Nabilah S
Local businesses in Fiji are set to benefit from an expanded investment portfolio, thanks to the efforts of Fijians living in the United States.
This development follows the establishment of a chamber of commerce in the U.S. aimed at fostering business connections between the two countries. The US Fiji Chamber of Commerce, which began operations last June, currently includes seven USA-based businesses that invest in Fiji, according to chamber president Narendra Narayan.
Mr. Narayan, a tech expert and president of Innovative Circuits Engineering, is also the founder of the Narayan Family Foundation in San Jose, California. He highlighted technology and agriculture as the primary sectors for investment.
“The tourism industry has pretty much taken off; it doesn’t need much of our involvement,” he said. “The reason for focusing on technology is that university graduates in Fiji have limited opportunities, and we want to create jobs for them.”
Before any investments are made, a memorandum of understanding is signed between the chamber and the Fiji Trade Commission North America. Mr. Narayan emphasized that Fijian businesses need support to grow, and the chamber aims to bridge that gap.
The chamber is registered as a business league under Section 501(c)(6) of the Internal Revenue Code, meaning it operates not for profit. Its goal is to create a supportive environment for businesses in both Fiji and the United States to connect and expand. The chamber aims to reach 50 members before its first anniversary.
Mr. Narayan pointed out that there are over 1,000 Fijian-owned businesses in California that could be encouraged to invest in Fiji.
Major Investment Initiatives
One such investor is Poasa Koroitamana, owner of the multi-million-dollar company Divine Fijian Group, who is currently developing a piggery farm on 56 acres of land in Nausori.
In partnership with Vuda Piggery Farm and Wainanitu Piggery Farm, his business aims to become the Pacific’s premier meat exporter.
Additionally, Mr. Koroitamana has plans to develop a retirement haven for Americans in Maui, Nadroga, featuring:
- Land tenure: Freehold
- Property development: 20 houses
Speaking at the chamber’s third networking event last Saturday—the first of its kind in Sacramento—Mr. Koroitamana emphasized the impact of the chamber’s involvement.
“The chamber will unlock endless opportunities by tapping into the expertise of its members, who are experienced business leaders,” he said.
He also stressed the importance of retaining skilled labor within Fiji:
“Instead of Fijians leaving for better prospects, we should create opportunities for them at home.”
