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Investment opportunities in the South Pacific



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J j L DEPARTMENT OF INDUSTRY AND COMMERCE isEy INCLUDING THE AUSTRALIAN CUSTOMS SERVICE

_____ 26 OCTOBER 1984 IMMEDIATE RELEASE ______

M E D I A B A C K G R O U N D E R

INVESTMENT OPPORTUNITIES IN THE SOUTH PACIFIC

In November 1984, with the participation of eight countries of the South Pacific region - Fiji, Kiribati, Papua New Guinea, Solomon Islands, Tonga, Tuvalu, Vanuatu and Western Samoa — a unique package of investment opportunities will be presented for

discussion at the Investors' Forum for the South Pacific Region in Suva (Fiji).

Almost 100 industrial· investments projects - selected by careful Investigation and evaluation — will be presented in sectors such as wood processing, leather, chemicals, textiles, clothing, fabricated metal, electrical appliances and agricultural products. For most projects local private sector sponsors are available to negotiate agreements with overseas interests.

In seeking the partnership of foreign investors to establish new and expand existing industrial projects, the Forum is aiming to:

• establish joint ventures • finance new industrial projects by means of medium and long­ term loans • transfer technology and know-how to the South Pacific region

• gain access to foreign markets

The Forum is being sponsored by the United Nations Industrial Development Organisation (UNIDO), the Economic and Social Commission for Asia and the Pacific (ESCAP) and the Commonwealth Secretariat, and is being hosted by the Government of Fiji.

Numerous inquiries have been received from interested potential investors from a variety of countries.

Investment Attractions

The countries of the South Pacific region constitute an

integrated region offering a substantial and growing market, easy access to a range of natural resources and excellent

opportunities for the development of industrial projects by means of joint ventures and other forms of co-operation. They produce :

* agricultural commodities such as coffee, cocoa, copra,

coconut oil, tea, crude rubber, dessicated coconut, fruit and vegetables

♦ ;minerals (f.or exajmp le ,

• fish and fish products

•

)

logs and sawn timber

nickel, copper, gold and manganese)

(such as tuna and prawns)

These products account for much of the region's employment and export earnings. According to the Forum organisers, the

prospects for establishing profitable agro-industrial and manufacturing industries are good if appropriate technology and management skills can be introduced.

The countries of the South Pacific region are seeking fresh

opportunities to further the industrial development of the region by building on existing industries and developing their capacity to manufacture finished goods for world markets. However, to make this possible, managerial, technical and financial

assistance is needed from industrially advanced countries and from other developing countries.

In recent years the countries of the South Pacific region have made good progress in their endeavours to create a favourable environment for foreign investment, including the enactment of laws and regulations encouraging investment from abroad.

Forum details

The Investors' Forum will be held at the Trade Winds Convention Centre in Suva (Fiji) from 26 to 30 November 1984.

After opening with a short plenary session, the Forum will focus on the project proposals. A series of individual discussions between project sponsors and potential partners will take place during the rest of the week. A briefing session giving details of investment policies in countries of the region is planned, during which potential investors will have an opportunity of

putting questions on any matters of interest to them. Given

prior notification, UNIDO will prepare individual programs for each project sponsor and potential foreign participant to ensure they can discuss those areas which are of special interest t-o them. .

The Department of Industry and Commerce has been asked to co­ ordinate Australian industry involvement in the Forum. Details regarding registration and project proposals can be obtained from M r L. Ffrench, International Branch, telephone 062-724157.

CANBERRA ACT