the stock market as a wealth creation opportunity, unlike in many countries where this section of the population is very actively participating in the stock market ; 3. an under developed brokerage community ; and 4. a business community apprehensive of listing for various reasons. what can be done to mitigate these challenges? it is important that the business enablers ( such as the reserve bank, commercial banks, ftib, firca and other regulatory agencies ) and the private sector players like yourselves, view the capital markets, and by extension the spse, as a mechanism for business and economic development in fiji. the reserve bank will do whatever it can to ensure the development of the capital market and will play a pivotal role in public education and investor awareness programs to foster confidence in the markets. we will also spearhead initiatives, whether with government or other agencies, which seek to develop the market and raise these issues at the political / ministerial level so that these reach successful conclusions. here, i wish to mention that following cabinet approval, reviews are currently underway to amend the capital markets and unit trusts legislation. government has offered a reduced corporate tax of 20 % to companies who list on the spse which would not only facilitate economic development but improve the governance structures of companies. so why haven ’ t more companies grasped this opportunity to grow their businesses? i hope we can discuss some of these issues today. ladies and gentlemen, today we have present in this room, investment advisers, brokers, lawyers and accountants, and also firca, who can assist you and answer your questions in relation to the capital markets and the stock exchange. we have purposely also included presentations from people and companies who have successfully utilised the capital markets to take their companies to the next level so that you all have the opportunity to hear it from the “ horse ’ s mouth ”. i urge you to use this opportunity to get the information you need and make contact with our licensed intermediaries. ladies and gentlemen, thank you very much for your time and attention and i wish you a good evening.

barry whiteside : recent developments and outlook for the fijian economy address by mr barry whiteside, governor of the reserve bank of fiji, at the asco motors appreciation luncheon, suva, 13 july 2016. * * * the chief executive officer of asco motors, mr jai kumar distinguished guests staff of asco motors ladies and gentlemen introductory comments bula vinaka and warm greetings to you all! i wish to thank mr kumar for his kind invitation. it is a pleasure to be here this afternoon to share with you some recent developments and our outlook for the fijian economy. but before i do so, i understand that this is asco motors ’ 27th year of operations under its current trading name, and that it has been 53 years since the first toyota passenger vehicle was shipped to fiji in 1963. i still have visions of those early box - like models ( and yes i do go back that far! ). i distinctively remember that it was a time when anything japanese was notably cheaper, with the connotation of being qualitatively inferior than models imported from australia and other parts of the world. this is definitely not the case now, when anything manufactured in japan seems to attract quite a high premium price! this clearly is a reflection of the drive to quality and efficiency over the years and the philosophy to be the best! akio toyoda, the chief executive officer of toyota motor corporation, famously said, “ when consumers purchase a toyota, they are not simply purchasing a car, truck or van. they are placing their trust in our company. ” today ’ s event, while labelled a customer appreciation day, can just as easily mark the many milestones achieved by asco motors over the years. the company has become an important cog in our automotive industry which, as a whole, has contributed immensely to the fijian economy and continues to play an important role towards lifting our growth potential. the fijian economy my brief indicated that i should say a few words on the fijian economy. over the past three years ( from 2013 – 2015 ) fiji has grown, on average, by 4. 7 percent. this easily exceeds the historical trend and is something i feel we should all be quite proud of, given the global trend has been moving in the opposite direction. recently we have seen fiji flourish in an environment of consistent and accommodative fiscal and monetary policies, strong credit growth, improved investor and consumer confidence and, with the return to parliamentary