Huge opportunities in Fiji: Ernst & Young
Fiji is filled with a wide variety of opportunities and the onus is on authorities to “grab” them and make it happen, says Ernst & Young’s visiting Oceania Managing Partner James Millar.
Millar said not all is bad in Fiji and there is enormous potential in the various sectors of the economy which could be explored to get real growths.
He highlighted the recent growths with Ernst & Young recording massive growths in India and China and the other hundred plus countries it operated in.
He said Ernst & Young was now tuning some $24.5 billion globally employing over 100,000 people in over 100 countries around the world.
He said globalisation was now playing a huge part as people from even smaller countries like Fiji reaching out to the far side of other parts of the world.
He added there were demographic shifts happening and it would continue to do so.
"We have an operation in India which employed some 500 people and a few years down the line, there are over 2500 people.
"Even China is growing substantially and it’s growing by 35 per cent per annum," Millar said.
"We have a turnover, depending on our economic situation whether it is a growth by 10 per cent or 12 per cent, there will be growths of between 120 to 130 per cent," he said.
"With that level of growth, those are the positives and they are still here," he added.
"I think the challenge is for us to grab them. There are enormous opportunities and we have to make sure they are guarded and protected to grow in the business environment."