[Photo: FILE]
The Standing Committee on Economic Affairs’ consolidated review of Investment Fiji’s 2022-2024 annual reports finds they lack sufficient evidence for parliament to independently assess the organization’s true impact.
Committee Chair Sakiusa Tubuna says the reports place too much emphasis on promotional activities and broad outcomes, rather than verifiable data.
While the Committee noted positive steps in export promotion and diversifying investments beyond traditional industries, it identified significant shortcomings in information quality, transparency, and reliability.
Tubuna says that of particular concern is the absence of independently verified data for key performance indicators, including reported investment outcomes, job creation figures, export achievements, and diaspora investments.
The Committee also observed deficiencies in governance reporting, noting that neither annual report provided adequate details on Board performance, meeting attendance records, or committee activities.
Furthermore, reporting on critical operational functions like investor aftercare and policy advocacy was limited.
On a broader scale, the review highlights challenges affecting the local investment environment, including regulatory delays, infrastructure constraints, and weak coordination among government agencies.
In response, the Committee has made several recommendations to improve governance, strengthen data verification, and enhance inter-agency coordination.
Implementing these reforms aims to strengthen parliamentary oversight and improve public confidence in reported economic outcomes.
