1 Jul 2010

Business fears uncertainty over Fiji media decree

2:59 pm on 1 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.