Forum Replies Created
Coup? What Coup?
Well the coup happened and thank goodness for everyone it was a bloodless event. It seems a great shame to undermine the rule of law and revert back to the law of the gun.
On the other hand… many Fijians I have spoken to are quite relaxed about the coup..indeed quietly support it.
Fortunately for Fiji and Fijians things seem to be stabilising much faster than after previous coup. There is a way to go yet.
There was a temporary suspension of land dealings which has or is about to be completely removed. As someone who has gone through the bureaucracy of the prior regime (without paying any gratuities) to get the land subdivided and title issued Im hoping that the end result will be a more efficient and investor friendly framework. We shall see if Mr Bainimarama lives up to those promises.
The tourism business is definately hurting, but it was not a co-incidence that the timing of the coup was immediately before the lowest season IMHO. Lets see if the numbers come back within 6 months as some are predicting. The tourism taskforce is certainly out there promoting Fiji as a destination.
Personally I remain optimistic and confident about Fiji. As Ive said before..you need to take a long term view.
Anyone else with on the ground reports to share?
regards
Hi Gross Realisation
Thanks for your comments. I agree:
– you need to do due diligence to understand the business and culture of Fiji before investing. There are international firms of accountants and lawyers in Fiji who have helped us with that.
– there is no substitute for spending time understanding the market
– there is both opportunity and uncertainty in Fiji right now
– over the medium and longer term investment in Fiji should pan out well (thats my opinion and why I invested)Personally I think the Australian government is a little paranoid after the Bali bombings so they are going a bit over the top in my opinion. For them it is better to be ultra cautious and make serious warnings (a rather “safe than sorry approach”). I think they have had a travel advisory for Fiji at a similar level as places like Iraq!! Hardly the same.
So thanks again..you summed it up well
“Fiji is a relatively safe place to invest currently.”Come on in the water’s fine….
Batch
Hey DLPP So when someone disagrees with you, the thread becomes spam. Please take a more mature approach.
In my very first post, I disclosed I am an investor in Vomo Island, Fiji. I have mentioned that several times in this thread.
DLPP I note you promote your own website every post.
Moderators this is a genuine thread on Fiji property investment. My first post was seeking to link up with other investors.
Also see the post from Speight who confirms my point that the media hypes the issue. Speight also flags the foreshore legislation currently under debate. This may be an issue for some however in some cases the users/lessees are already paying for access (eg to surf breaks) so some say the legislation is formalising current practises. It something I should look at in more detail I suppose.
Hi DLPP
this is precisely the kind of uninformed commentary that is so damaging to Fiji (and by way of full disclosure, investors in Fiji like myself). Sweeping generalisations and no substantive facts. References to ‘reputable sources’ yet they arent named and linked.
The one thing we do agree on. Yes please check the facts from multiple sources.
The Fiji PM dropped the ‘amnesty’ provisions of the “Unity Bill” about a week ago, but this is only now being reported in the International Media. This is the major bone of contention for the army (a possible pardon for previous coup perpetrators). Can you see the irony here. The Commodore of the Army is calling for the punishment of the 2000 coup participants. Why the heck would he then make a coup himself.
The NZ Herald 4.50pm 4 Nov reports… all is calm. PM has had assurances from the Army. http://www.nzherald.co.nz/section/story.cfm?c_id=2&objectid=10409175
Please also go to http://www.fijitimes.com.fj the Fiji major newspaper. It reports no such military action, no one is taking over the ports. This is rudiculous and very damaging for Fiji.
or try http://www.fijilive.com
It is so easy for the public to be misled by the media.
For example I was in Fiji on 13 January 2006 when ‘tensions’ surfaced between the Fiji Prime Minister and the Commodore (Head) of the Army. The following day the Fiji Times front page carried a picture of the Commodore speaking on a mobile phone, taken the evening before at the side of the pitch of a rugby training. He was smiling and the headline read something like… “Stay calm say PM & Army”. The story gave the impression that there was hardly about to be a coup if the Commodore was out at training.
In contrast on the same morning the NZ Herald ran a story titled something like “Coup Fears In Fiji” and showed a picture of the Commodore in full military uniform looking over his shoulder as he dashed out a door with a very concerned look on his face. The photo was a stock image (ie not taken in context). Indeed the headline and the photo together read like a coup was imminent. It wasnt. It isnt.
That day the NZ TV was running video of the 2000 Coup with soldiers in fatigues carrying machine guns. Yet the voiceover DID NOT make the point that the images were 6 years old as the presenter read “coup imminent” type headlines.
When the rumours are found to be untrue and the imfammatory headlines found empty then the ‘good new’ update is on about page 26, has no photo and is a small paragraph. Good news is no news. Most people miss it.
Can you see where Im coming from.
I am self interested, yes Im an investor in Fiji. However I also feel deeply for the welfare of the Fijian people and this kind of distortion is very damaging to them and the local economy.
Let me give you another context. When there is hot debate in say NZ or Australia. When an opposition MP demands the resignation of the Government, no one thinks that there is going to be a coup.
So please dont just read or see one story and form an opinion. Please keep an open mind and take a balanced view.
Im confident that these internal politics will work themselves out peacefully.
DLPP, thanks for your comments. Im not trying to mislead anyone here and Im sure you arent either. My point is that its easy to be misled by the media (even the so called reputable media).
thanks Batch
Originally posted by DLPP:International news is again carrying stories of tension between the Government and the Army. These reports are often greatly exagerated to make headlines and sell papers. The sentiment on the ground remains that this is simply part of their process (a venting of frustrations if you will) and that it will smooth out over time.Hi batch – the investment you are promoting may be a good one but I can’t let that comment go without some clarification for those who perhaps are not aware.
actually everyone here obviously has the net so they can just have a look at any reputable news web site an do there own investigation.
I hope the military decides not the overthrown the current democratically elected government but if it does happens the best we can hope for is the minimal loss of life. As recently as this morning nz news agencies were reporting armed military forces taking control of civilian ports.
Let hope it is all resolved.
Investing in Fiji is definately for the long term and for those who perhaps are seeking a higher return for part of their portfolio. With higher returns there is of course a higher risk profile. Many investors into Fiji are also doing it for lifestyle as well as investment return.
Then again there are plenty of examples of investments in say apartments in Auckland or property on the Gold Coast that have not turned out well for investors.
Bottom line is location and know who you are dealing with.
Investing in Fiji takes time and you have to be patient.
However Im confident it will pay off as it did for the Denarau investors.
International news is again carrying stories of tension between the Government and the Army. These reports are often greatly exagerated to make headlines and sell papers. The sentiment on the ground remains that this is simply part of their process (a venting of frustrations if you will) and that it will smooth out over time.
Check out http://www.vomovillas.com for more information on investing at Vomo if you have interest.
good luck…
Batch
