4 Aug 2014

Kiribati President says Fiji land investment for future

6:45 am on 4 August 2014

The President of Kiribati says the Government's purchase of land in Fiji is a valuable investment for the people of Kiribati that should reap benefits if Fiji maintains political stability.

The Kiribati Government has purchased a 2,210 hectare property at Natoavatu Estate on Vanua Levu in a bid to enhance its economic and social resilience in the face of climate change.

Anote Tong says Kiribati lost hundreds of millions of dollars during the financial market crash of 2008 and the purchase of land is to provide financial stability.

"Given the financial markets are just playing a lot of uncertainties, investing in real estate like that is not a bad idea. There is no doubt in my mind the value will go up in a time, in a very short time, with stability, political stability in Fiji, everything will improve."

Anote Tong says did not rule out Kiribati people moving to the land in Fiji in the future.