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This blog is brought to you by Gilbert & Samuels Company Limited, a financial advisory services and consulting company based in Suva, Fiji.
To contact the authors of this blog, please call telephones (679) 3342719, (679) 3544897 or e-mail info@gilbert.com.fj.


Monday, October 23, 2006

Recipients of remittances urged to use them wisely

The Fiji Chamber of Commerce has urged recipients of remittances to use the money wisely. Remittances are funds sent by Fiji residents or former residents working or living abroad. Remittances now contribute about 7% of Fiji's Gross Domestic Product.

The Chamber referred to Tonga and Samoa where remittances contributed 40% and 30% of GDP respectives and where people relied of their relatives overseas to pay for utility bills.

The Chamber said that Fiji should take steps to avoid such a trend and should now educate and build the capacity of recipients of remittances to invest their money in income-generating activity.

Note from GV : Remittances from Fiji residents or former residents working or living abroad is expected to top F$500 million this year. Our company, Gilbert & Samuels Company Limited, provides investment and business advisory services which can be of benefit to recipients of such remittances. To contact us for advice, you can e-mail gilbert@connect.com.fj or call telephones +679 3396427 or +679 9921427.

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