Editing Economy of Fiji (section)

== Development plan ==

In September 2002, the government announced a 20-year development plan. Among other things, it aimed to give [[Fijians|indigenous Fijians]] a greater stake in the economy. The plan envisages [[tax]]-relief to businesses owned or managed by ethnic Fijians, along with greater protection for indigenous land and fishery rights.

A major aim of the Fijian government is to achieve self-sufficiency in [[rice]] production. Cattle farming, fishing, and forestry (especially pine trees) are being encouraged to diversify the economy; the leading manufacturing industries involve the processing of primary products. On 14 April 2005, the [[Cabinet of Fiji|Cabinet]] approved [[Prime Minister of Fiji|Prime Minister]] [[Laisenia Qarase]]'s proposal to develop a [[biofuel]]s industry. Under the plan, [[ethanol]] is to be developed as a complement to the [[sugar industry]], with the hope of alleviating Fiji's dependence on imported [[fossil fuel]] such as [[petrol]].

On 15 August, Qarase said that the [[United Nations Development Programme]] (UNDP) had granted assistance to Fiji to develop its biofuels project. Transformation of the [[Fiji Sugar Corporation]] into an energy and sugar company would result in a turnover of [[Fijian dollar|F$1 billion]] by 2025, he said, and would cut imports of crude oil, generate export earnings, and provide a source of electricity. Energy could be produced from copra, forest, and agricultural products, as well as sugar. He touted the scheme as necessary for diversifying and strengthening the sugar industry for its own survival, as well as for the national economy. He said that the government of [[India]] had loaned [[Fijian dollar|F$86 million]] for upgrading of Fiji's sugar mills, which would be completed in time for the 2007-2008 crushing season.

On 28 December 2005, [[John Teiwa]] of the [[Coconut Industry Development Authority (Fiji)|Coconut Industry Development Authority]] announced that a 20-year plan for the [[coconut]] industry would be launched in 2006. Financing from international investors, including the government of [[India]], would be sought to develop processing of [[virgin coconut oil|virgin]] and [[extra virgin coconut oil]], with a view to venturing into foreign health markets. The government expected an annual profit of [[Fijian dollar|F$120 million]] from the venture, [[Fiji Village]] reported. Trials for the generation of fuel from coconut oil were also in progress, Teiwa said.