Vision Investment Limited and Vision Resorts Limited have a combined annual revenue of approximately $375 million, employ around 1,750 people and have shareholder funds of about $275 million.
This has been highlighted by Group Chairman Navin Patel as the group celebrates 20 years since its formation and the acquisition of Courts Home Centres Limited, and 10 years since Vision Investment Limited was listed on the South Pacific Stock Exchange.
It was also highlighted that for the financial year that ended in March, the group reported a net profit after tax of $17.67 million, total assets of $314 million and equity of $141.8 million.
He says behind every dollar of revenue is a customer who plays their trust on them, adding without customers, there would be no business.
Patel has also highlighted that as business leaders, they recognize and appreciate the efforts that have been made to support economic development, however, for business to invest with confidence and to execute projects efficiently, there must be a greater urgency and responsibility in key approval processes.
He says whether it relates to investment approvals, development applications, permits, licences or infrastructure support, time matters, adding that in business, delays are costly and a delayed approval often means a delayed investment, project, job opportunity and ultimately delayed economic benefits for Fiji.
Patel says there remains a meaningful gap between the expectation of the business and investment community and the outcome often experienced through government processes.
He says closing this gap would be one of the most powerful catalysts for economic growth and the private sector confidence in this country.
Patel adds the business community stands to work in partnership with the government and together they can create faster approval pathways, more responsive service levels, greater certainty for investments, stronger economic outcomes for Fiji.
Deputy Prime Minister and Minister for Industries, Commerce, Business Development and Public Enterprises Manoa Kamikamica has highlighted that the single largest shareholder in Vision Investment Limited is the Fiji National Provident Fund, which means every working Fijian who contributes to FNPF is, in a very real sense, part owner of the group.
He says the retirement savings of everyday workers are directly tied to the performance of these businesses, turning corporate success into a national shared interest rather than simply private capitalist gain.
Kamikamica says listed companies also tend to reinvest more confidently in expansion and employment, since access to public capital markets gives them room to grow beyond what bank financing could not do alone.
Kamikamica has also revealed that there have been discussions between the stock exchanges of Fiji and Papua New Guinea to create a dual listing.
He says the software between the two exchanges is compatible and the proposal is now largely a matter for regulators.
Kamikamica says if the dual listing happens in the next few years, it could bring a different dimension to the South Pacific Stock Exchange by allowing capital to move between two of the largest economies in the Pacific.
He says it could also pave the way for other Pacific countries to become involved in the South Pacific Stock Exchange.
He also responded to Patel's comments on the ease of doing business, saying the Government has launched the first National Ease of Doing Business Strategy, with a target for 70 to 80 percent of government services to be automated by 2030.
He says this will include a National ID and the automation of immigration services.
Kamikamica says the Government is also working on a Building Permit Approval System, which was initially expected to be launched this year but may now be delayed until early next year.
He says the system is expected to reduce building permit approval times, which can currently take two to three years, to six months and eventually even shorter.
Kamikamica has encouraged Vision Group to continue focusing on innovation, sustainability and responsible investment as it enters the next decade as a listed company.
