Increased confidence in the Fijian market

The resumption of international travel has brought increased confidence in the Fijian market.

Minister for Economy, Aiyaz Sayed-Khaiyum says the past 18 months have been unstable due to the unknowns brought about by the pandemic.

Sayed-Khaiyum says the diplomatic positioning and maneuvering by the government has led to the reopening of many businesses.

“That of course has led to a lot of confidence and I was talking to your president, he is saying that 100 percent of all the shops have opened up. It is because of the strategic planning and the opening of the border we are in that position today.”

The private sector has been encouraged to not only consider long-term investments but to participate in lighting up towns and cities this festive season.

“Turning your lights in the evening plays a critical role and it doesn’t cost that much. To have your city well lit up or your Christmas lights displayed gives people the confidence and create a safe for happiness to confidence building.”

A lot of businesses have benefited from the $200m loan facility provided by the government the bulk of which has been disbursed by commercial banks.

The loan aims to help businesses get back on track with the impact of COVID-19.

Credit: FBCTV

Professionalism needed in the real estate sector

There is a need for professionalism in the real estate says Minister for Housing Aiyaz Sayed-Khaiyum.

Launching the Jokhan Realtors office in Ba, Sayed-Khaiyum highlighted there are some agents involved in illegitimate activities.

He also highlighted a World Bank Report from 2007 that one-third of the Fijian economy operates outside the law.

Sayed-Khaiyum says real estate agents are necessary to bring accountability into the sector.

While acknowledging Jokhan Realtors for investing during this difficult phase, Sayed-Khaiyum says it is crucial to have such businesses.

“It’s best to engage a professional service provider than to do things on your own. It brings better accountability and ensures your compliance with FRCS and many other areas of the law. So I would like to thank Jokhan Realtors for actually taking a very brave step. Many people in fact shifted away from investing.”

Jokhan Realtors Director, Reginald Jokhan adds that despite the challenges brought about by the COVID-19 pandemic, investor confidence remains high.

He is also planning to open an office in Savusavu and Labasa.

Credit: FBCTV