5 Oct 2004

Asian Development Bank pessimistic about Fiji private sector

10:13 am on 5 October 2004

The Asian Development Bank has expressed pessimism about Fiji's private sector growth.

The bank's assessment says Fiji's private sector faces low growth, low investment, poor human development indicators, insufficient jobs and a high-cost business environment.

The Asian Development Bank says some of the reasons for the private sector's poor performance are political uncertainty, weak property rights, costly infrastructure and distorted incentives.

It lists other inhibiting factors as burdensome regulations, ineffective legal systems for business and poorly functioning financial markets.

The Fiji Times says the full report of the ADB, prepared by its South Pacific Office, is expected to be released later this week.