Local businesses urged to aim for export-oriented growth

ANZ country head for Fiji Saud Minam. Picture: FT FILE

FIJI’S economy is largely driven by tourism, which also has downstream effects for ANZ Bank’s customers in other industries, including wholesale and retail trade, transport, accommodation and food services, says the bank’s country head for Fiji, Saud Minam.
Mr Minam made the statement in response to the launch of the ANZ’s Fiji Economic Outlook today.
“To help Fiji unlock its full potential, local businesses should aim for export-oriented growth and to broaden the range of tourism product offerings, including cultural tourism. We can take a lead from other markets that have achieved a faster pace of economic expansion to create more job opportunities and make Fiji a better place to live and work,” said Mr Minam.
One of the key findings from the report states that ANZ expects Fiji’s economy to grow by 3.3 per cent in 2018 and 3.1 per cent in 2019, supported by strong private and public sector investment.
Household consumption expenditure is forecast to increase by 3.3 per cent a year over the next two years, supported by employment growth and remittance inflows.

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