French Polynesia's president Edouard Fritch says plans to meet potential tourism investors from the United Arab Emirates fell over.
Photo: Presidence Polynesie francaise
Mr Fritch made the disclosure on television after a former president Gaston Flosse announced he signed an agreement with Abu Dhabi company Al Manhal prepared to invest billions of dollars in Tahiti, including in the Mahana Beach project.
Mr Fritch says he arranged for his deputy to meet Africa-based representatives of the company in Paris but that they could not get visas for France.
He says the investor is a bank and a meeting would have been needed to discuss lending terms.
The multi-billion dollar Mahana Beach project was launched by Flosse after his 2013 election victory as the South Pacific's biggest tourism venture ever but has since been downgraded.
Flosse says Al Manhal will sign a contract with the government once his Tahoeraa Huiraatira Party has regained power in this year's election.
Mr Fritch has dismissed the claim, describing it as unlikely it would prefer dealing with a convict like Flosse.
Flosse lost office because of a corruption conviction four years ago, but hopes to be eligible to stand again this year.