The Reserve Bank of Fiji has announced the commencement of the review by an Asian Development Bank consultant on the local value-added content requirement for a sustainable tourism industry.

The Bank said this step will help the Government achieve its national economic and development goals.

Reserve Bank Governor, Sada Reddy said over the past years, the Reserve Bank has expressed concern that the tourism industry, in particular the hotel and resorts were under utilizing local resources.

Reddy said as a result, the tourism industry had high level of imported food and goods, some of which could be supplied domestically.

He said such action results in the outflow of funds or high leakage from the industry, which cannot be sustained overtime.

The consultancy period for this review is expected to take around eight weeks.