World Video | Defence | Foreign Affairs | Natural Events | Trade | NZ in World News | NZ National News Video | NZ Regional News | Search

 

No investment because of uncertainty, says US

No investment because of uncertainty, says US

Fri, 23 Feb 2001 09:29:43 +1200

PEOPLE'S COALITION GOVERNMENT, FIJI Issue No: 508 22 February 2001

visit our website: http://www.pcgov.org.fj

No investment because of uncertainty - US

The American government says that the lack of investment in Fiji, and the lack of commercial deals between Fiji and the US is a result of the current political situation in Fiji. Newly appointed US Commercial Attaché at the US Embassy, Chris Hodges told the media the a lot of investors are adopting a wait and see attitude now. He said: "That is what we are finding out right now, and then it only makes sense. One of the keynotes of any kind of economic success is political stability. And if you put money into a business you want to know that in two years your contract will still be there".

The spate of lawlessness, roadblocks, takeovers of businesses, and demands for premiums and goodwill money by people claiming to be landowners has sent shockwaves through the business community. Their major concern is that the regime and its ministers have themselves been behind the violation of the law here. The major threat has been to the sanctity of contracts, said one businessman.

Investment in Fiji is at a total standstill. Even investors operating here have been leaving. This week two major garment factories closed their operations laying off about 1000 workers. Trident and Radar Pacific have shipped out their machines and are reportedly relocating to other countries. Over 18,000 people have been laid off from their jobs since 19 May 2000.

The regime, meanwhile, insists that investment is rising in Fiji, and people are happy.

END

© Scoop Media

 
 
 
World Headlines

 

Rohingya Muslims Massacred: Restrictions On Aid Put 1000s At Risk

Amnesty: The Myanmar authorities’ restrictions on international aid in Rakhine state is putting tens of thousands of lives at risk in a region where mainly Rohingya people are already suffering horrific abuses from a disproportionate military campaign. More>>

ALSO:

Werewolf: Gordon Campbell On North Korea, Neo-Nazism, And Milo

With a bit of luck the planet won’t be devastated by nuclear war in the next few days. US President Donald Trump will have begun to fixate on some other way to gratify his self-esteem – maybe by invading Venezuela or starting a war with Iran. More>>

ALSO:

Victory Declared: New Stabilisation Funding From NZ As Mosul Is Retaken

New Zealand has congratulated the Iraqi government on the successful liberation of Mosul from ISIS after a long and hard-fought campaign. More>>

Gordon Campbell: On The Current US Moves Against North Korea

If Martians visited early last week, they’d probably be scratching their heads as to why North Korea was being treated as a potential trigger for global conflict... More>>

ALSO:

Gordon Campbell: On The Lessons From Corbyn’s Campaign

Leaving partisan politics aside – and ignoring Jeremy Corbyn’s sensational election campaign for a moment – it has to be said that Britain is now really up shit creek... More>>

ALSO:

 
 
 
 
 
 
  • Pacific.Scoop
  • Cafe Pacific
  • PMC