Minister for Infrastructure, Jone Usamate says diversification has been taking place in the country however the Leader of the National Federation Party, Professor Biman Prasad says Fiji at any cost, must avoid becoming a remittance and tourism economy in the future.
While contributing to the debate on the Consolidated Report on the Review of Ministry of Industry, Trade and Tourism 2016/2017 and 2017/2018 Annual Reports tabled on 18th August 2021, Usamate says the country was initially dependent on sugar and over time, it came to the tourism sector and now the economy has become a service-based fund.
Usamate says they are moving on from private commodities and dealing with value addition.
He adds that another great diversification they have been doing is the Youth Entrepreneurship Scheme that is getting more youth involved in entrepreneurship as they are the future.
Meanwhile, NFP Leader Professor Biman Prasad says the government should not let Fiji become a remittance and tourism economy in the future because there will be a lot of competition in these sectors.
Professor Prasad says in the next 5 to 10 years the tourism industry worldwide will be a big challenge as there will be a huge competition.
He says the government should appreciate personal remittances since a lot of the recovery that is seen in 2021 and in 2022 will be fueled by these remittances.
Professor Prasad says there was $652 million coming into the country through remittances and in 2021 it was close to $800 million.
He adds we must ensure that while we concentrate on attracting foreign direct investment and if we want to rely on high-end investment, particularly in tourism and other sectors, we need to do better.
The Leader of NFP says this government is lacking in its campaign on how it will provide opportunities for new industries and new sectors so that we can broaden the base of the Fijian economy.
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