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$50 billion for 20-Year Plan for development in Fiji

Fiji will spend $50 billion (US$25 billion) in the next 20 years to meet its ambitious National Development Plan.

Ministry of Economy’s Senior economic planning officer, Tui Sikivou, while making a submission to the Standing Committee on Natural Resources on Tuesday said that the broad 20-year target was to guide Fiji towards a prosperous, inclusive, sustainable, resilient and low carbon future.

He said that the Inclusive Socio- Economic Development includes the four-fold increase in GDP per capita.

“Government debt to be reduced to 35 percent of GDP. Reducing our unemployment rate to below 4 percent and reduce national poverty rate to 10 per cent by 2036,” he said.

Sikivou said the transformation strategic thrusts will look at how we can nurture new and emerging growth which can help us achieve our economic targets.

He said their aim was to “improve our transport and our digital infrastructure. How we take advantage of our young population and to continue to develop the skills of our working force,” Sikivou said.

“How do we embrace appropriate and new technology in order to improve our productivity and how do we build vibrant cities and towns and a stronger rural economy.”

On sustainability, Sikivou said Sustainable Management and Development of Forestry resource policies is to strengthen sustainable forest management, encourage private sector participation plantation development and support the growth of timber product development.

Some of the programmes he mentioned that will enable this were: “The programmes are reforestation of 5300 hectares of degraded forests by 2022, increase total forest area under long term conservation at least 5 percent per annum and monitor 50 permanent sample plots annually.”


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