MIIT, FNPF ink MoU
14 June, 2019, 8:33 pm
A MEMORANDUM of Understanding (MoU) that will secure Fiji National Provident Fund’s (FNPF) support as a primary developer and management services provider of the development and construction process of the Zone was signed today by the the Ministry of Industry, Trade and Tourism (MITT) and FNPF.
Overall, the MOU will guide the land use, development and operation of the Special Economic Zone (SEZ) Project.
As per Fiji’s 5-Year and 20-Year National Development Plan, the Fijian Government has made a strong commitment to develop Fiji as a manufacturing and services hub of the Pacific for which developing specialised economic zones is essential.
SEZ will help Fiji build economic resilience against natural disasters, create employment to eradicate the urban drift challenges faced by the communities of the Western division.
The signing of the MoU will enable the Ministry and FNPF to strengthen partnership and work together to develop the Zone.
It is envisioned that the Zone will cater for enterprises in the ICT sector, which would include Business Process Outsourcing, Call Centers, as well as light manufacturing, warehousing and services-based operations linked to key economic sectors.
Under the MoU, the Ministry will undertake overall policy oversight, and provide support towards the operation, sales, leasing, marketing, incentives, concessions, one-stop-shop services for investors, and access to utilities for the project.
FNPF will act as the primary developer developing the Zone and supporting infrastructure through related civil works.
The Ministry and FNPF acknowledge that the Project will bring tangible benefits to Fijians and businesses along the Nadi-Lautoka corridor, its surrounding areas and ultimately to the country.