Fiji’s Deputy Prime Minister and Minister for Finance, Prof. Biman Prasad, has championed regional integration, economic resilience, and transparent governance during his keynote address at the 50th Congress of the Fiji Institute of Chartered Accountants (FICA) in Nadi.
In a wide-ranging speech, Prof. Prasad reaffirmed the government’s commitment to building a “fully integrated regional economy” under Fiji’s upcoming National Development Plan 2025–2029 and Vision 2050. He outlined a Pacific vision anchored in stronger international partnerships, visa-free travel within the region, shared infrastructure development, and increased trade cooperation.
“Our national budget must be founded on two core principles – transparency and stability. There will be no hidden messages; there are no hidden resources,” he said.
“You must be able to see that all our policies and programs are as transparently costed as possible. Trust flows from that.”
Prof. Prasad assured delegates that the upcoming national budget will contain no new taxes. Instead, the government will focus on closing compliance gaps and increasing operational spending on social welfare, agricultural support, and infrastructure – as a buffer against potential global economic slowdowns.
He also highlighted the importance of aligning development partner programs with national priorities and thanked those partners for their continued support. Notably, he announced a modest increase in government funding for FICA, recognising its pivotal role in shaping Fiji’s economic future.
Promoting a united Pacific, Prof. Prasad stressed the untapped potential of the Blue Pacific region, which collectively has a market of nearly 20 million people. He noted recent trade missions led by Deputy Prime Minister Manoa Kamikamica to Tonga and Papua New Guinea, calling for reciprocal visits to Fiji.
“There’s no reason why Solomon Islands logs cannot be processed in Fiji rather than in distant Asia,” he said.
“When we pool our talent, financial and human resources, and market power, we can grow whole new industries that are simply not possible at national levels.”
He cited the emergence of regional health facilities as an example of organic, entrepreneurial solutions to Pacific-wide challenges.
“A more regional approach to tertiary and specialist healthcare is a win-win zone for us all,” he said.
Professor Prasad urged a regional vision that facilitates the free flow of talent, capital, and resources across Pacific borders. He imagined a future where regional bulk-purchasing of essential goods like Panadol and united trade negotiations with Asian markets could drive economies of scale and shared prosperity.
“A Pacific-centred economy is within reach,” he concluded.
“The speed at which we move towards it will determine how soon we realise its full benefits.”
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