Fiji urged to reopen credit bureau
THE Fijian Government will need to improve its land lease processes if it has to create a business friendly environment for the private sector, says the International Monetary Fund. And the IMF projects that Fiji’s economy would grow by around 3.5 per cent in the coming year and would maintain that growth in the medium term.
Improving land lease processes is one of the few conditions the team from the IMF who were recently in Fiji suggested to government from their preliminary findings on their annual country surveillance.
Murphy said in order for the private sector to thrive which would in turn drive economic recovery, conditions must be put in place to improve the business environment. While Murphy and his team acknowledged the existing mechanisms to use land and several efforts by the Fiji Government to improve leases like the introduction of a land bank, they heard from the private sector that lease processes were lengthy and time consuming.
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