Promise Unfulfilled: Private Sector Assessment for Fiji

Date: July 2005
Type: Country Planning Documents
Country:
Fiji
Subject:
ADB administration and governance; Private sector
Series: Country Sector and Thematic Assessments

Description

Political and economic uncertainties in Fiji have created an environment of little business confidence. The economy is not growing at a rate sufficient to generate jobs and reduce poverty. Fiji is challenged by a difficult phase of structural change. The Fiji Government has committed to implement private sector friendly policies and structural reforms, as reflected in Government's medium term Strategic Development Plan 2003-2005 (SDP). Based on a survey of businesses in Fiji, and a review of the existing private sector environment, ADB's Private Sector Assessment for Fiji emphasizes the central role of the private sector in promoting the rapid economic growth that Fiji needs to create employment and prosperity. Specifically, the Report recommends priority areas for a private sector development agenda for Fiji, as follows:

  • improve access to finance and further developing the domestic financial market
  • accelerate State-owned enterprise (SOE) reform
  • enhance infrastructure service provision through public-private partnerships
  • modernize the commercial legal and regulatory framework
  • address property rights issues, including the simplification of procedures to unlock land for productive and economic uses within a traditional landownership framework
  • improve the tax and incentive system

Contents

  • Executive Summary
  • Introduction
  • Costs of Conducting Business in Fiji
  • Sate Ownership of Enterprise in Fiji
  • Property Issues and Private Sector Development in Fiji: Introduction
  • Reform Recommendations
  • The Legal Framework for Business in Fiji
  • Financial Markets
  • Conclusions and Policy Recommendations
  • Summary Strategy for Implementing a PSD Agenda
  • Bibliography
  • Appendixes