There needs to be a thorough background check when Foreign Investors come to our country was one of the Issues raised during the Ministry of Lands and Mineral Resources Submission in Parliament yesterday.
The Lands Ministry Submitted on their Audit Report on the Management of the Land Reform Program to the Standing Committee on Public Accounts.
When asked by Committee member-Ratu Naiqama Lalabalavu as to why they still rely on MOUs, Investment Fiji and TLTB-you as a leasing agency now you have a standard operations Procedures as the interest of all needs to be protected especially when you have companies coming from abroad there needs to be a thorough check.
“For big side development and investors and why we liaise with Investment Fiji because that’s where the first door of entry for Investors when they come to register so that they can check on their financials. For TLTB because that’s for the I-taukei land that’s given to the land bank so they need to get a check from TLTB whether the land is free and available, and this is why we still revert to TLTB because they have the proper records”
Finau said it was a good suggestion where they need to tighten up on the background checks for Foreign Investors that they do for the land that is to be designated.