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Businesses closing down in Fiji

Businesses closing down; no investment
Issue No: 420 28 January 2001

Businesses in Fiji are closing down because of continuing instability and lack of consumer demand.

The latest in the closures is the Cost-U-Less store chain which announced that it is closing its Nadi outlet and laying off about 40 people. The reason given for the closure is the depressed demand due to a decline in the tourism industry.

Shops in most urban areas have also been closing down. There is no town or city which has not seen any closure of shops because of political instability and declining economy. The consequences are grave since the closures not only lead to declining employment, but also the ripple effects cause a serious negative effect in the economy.

Democracy activist and SVT member, Jone Dakuvula believes that the continuing instability is because of a lack of confidence in the Qarase regime. Writing in today's Daily Post, he states that the non-indigenous communities in Fiji "feel pessimistic, alienated and rejected. That is why many qualified people that Fiji needs have left the country or are planning to leave. Businesses have closed down, many more are barely surviving and may not last very long, and there is no investment. There is no confidence in the future of this country".

Earlier, a major investment advisory company (Kon Tiki) had warned that investment in Fiji is not likely to pick up if the current regime continues to flagrantly disregard the rule of law and court decisions.

END 28 January 2001

© Scoop Media

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