Chinese investment in Fiji gets big boost
A Chinese investor group has acquired 6000 acres of land on Fiji’s main island of Viti Levu.
The new development will consist of a hotel, residential lots, medical facilities, golf course, shopping facilities and agricultural developments according to the group.<!--more-->
The agriculture project will involve a technology centre being planned by the Chinese Institute of Technology and other Chinese research institutes. The initial investment alone will be in the range of F$100 million and go toward building the necessary infrastructure.
The group has had discussions with the country’s main foreign investment channelizing office, the Fiji Trade and Investment Bureau (FTIB). FTIB officials have confirmed the new project and said all assistance will be afforded the project once it seeks all necessary approvals.
The facility located near Taunovo Bay on the Queen’s Road is expected to employ some 500 locals, according to the investor group.