Fiji’s Deputy Prime Minister and Minister for Finance, Prof. Biman Prasad, officially opened the 2025 Pacific Islands Investment Forum (PIIF) CEO Workshop (7-10 April 2025) at the Sheraton Resort on Denarau Island, highlighting the power of regional financial institutions to drive transformative change.
“With over $160 billion FJD in assets under management, our regional superannuation, trust, and sovereign wealth funds have the power to drive real change across the Blue Pacific,” he said in his address to over 90 delegates from 10 countries and 15 partner institutions.
“This forum is not just about finance—it’s about our people, their future, and our shared commitment to resilience, climate action, and regional prosperity.”
Prof. Prasad acknowledged the efforts of the Fiji National Provident Fund (FNPF) in hosting the forum, praising its historic role and legacy in the Pacific.
“I am extremely proud of the FNPF – the Pacific’s oldest Provident Fund. The Party that I lead in our Government is also the Pacific’s oldest political party.”
Reflecting on the fund’s origins, he added, “The FNPF is a fund that the National Federation Party had fought long and hard with the then colonial authorities to establish to provide security for Fijians.”
Emphasising the stakes of the gathering, Prasad reminded participants of the weight of their responsibilities. “You represent 20 Superannuation, Provident, Trust, and Sovereign Wealth Funds from 12 Pacific nations. Collectively, you manage approximately FJD $160 billion in assets. These funds hold the promise and dreams of over 1.6 million Pacific people across the Blue Pacific.”
He called for the PIIF to evolve as a platform for collaboration, skill-building, and partnership. “This platform must evolve and foster learning. It must support professional development of Pacific islanders employed across these institutions. It must evolve to support long-term partnerships across the region.”
Prasad warned of increasing uncertainty in the global economy and the impact of international trade policies.
“Global markets are unsettled. Global trading environment is unsettled. The impacts on our economies of tariff conflicts will be significant.”
He urged a unified Pacific response to protect the region’s economic future. “I join the call for Pacific’s leaders to meet the US Government urgently to present the region’s special circumstances, to state the regional case for fairness on tariffs and to explore further the medium-term adjustments that we will need to make.”
In addressing the threat of climate change, Prasad was direct.
“The Blue Pacific is the world’s most vulnerable region by a long mile… They are our present – and they will be our future. We cannot wait for international solidarity and finance. That will make the task of adapting our economies even harder.”
He stressed the need to integrate sustainability and resilience into all investment decisions. “To not begin financing climate-resilient infrastructure, supporting low-carbon transitions, and embedding sustainability into our investment strategies will be the greatest own goal we will have scored.”
As the Pacific’s largest pool of investment finance, Prasad said fund managers must “accelerate climate-smart investments across the Pacific” to meet the expectations of members and civil society.
“Our primary mandate is to deliver long-term value and security to our members. The financial security of our members depends on Pacific economies becoming far more resilient – resilient to external shocks like the US tariffs, resilience to climate change and crucially resilient to political changes.”
He concluded with a call for partnership and action:
“Let’s think beyond national borders. Let’s explore opportunities to invest together—to solve regional challenges with regional solutions. Let’s find ways to amplify and build on each other’s strengths.”
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