As the country comes to terms with the reduced economic growth, rising cost of living, and several global and local economic factors, Reserve Bank of Fiji Governor, Ariff Ali says we need to address the issue of approvals and Ease of Doing Business as he has heard that $2 billion in loans have been approved for the private sector but this has not been drawn down.
While speaking during the State of the Fijian Economy Dialogue organised by Dialogue Fiji, Ali says the reason why these loans have not been drawn down by the private sector is due to pending approvals relating to their projects.
Ali says the private sector has been resilient even during and after COVID.
He says we need to focus growth through and with the private sector.
Ali also touched on the Employment Relations Bill in the current form as most of the private sector has raised concerns about parts of the proposed law.
He also says we need to be mindful of the level of the minimum wage rate.
