Fiji could tap into US$1trillion Global Outsourcing Services

Fiji could tap into US$1trillion Global Outsourcing Services

By Naveel Krishant
Wednesday 04/05/2022

The development of outsourcing services could see Fiji tap into a global market estimated to be worth almost US$1 trillion, while providing the economy with a climate-resilient source of growth and inclusive jobs.

This is according to a new World Bank Group report.

The Fiji Country Private Sector Diagnostic report, by IFC and the World Bank, says the COVID-19 pandemic and a series of extreme weather events have been devastating for the economy and exacerbated some of Fiji’s long-standing structural issues.

It recommends a four-pronged approach for the future –unlocking new sources of growth beyond tourism, strengthening economic and climate resilience, leveraging Fiji’s potential as an economic hub in the Pacific region and creating inclusive job opportunities.

In parallel with efforts to diversify the economy, the report says Fiji must prioritize areas and reforms that can help expand its external market and leverage its geographic centrality in the Pacific to become an economic hub for Pacific nations, and potentially the broader Asia-Pacific region.

It says a focus on healthcare and agri-logistics as well as developing outsourcing services can help generate high numbers of quality jobs, especially for women and youth, who have historically experienced greater unemployment and have been disproportionately affected financially by COVID-19.

It is estimated that about US$4.6 billion will be needed to address Fiji’s climate-change exposure in the next 8 to 10 years.

Attorney General and Minister for Economy Aiyaz Sayed-Khaiyum says Fiji is the hub of the South Pacific with aspirations to become a more significant driver of growth for the wider Asia- Pacific region.

Sayed-Khaiyum says tapping into the US$1-trillion-opportunity that the global outsourcing sector represents is a key facet of Fiji’s ongoing post-COVID recovery by creating good jobs that leverage our young and highly educated workforce.

Credit Corp Fiji Care
Credit Corp Fiji Care
Tuwai seeks parents’ blessings to help him win 3rd Olympic gold
It was an emotional farewell for Fiji 7s legend and two-time Olympics gold-medallist Jerry Tuwai and his family when the 35-year-old left our shores w...
5 hours ago
Youth admitted at the Vunisea Hospital after involvement in an alleged break-in
A youth of Vunisea in Kadavu is currently admitted at the Vunisea Hospital after he was assaulted when he allegedly broke into a home in ...
5 hours ago

WAF operations team finds signs of sabotage
The water disruption experienced within the Colo-i-Suva Village has been resolved as the issue was caused by a failing pumping system at the Forestry ...
5 hours ago

Masi and Sauturaga’s family hyped to watch the two players play at the Olympics
Team Fiji Men’s Rugby 7s players Iosefo Masi and Filipe Sauturaga's family are all hyped up to watch the two players take the field in the Paris ...
5 hours ago

4 men remanded for aggravated robbery in Lautoka
Four men have been remanded by the Lautoka Magistrates Court for their alleged involvement in an aggravated robbery case in Lautoka. Police say it ...
6 hours ago

Serua Village youths unite for mangrove restoration to protect island from climate threats
The youths of Serua Village in Serua are now working together for the Serua mangrove rehabilitation to fight against rising sea levels and climate ...
7 hours ago

fijivillage Straight Talk with Vijay Narayan
Latest Videos

Stay tuned for the latest news on our radio stations

CFL radio frequencies
Time to speak out about human trafficking in Fiji
Human trafficking has a long history in Fiji, dating back over 150 years to the era of indentured labour and blackbirding, when many were forcibly ...
1 day ago

Naca Cawanibuka on fijivillage Straight Talk With Vijay Narayan
Accomplished Strength and Conditioning Coach for the Olympics gold medal winning teams in Rio and Tokyo, Naca Cawanibuka on fijivillage Straight Talk ...
1 day ago

Acting Director of Substance Abuse Advisory Council on fijivillage Straight Talk With Vijay Narayan
Acting Director of the National Substance Abuse Advisory Council, Josua Naisele on fijivillage Straight Talk With Vijay Narayan
2 days ago