of Banks in Fiji chairman, Rakesh Sharma, shares his views to the Fiji Sun about the June issue of the Reserve Bank of Fiji’s Economic Review.

SUNBIZ: How does the global economic recovery and the International Monetary Fund forecasts affect Fiji and the ordinary people?

MR SHARMA: Let’s take Fiji. In the present global scenario, no economy can stay isolated from the global events more so from the negative impacts. It has been quite significantly demonstrated in East Asian Crisis in 90s, in Sub Prime Debacle and in more recent Sovereign crises of Greece and other European countries.
If these crises have negative shocks, the recoveries are surely going to have the much needed positive impact globally.
Fiji’s economy is characteristically very much dominated by the events happening in its major trading partners. Moreover, it is largely depending upon these partners for growth of major industries/sectors.
For instance, increase in tourist arrival of more than 22per cent in the first four months of current year in the direct effect of global recovery.
This can be attributed to the recovery in major trading economies.
Tourism being major foreign exchange earner, increase in tourist’s arrival will result in growth in other sector also.
It will result in increase in capacity utilization of tourism related sectors, increase in VAT and payee collections, growth in GDP, of which tourism sector in a prominent contributor and increase in foreign exchange.
Recovery in economies of trading partner will encourage buying from Fiji the products like fish, timber, gold, mineral water and consequently increase export earnings.
Indirect impact of global recovery can be observed in increase inward remittances also. We can therefore, expect a positive impact on Fiji in medium and long run, provided the recovery in major trading partners is consistent and sustained.
For the ordinary people; it’s an increase in employment in tourism and other sectors.
Resulting in increase in wages, purchasing power and consumption, which is the most positive contributors to the economic development. However, such impact may not prominently be visible in the short run.

SUNBIZ: The commercial banks lending for investment purposes rose. What are the benefits of this on Fiji’s economy?

MR SHARMA: Increased investment is a welcome feature and an important indicator of progress in economy.
It signifies increase in business and investor’s confidence. The positive growth in tourism has encouraged investment in real estate for increasing room inventory, building tourist resorts and development of lots for sale to foreigners.

Investment in infrastructure and manufacturing units (plant and machinery) is a very welcome feature as it is a prerequisite to any economic development.
These activities again result in employment generation, increased income, purchasing power and consumption.

SUNBIZ: How does inflation affect consumers?

MR SHARMA: Inflation is a phenomenon, which is prominently visible in almost all the economies in the world.
External stimuli employed to combat the global crises had direct bearing on rising inflation. However, in a developing economy inflation can never be neutralised but it can be at the most controlled.

Price rise is a welcome phenomenon, signifying economic development, unless the rise is hyper or galloping. Rise in prices is always a burden on people and consumers. In the current environment the people have no choice but to live with it.

SUNBIZ: Your comment on Fiji’s foreign reserves Fiji?

MR SHARMA: Foreign Reserves of Fiji constitute;
A) Foreign investments
B) Inward remittances
C) Special Drawing Rights

Special Drawing Rights (SDRs) are costless assets that increase a nation’s foreign exchange reserves without the need for an actual transfer of funds. Allocated to nations by the International Monetary Fund (IMF), a SDR represents a claim to foreign currencies for which it may be exchanged)
Overview of Economic Review is summarised as follows:
World Economy- Global economy is recovering and it is forecast to recover at 4.2per cent for the current year. Developing economies are expected to grow at a higher rate than the developed economies.

Fiji Economy- Fiji’s economy is improving. The economic performance of Fiji’s major trading partners has improved. Positive outlook for Fiji may be reinforced on the basis of following indicators:

1. In April, Tourists arrival increased by 22.7per cent.
2. VAT collection (April 2010) showed increase of 9.5per cent.
3. Commercial Banks lending for investment rose by 4.5per cent. Lending for consumption rose by 3.9per cent.
4. Inward remittance rose by 32.5per cent.
5. Inflation declined to 9.4per cent in May 2010 from 10.5per cent in April 2010.
6. Domestic export earning rose by 74.4per cent in Jan 2010 as compared to (-) 41.8per cent in 2009.
7. Foreign reserves position improved with 3.5 months of import.
8. Banks’ liquidity level is higher. Reserve Bank Fiji has increased SRD rate to suck extra liquidity to curb inflation.

However, uncertainty looms large over the growth of economy in the current year as is evident from the frequent change in growth forecast and other estimates.
In the most recent news, doubts are expressed on New Zealand’s economic recovery.
In this volatile situation, we need to keep our fingers crossed and hope no further global or natural crisis hits Fiji and the world.(Note: Mr Sharma would like to clarify that views expressed in this interview are solely his and not of Bank of Baroda or any other organisation).

State looks at possible Post Fiji options

2010-07-06T14:58:00.000+12:00

Story by: Rachna Lal

Fiji Live News - July 04, 2010

The Fiji government is currently looking at a possible public-private partnership in regards to Post Fiji.

The Prime Minister Commodore Voreqe Bainimarama confirmed this at the 2010 budget announcement on Friday.

“Government is currently assessing proposals on public-private collaboration regarding the management of Post Fiji,” he said.

Bainimarama added the Government Printing is expected to be made available on the market within this year.

The PM also established that initial works on the re-organisation of the Fiji Electricity Authority (FEA) has already begun.

“The restructure of the electricity tariff rates have commenced which will buffer the poor but concomitantly reflect market prices and incentivize independent power producers (IPPs),” he said.

He said IPP’s generally use renewable energy to supply the national grid.

“This has an added advantage as it reduces our dependency on fossil fuel and is better for the environment,” Bainimarama said.

He also said the Fiji Meteorological Services Department has also been identified for reorganization with an assessment in train to determine the best option forward.

ATH 2010 Profit Slumps 53 percent

2010-07-01T22:33:00.000+12:00

July 01, 2010

Fiji’s Amalgamated Telecom Holdings Ltd has announced a group consolidated next after tax profit of $15.4 million for the year ended March 31, 2010, a 53.5 percent drop on the $33.1 million profit the previous financial year.

Chief executive officer Tomasi Vakatora said the reduced profit was due to a combination of a decline in sales revenue and increase in expenses and the incurrence of “abnormal or one-off items”.

Vakatora said the figure was in line with projections announced on May 19.

Sales revenue declined by 10.4 percent and was attributed to retail price reductions “of which some were taken at the ATH Group’s initiative in response to market conditions and others through various determinations by the Commerce Commission over recent years”.

Other contributing factors were “intensity of competition and consequent loss of some market share and relatively weak trading conditions from the flow on effects of the global financial crisis onto the Fiji economy”.

Vakatora said that despite the reduced profit, ATH directors were proposing a final dividend of 2 cents per share totaling $8.442 million.

The dividend will be submitted for approval at ATH’s annual general meeting on August 19.

The proposed final dividend is in addition to the interim dividend of $12,663,146 paid in March 2010, bringing the total dividend for the year to $21, 015, 524.

The ATH stable includes ATH, Telecom Fiji Ltd, Vodafone Fiji Ltd, Fiji Directories Ltd, Internet Services Fiji Ltd, Transtel Ltd, Exceed Pasifika Ltd, ATH Technology Park Ltd, ATH Call Centre Ltd and Pacific Emerging Technologies Ltd.

Fiji Media Crackdown To Hurt Economy, Foreign Investment

2010-06-30T13:36:00.000+12:00

Fiji Media Crackdown To Hurt Economy, Foreign Investment - Australian Minister

By Neil Sands - JUNE 29, 2010

Of DOW JONES NEWSWIRES

MELBOURNE (Dow Jones) A crackdown on foreign media ownership in Fiji will damage the island state's economy and deter foreign investment, Australian Foreign Minister Stephen Smith said Tuesday.

Smith condemned a Fijian decree imposed this week forcing all media outlets to be 90% locally owned within three months, saying it damaged both free speech and the country's economic prospects.

In comments that drew a sharp rebuke from Fiji's Attorney-General Aiyaz Sayed-Khaiyum, Smith said the foreign ownership cap could deter investment in Fiji.

"That will have very substantial and serious deleterious effects on Fiji's economy and adversely affect the prosperity of their people," Smith told Australian Broadcasting Corp.

He described the action by Fiji Prime Minister Voreqe Bainimarama as regrettable and said his regime "continues to take Fiji backwards."

Since Bainimarama came to power in a bloodless military coup in 2006 he has cracked down on press freedoms, censoring reports and expelling foreign reporters and media executives, as well as suspending the constitution and pushing back the deadline for promised elections to 2014.

Fiji's economy, heavily reliant on sugar exports and tourism, has experienced sluggish growth in recent years due to political tensions and lack of progress implementing economic reforms, according to a report released in December by the International Monetary Fund.

The report predicts a fall in foreign direct investment in Fiji to an estimated US$264 million in 2010 from US$415 million in 2006

Sayed-Khaiyum said Smith's remarks were inaccurate and Bainimarama's government had worked to liberalize the economy to make Fiji more attractive to investors.

"The people who know Fiji, the people who are investors or would-be investors in Fiji, know that the issue of the media is very, very separate to the private sector investment that takes place in other sectors," he told Sky News Australia. "To draw some type of correlation is completely misplaced."

News Corp.'s (NWS) Australian subsidiary News Ltd.(NWS.AU), which says it will have to dispose of its only Fijian newspaper The Fiji Times under the decree, has described the move as a blow to the country's fragile economy.

"This is an outrageous precedent that will make foreign investors in other industries very nervous about their involvement and support there," News Ltd. Chief Executive John Hartigan said in a statement Monday.

News Corp. owns Dow Jones & Co., publisher of this newswire and The Wall Street Journal.

The Fiji Times is the largest newspaper in the country by circulation and has long had a tense relationship with the Bainimarama regime. News Ltd. said Monday that reporters at the newspaper had faced physical intimidation from the military-led regime and two managing directors have been deported in the past two years.

Sayed-Khaiyum said Fiji wanted to ensure its media wasn't run by foreigners who had no interest in the country's future.

"The media organization needs to have a stake within the country itself," he said. "They need to be pro the country, I'm not saying pro-government, but pro the country."

New Zealand Prime Minister John Key said the way Fiji had set about controlling the media was heavy handed.

"We want to see democracy restored in Fiji because we want a full operating economic environment," he told reporters. "When you start banning media and telling organizations to sell their newspapers, to me it sounds like a step too far."

FEA seeks $1billion dollars

2010-06-16T12:53:00.000+12:00

by Elenoa Baselala

Fiji Times - Wednesday, June 16, 2010

THE Fiji Electricity Authority needs more than $1.1billion to "strengthen" its existing transmissions and invest in future transmission networks.

Chief executive Hasmukh Patel said this was essential in order to transport electricity from the new sources of power generation to customers, and to successfully meet the ever-increasing demand for power.

He said last week that a realistic tariff based on the cost of production would enable FEA to do this.

"The power transmission and distribution networks that need to be strengthened or constructed have been identified and preliminary works have commenced," he said.

The power provider needs $375million for its capital expenditure on generation, $210m for the Independent Power Producers (IPP) and $520m for FEA transmission, distribution and retail.

"FEA plans to fund some of these schemes and expects the private sector and independent power producers to fund the remaining mainly power generation projects," Mr Patel said.

The FEA already has government guaranteed debts worth $400m, which was confirmed by Public Enterprises head Aiyaz Sayed-Khaiyum at the Fiji Institute of Accountants Congress last week.

At the same meeting, Reserve Bank of Fiji governor Sada Reddy voiced his concerns on the State's liabilities, particularly in bailing out some of the statutory companies whose debts the State had guaranteed.

In particular, Mr Reddy gave the example of the Housing Authority where close to $40m worth of debts were transferred to equity as the organisation could not service its debts.

Mr Patel said the FEA could not further increase its debt levels to fund the identified projects as existing cash inflow was insufficient to enable funding for these projects.

But if it does not do anything, the possible scenarios would be inability to meet increasing demand of electricity, high fuel bills due to reliance on diesel generation, power rationing and its inability to service its debts could result in the immediate repayment of the loans and exposing the government as the guarantor.

While tariff realignment was approved by the Commerce Commission two weeks ago, Mr Patel recommends a detailed tariff study to establish the realistic tariff levels that would enable the FEA to implement its development program, facilitate the entry of IPPs, ensure long-term financial sustainability and achieve financial returns.