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Land reform will be the “key” reform that will unlock Fiji’s economic potentials, said Fiji Reserve Bank Governor Sada Reddy.
Speaking to stakeholders at the joint Fiji/Australia Business Council and the Australia/Fiji Business Council meeting underway in Natadola, Nadi, Reddy said he was impressed with the government’s 2010 Budget, presented to the nation last Friday.
“There are a number of reforms outlined in the 2010 budget: Reforms on land, sugar, public enterprises among others. Land is one of the key reforms and once done successfully, will unlock Fiji’s potential for the future. A lot of discussions are going on with key stakeholders to achieve this,” Reddy said.
He said it was important that business conditions were improved as business recovery would be the catalyst for growth, and for that to happen, the macro-economic conditions had to be right.
“The 2010 budget now provides the right kind of macro economic conditions for business to improve,” he said.
He said the Fiji economy was on track for growth from next year.
"We are very optimistic on that and the reform initiatives that will be undertaken next year will assist us in this growth."
