14 Jul 2005

Business confidence plunges over coup fears in Fiji

7:03 am on 14 July 2005

Business confidence in Fiji has plunged in the wake of the uncertainty created by the standoff between the government and its military over the Reconciliation and Unity Bill.

The Fiji Times reports that as a result many investors are not willing to risk sinking more money into the economy.

This view is shared by the Fiji Chamber of Commerce and the Fiji Employers' Federation both of which have expressed concern about losing the economic progress achieved since the Speight coup.

Chamber president, Taito Waradi, says a survey has shown that many investors are not willing to risk Fiji because of political instability.

The chief executive of the Employers' Federation, Ken Roberts, says the uncertainty is resulting from the heated debate on the Bill and he hopes moderation can prevail.