Thursday, July 01, 2010

Business fears uncertainty over Fiji media decree

Radio New Zealand International - 01 July, 2010

The president of the Australia Fiji business council, Brian Anderson, says a ten percent foreign ownership limit set out in Fiji’s new media decree has created more uncertainty among foreign investors.

The Australian-owned Fiji Times newspaper has three months to pass 90 percent of its shares to Fiji owners or face closure.

The interim regime says the decree is good for the economy.

Mr Anderson says while this decree targets just media outlets, restrictions might eventually be applied to other industries.

“Fiji is struggling at the moment to attract investors in the wake of various things that have happened. But this is going to, like I say, place a great deal of uncertainty on anyone who wants to invest money in Fiji.”
Brian Anderson.

Meanwhile the New Zealand Fiji Business Council president Rick Reid says the current situation is a worry to all investors.

Comments posted on

  • I do not think Bainimarama understand the ful;l implications of this Media Decree that he is putting in place.Economic indicators and stattistics do not lie Mike but Bainimarama and his illegal regime fail to understand it because they seem to have no clue as to what they are doing. Every foreign Investor is turning away from Fiji now because of this very repressive Media Decree in place. I do not think Rupert Murdoch is gonna take this lying down and Bainimarama must know that you do not mess with the big wigs when it comes to the economy or business dealings.
  • Now no one wants to invest in Fiji and this is an oportune time for terrorists from the Arab world to decend into Fiji just as Khaiyum wants. It is a pity that the once vibrant and very promising economic growth that was Fiji is now reduced to a virtual; non entity in the economic status and growth. This Media Decree will be the downfall of Fiji.
  • You don't have to be an Economist, an Accountant or a Marketing man to realize that businessmen will not invest in a country where the political climate is suspect; so much so if run by a dictator who is supported by a bunch of loosers whose revenge on the country which rejected them in a fair democratic election; have turned them into dangerous criminals; using the national Army to protect and carry out their dirty work. All this bullshits and excuses in trying to find scapegoats to blame for Fiji's failure to attract Investors is just plain bullshit. Take Fiji back to democracy and see what happens!

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