The Fiji National Provident Fund or FNPF will be given much greater freedom to invest locally and abroad when a bill to be tabled in parliament next week is passed.
The Fiji Times quotes the fund's chief executive, Olota Rokovunisei, as saying amendments to the FNPF Act are necessary to soak up finances sitting in bonds, term deposits and securities.
The Fund has more than 2-billion US dollars in assets with more than half invested in Fiji government bonds.
Mr Rokovunisei says changes to the law will allow the fund to put money into profitable, high yielding investments like new companies, infrastructure or the US currency.
He says there are over 51-million US dollars sitting in Australia ready to be placed on the international market but this cannot be done until the law is changed.
