 VISION
|
FTIB shall be a dynamic force in the creation of
economic wealth in Fiji through the promotion, facilitation
and stimulation of investments and exports.
| MISSION
STATEMENT |
FTIB shall actively promote investments and export
of goods and services. It shall provide fast and
friendly service to investors and exporters and
shall provide quality advice to the Government for
increasing investment and export. FTIB aims to stimulate
the development of new and existing industries by
facilitating their establishment and expansion.
| VALUES |
In the performance of our responsibilities we
shall be guided by these values:
· Efficient and friendly customer service
· Team work
· Integrity
· Accountability
· Dedication and commitment
· Promote positive image for Fiji
· Promote high quality products
· Work in partnership with government,
businesses and the community at large
| FTIB -
AN OVERVIEW |
Fiji Islands Trade and Investment Bureau (FTIB)
was formed as a statutory organisation by the
Economic Development Board (EDB) Act. No 11 of
1980 to promote, stimulate and facilitate trade
& investment in Fiji. Though the FTIB is the
investment and trade promotion agency of the Government,
it has an independent, free enterprise board,
which operates along private sector lines.
FTIB Act states that "...shall be the duty
of the Bureau to promote, stimulate and facilitate
trade and investment in Fiji. In the discharge
of its duties the Bureau shall have the power
to:
a) Promote investment in, and development of,
industries, ventures or enterprises that enhance
employment opportunities, increase exports, reduce
imports, or are otherwise beneficial to the economy
of Fiji;
b) Assist other persons or bodies in the establishment
or expansion of any such as activities;
c) Undertake product and market development and
research either alone or jointly with any other
person;
d) Act as the agent for the government on such
matters as may be delegated to it;
e) Advice on policies that would further trade
and investment in Fiji.
f) Advice the Minister on appropriate administrative
machinery to facilitate trade and investment;
g) Make grants for purposes related to the discharge
of its functions under the exercise of its powers
or functions under this act."
In simple terms FTIB carries out activities designed
to:
· Increase and diversify exports; and
· Increase investment
In the recent past FTIB has put significant resources
and effort in improving the image of Fiji as an
investment destination. FTIB, together with other
key agencies have done a lot of rebuild Fiji's
reputation as an agreeable and friendly investment
destination.
| STRATEGIC
ISSUES FOR THE PERIOD 2003 - 2005 |
With exports comprising nearly half of Fiji's
Gross Domestic Product, its economic performances,
especially export growth, is strongly linked to
international conditions, particularly to the
performance of our major trading partners - Australia,
United States of America, European Union, New
Zealand and Japan.
Similarly, because of our reliance on foreign investments,
the domestic investment activity is also dependent
on conditions in our major source markets which
are the same as our major trading partners.
| INVESTMENT
ISSUES |
Investments in the global context is expected
to decline. For Fiji, while investment levels
in absolute terms increased over the years, investment
product has been decreasing since the late 1980s.
There is also great potential for the establishment
of value adding industries based on Fiji's natural
resources such as agricultural, marine and forest
products. The stock of mahogany for example, and
its commercial exploitation is expected to generate
significant investment and export opportunities.
The buoyant tourism industry provides opportunities
for investment of different sizes including decentralizing
the investments to rural areas where the resources
are available readily.
Aligned to these opportunities, a new incentive
package has been developed which is broad based,
transparent and internationally attractive. In
addition, specific incentives package for the
audio visual industries, tourism industry and
the mining industry also exist to stimulate investments
in these specific sectors.
Finally, the 2003 South Pacific Games has enabled
major infrastructure development to take place
and a number of projects are in progress. Also,
the projects to be funded by the European Union
under EDF-8 & 9 will commerce during the plan
period generating significant investments.
EXPORTS ISSUES
Exports has been increasing over the years and
in year 2001 it surpassed $1billion. Nonetheless,
export growth has been affected adversely by factors
such as insufficient production, poor quality
of some of the export products, non tariff barriers
at destination markets, heavy reliance on a few
markets and erosion of preferential access to
certain markets.
The challenge that FTIB faces is to determine
ways in which the export environment could be
favourably influenced. Market access through the
following trade arrangements will change in the
plan period.
SPARTECA
The conditions under which Fiji has been benefiting
from the SPARTECA are changing. While the value
of SPARTECA is eroding as Australia and New Zealand´s
tariffs decline resulting in a decline in the
margin of preference, Fiji exporters will need
to adopt measures to face increasing competition
in these markets by improving efficiency and exploring
niche market opportunities.
Cotonu Agreement
In due course, the price for sugar under the
Sugar Protocol of the Cotonu Agreement will inevitably
move towards the world market price. With the
expected decrease in sugar production, alternative
means of livelihood and employment creation are
going to be considered. This will result in the
creation of new industries and exports.
Trade Agreement with United States of America
Under Generalised system of preference (GSP)
arrangements, Fiji enjoys preferential access
for a range of exports into the United States
of America. In addition the Multifibre Agreement
(MFA) also exists for the export of textile and
clothing products. However, the MFA will expire
in December 2004 which will remove the preferential
condition in terms of quota currently enjoyed
by Fiji. The involvement of the Pacific Islands.
Forum in the negotiations of improved market access
is expected to provide opportunities for Fiji
exporters.
World Trade Organisation
The development of this multilateral trading
system forces exporters of Fiji to be highly competitive
since the tariff levels are being lowered and
thus competition become stiffer. Fiji being a
signatory country to the WTO also has certain
obligations and thus Fiji's duty rates are also
expected to be lowered. In addition to the above,
the establishment of the Pacific Island Countries
Trade Agreement (PICTA) and the Pacific Islands
Agreement on Closer Economic Relations (PACER)
provides a window of opportunity for Fiji to export
its products and services to the Forum Island
countries. Also, to capitalize on the above opportunities
for increasing exports, the range of products
and services will have to be increased and newer
markets for these will have to be established.
| OUR RESOURCES |
The Government as part of its commitment to funding
FTIB's operation has allocated funds in the 2003
budget as follows:
It will be supplement with income earned by FTIB
carrying out other services. FTIB expects more
support from Government in terms of allocation
of funds in the coming years so that the overall
objectives of increasing investments and exports
are met.
In terms of Human Resources, the staff have been
provided significant skills developed opportunities
that will contribute towards better performance.
The training program is on going and the skills
will be harnessed on a continuous basis.
The organization is equipped with good IT systems
for its day to day operation, and will continue
to utilize them optimally to improve internal
efficiency. The vehicles are expected to be replaced
this year and plans to construct FTIB's is also
in progress.
| OBJECTIVES
AND STRATEGIES - INVESTMENT & PROMOTION |
MARKETING FIJI'S INVESTMENT OPPORTUNITIES
This key result area recognizes that to
attract investments to Fiji, the investment opportunities
and attractions must be actively promoted abroad
and locally. The competition for the investment
dollar is fierce and unless Fiji is actively marketing
itself as an investment destination the investment
dollar will not come to Fiji. FTIB will seek to
continuously market Fiji's opportunities and attractions.
Objective
To actively promote and market Fiji's investment
opportunities and attractiveness as a place to
invest.
Strategies
· Be proactive in carrying out promotional
activities
· Adopt innovative approach in marketing
· Market Fiji's investment opportunities
locally, thereby encouraging locals to invest
· Focus on sectors that have been identified
as having growth potential as identified in the
National Strategic Development Plan
Tasks
· Investment missions abroad
· Regularly hold local seminars
· Develop a network of overseas representatives
to carry out investment promotion activity and
link with existing trade offices
· Make greater use of marketing through
the electronic medium
· Develop better promotional materials
· Cooperate with agencies like Fiji Visitors
Bureau, AgTrade, Pacific Islands Forum, etc.,
in promoting investment opportunities in Fiji
· Identify the key industries providing
Fiji with international comparative advantage
FACILITATING INVESTMENT
Once the decision to invest is made it is important
to closely assist investors implement their projects
so that they are established as soon as possible.
Unless the projects are implemented the benefits
cannot be realised. Delays in implementation delay
the realisation of the benefits of the investment
and could cause the investors to forsake it.
Objective
To assist investors implement their projects as
soon as possible. |
Strategies
· Grant Foreign investment approvals in
a minimum timeframe
· Assist investors secure approvals, permits,
etc., required for the implementation of their
projects
· Assist investors to overcome key impediments
for the establishment of their projects
· Effective management of the industrial
zone delegated to FTIB
Tasks
· Staff to be well informed about the approval
requirements and procedures of agencies which provide
approval to investors
· Develop close working relationship with
key agencies involved in the approval process
· Develop a series of information bases
which would facilitate the day to day activities
of FTIB in the facilitation of implementation
of projects
· Work towards streamlining the investment
approvals process
· Be proactive in facilitating the implementation
of approved investments
ASSIST EXISTING ENTERPRISES AND LOCALS
Existing enterprise can be relied on to increase
as they are already established and are familiar
with the domestic investment environment. The
best prospect for increasing investment in the
short term therefore lies with encouraging existing
investors to maintain and expand their operations
and even undertake new investments. Also, there
are locals, particularly indigenous Fijians who
could also be encouraged to invest in new projects.
Objective
To work closely with existing enterprises maintain
and expand their operations and to undertake new
investments.
Strategies
· Actively encourage existing enterprises
expand their businesses
· Work with existing enterprises maintain
their operations and overcome problems they may
be facing impeding their growth
· Encourage existing enterprises undertake
new investments
· Actively encourage locals, particularly
indigenous Fijians invest
Tasks
· Conduct regular contacts with and visits
to companies to discuss how they are performing
and the problems they may be encountering
· Step up role as conduit of assistance
from agencies like CDE, Forum, EBAS, EIB, MIGA
and NZODA.
· Articulate problems faced by enterprises
to the relevant authorities so they can be addressed.
· Develop investment profiles identifying
investment proposal that can be pursued.
· Conduct investment seminars throughout
the region.
· Work with business councils and industry
groupings.
· Find joint venture partners for increased
investments.
| OBJECTIVES
AND STRATEGIES - DEVELOPMENT OF EXPORT |
INCREASING FIJI'S MARKET
Fiji needs to have access to key markets where
the products exported from Fiji can have considerable
growth and sustain its competitiveness for longer
period. These markets should be well diversified
and opportunities to expand the markets be sought
continuously.
Objective
To actively seek lateral and vertical expansion
of markets for Fiji's products and services for
exports
Strategies
· be proactive in identifying new markets
· seek to expand existing markets
· facilitate exporters explore opportunities
in new markets
· build strategic links with key agencies
in selected countries or regions.
Tasks
· identify specific countries where Fiji
products and services have significant potential
and prepare market profiles
· assist Government in the implementation
of the 'look-north' policy
· develop trading agreements wherever possible
to facilitate the entry of Fiji products and services
in these markets
· lobby to strengthen the existing trade
agreements that provides opportunities for Fiji
exports
· advise Government on issues that constrain
export to selected markets and propose solutions
to address the problems
· develop working relationship with regional
organizations that seek to assist the Fiji exporters
enter new markets
· advise exporters on the potential presented
by new and existing markets
· assist in facilitating implementation
of efficient transportation links with all export
destination
· work closely with Fiji's trade offices
and embassies abroad
· expand trade office representations abroad
| INCREASING
FIJI'S RANGE OF EXPORTABLE PRODUCTS AND SERVICES |
The products and services exported from Fiji
have remained very limited over the years. It
is important that we explore to diversify our
range of exportable products ad services and identify
niche markets that could be sustained for longer
periods. The major focus is on adding value to
our natural resources and building on knowledge-based
services for eventual exports.
Objective
To diversify the range of Fiji's exportable products
and services with emphasis on marketability of
these opportunities
Strategies
· be proactive in diversifying the exportable
products and services
· encourage value adding of natural resources
· promote the creation of exportable services
· assist in development of niche markets
Tasks
· prepare profiles that will assist the
businesses to develop new products and services
for exports
· raise awareness on identified opportunities
· identify industry specific problems hindering
development of exports and provide
· solutions
| OBJECTIVES
AND STRATEGIES - BUILDING INTERNALEFFICIENCY
& PROFESSIONAL CAPACITY |
EFFICIENT TEAM FTIB
Within the constraints of the available resources,
FTIB will build efficiency models which will allow
the team to deliver the key results that it has
planned for. It will seek to upgrade officer's
skill allowing them to perform better and ensure
optimum utilisation of resources.
Objective
To build an efficient 'Team FTIB' that works together
with the key industries and delivers as per stakeholders'
expectations
Strategies
· continuously upgrade the skills of FTIB
staff
· refine internal processes to improve
operational efficiency and development of knowledge
and skills
· align to the international best practices
model for increased efficiency
Tasks
· facilitate the development of appropriate
skills of staff to enable them to meet the responsibilities
of the positions they hold
· organise regular trainings for all staff
· introduce modern work management tools
for the day-to-day activities
· align the organisation structure to the
needs of FTIB to ensure effective management and
out put delivery
· organise the Library for internal and external
usage
| EFFECTIVENESS
MANAGEMENT OF BUSINESS CENTRES |
As part of its export and investment facilitates
role, FTIB will continue to provide service through
effective management of Business Centres for the
private sector to utilise. It will ensure efficient
management of the existing Kalabo Industrial Zone
and seek to develop and manage others as needs
arise.
Objective
To effectively manage the existing and new business
centers and seek to expand the operations as needs
arise
Strategies
· Provide the best levels of services to
the occupants of the Business Centres
· Seek to meet the market needs in terms
of factory space requirements without discouraging
the private sector development
· Align to the best practices in property
management
Tasks
· Ensure effective maintenance of the existing
Kalabo Industrial Zone
· Have timely rent collection
· Deploy resources to maintain highest
levels of occupation
· Actively promote FTIB's facilitation role
| PERFORMANCE
TARGETS |
In setting targets for the plan period, FTIB
has been guided by the targets set in the National
Strategic Development Plan as follows:
FIJI'S MACROECONOMIC TARGETS FOR THE MEDIUM TERM
The National Strategic Development Plan's target
is to raise investment to 25% of GDP by 2005. This
high investment ratio is necessary to support an
average economic growth rate of 5% per annum in
the next three years.
In dollar terms investment needs to increase
to over $600m from the current level of about
$200m a year. If it is assumed that the public
sector (ie. public enterprises and the government)
can be relied on to provide half of the total
Investment, private sector investment will need
to increase from the current level of about $100m
to $300m a year. This may not be a difficult target
to achieve given the investment projects that
are about to take place and the resurgence in
the investor confidence with improvement in the
investment climate.
Table
1
To achieve the 25% investment ratio by 2005, FTIB
targets to achieve investment levels as follows:
Table 2
These key sectors are expected to deliver most
of the investments in the plan period:
· Tourism
· Fisheries
· Forestry
· Manufacturing
· Information technology
· Audio visual industries,
· Mineral water, and
· Mining.
|
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