9 March 2015

PSDI Newsroom

3 March 2015

ADB Co-Hosts 4th Pacific Business Registries Workshop 

SYDNEY, AUSTRALIA — Senior government officials from 10 Pacific island nations, development partners and experts in private sector development gathered today at Asian Development Bank (ADB)’s office in Sydney to share their knowledge and report on progress made in the region’s expanding business registration sector. The 4th Pacific Business Registries Workshop, a 2-day event co-hosted by ADB and the New Zealand Companies Office (NZCO), will again be moderated by advisors from the Pacific Private Sector Development Initiative (PSDI). The PSDI has been helping Pacific island governments improve their business climates through company law reforms and online business registries, in partnership with NZCO.

26 February 2015

ADB Deepens Fiji Partnership with Assistance on Access to Credit

SUVA, FIJI  – The Asian Development Bank (ADB) is deepening its re-engagement with Fiji, partnering with the government to improve access to credit and to secure a stronger financial sector through secured transactions reform. Following meetings in January with Fiji’s Attorney-General and Minister for Finance Mr. Aiyaz Sayed-Khaiyum, ADB will assist the new Secured Transactions Reform Taskforce which held its inaugural meeting here today. The taskforce, which ADB will assist, brings together representatives from banks, credit unions, microfinance institutions, community groups and government agencies and will be chaired by the Governor of the Reserve Bank of Fiji, Barry Whiteside. It will provide government with a roadmap to implement secured transactions through new laws and the establishment of public online registries.

2 December 2014

Tonga’s Innovative Online Business Registry Goes Live – ADB

NUKUʻALOFA, TONGA – The Government of the Kingdom of Tonga launched the region’s first integrated online business registry today, providing up-to-date information on Tongan companies and businesses to the public 24 hours-a-day, 7 days-a-week. The site was launched by Mrs. Vaimoana Fakatulolo, CEO of Tonga’s Ministry of Commerce, Tourism & Labour, at a ceremony attended by representatives of the private sector and supporting development partners including the Asian Development Bank (ADB) and the governments of Australia and New Zealand. The new website, now live at www.businessregistries.gov.to, allows users to file and access company records, business names and business licenses all from the one integrated resource, from wherever there is internet access.



20 November 2014

Unlocking the value of movable assets is key to Pacific prosperity—ADB report

KOROR, PALAU (20 November 2014) – Unlocking the value of “movable property” through legal reform and public online registries is key to removing constraints to economic growth and access to finance in developing Pacific island economies, says a new report launched here today by the Pacific Private Sector Development Initiative (PSDI).


18 November 2014

Vanuatu Directors Workshop to Boost SOE Governance and Performance

PORT VILA, VANUATU  – The directors of Vanuatu’s state-owned enterprises (SOEs) are participating in an intensive two-day training workshop starting today in an effort to boost the sector’s governance and performance. “SOE reform is vital for Vanuatu’s economic future, and director training is a key catalyst for reform,” said Andrea Iffland, Regional Director of ADB’s Pacific Liaison and Coordination Office in Sydney. “Reform will improve basic service delivery, reduce the costs of doing business, and create opportunities for private investment.”


6 November 2014

ADB Supports Secured Transactions Reform in Timor-Leste

DILI, TIMOR-LESTE – Citizens of Timor-Leste may soon have access to business loans from commercial banks using moveable assets as collateral, as a result of an initiative cofinanced by the Asian Development Bank (ADB). Participants at an ADB-supported consultation meeting were told today that the Government of Timor-Leste is proposing to introduce secured transactions reforms to promote broader access to finance and improve the enabling environment for business in the country.

23 October 2014

Stronger Private Sector ties can boost SOE performance in PNG - ADB

PORT MORESBY, PAPUA NEW GUINEA – Engaging the private sector through public-private partnerships and privatization can improve the performance and service delivery of state-owned enterprises (SOEs), according to a new Asian Development Bank (ADB) report

15 October 2014

ADB and Vanuatu to Support Private Sector with Online Registries 

PORT VILA, VANUATU  – After working together to achieve business law reform, the Asian Development Bank (ADB) and Vanuatu’s financial services regulator have agreed to build online business registries that will lower costs, boost transparency, and make joining the formal sector much easier for local businesses and entrepreneurs.

22 Sep 2014

New ADB Report Urges Reform of Vanuatu’s Flagging State-Owned Enterprises

PORT VILA, VANUATU  – Vanuatu’s policymakers and private sector representatives will learn this week how a broad-based state-owned enterprise (SOE) reform program is crucial to improving the poor performance and service delivery of the country’s SOEs. It is one of the key findings of a new Asian Development Bank (ADB) report, Finding Balance 2014: Benchmarking the Performance of State-Owned Enterprises in Island Countries, to be presented in Port Vila this week as ADB continues to work with the Government of Vanuatu to reform the country’s SOEs...

8 September 2014

ADB Welcomes New Public–Private Partnership Act in PNG

PORT MORESBY, PAPUA NEW GUINEA –The Asian Development Bank (ADB) has welcomed a new law making it easier to develop and implement public–private partnerships (PPPs) in Papua New Guinea (PNG). The Public–Private Partnership Act was passed by National Parliament of PNG early this month by a unanimous vote of 67-0.

ADB Vice-President Visits PNG To Discuss Private Sector Operations

PORT MORESBY, PAPUA NEW GUINEA – Asian Development Bank (ADB) Vice-President Lakshmi Venkatachalam arrived today in Port Moresby, Papua New Guinea (PNG), where she will meet with senior government officials for discussions on ADB’s support for private sector development in PNG.

30 August 2014

Private Sector Engagement Boosts Performance of State-Owned Enterprises – ADB

APIA, SAMOA – Engaging the private sector through public-private partnerships and privatization improves the performance and service delivery of state-owned enterprises (SOEs), according to a new report by the Pacific Private Sector Development Initiative (PSDI), Finding Balance 2014: Benchmarking the Performance of State-Owned Enterprises in Island Countries. It was launched by ADB Vice-President Stephen Groff in Apia, Samoa, ahead of the Third International Conference on Small Island Developing States, which opens tomorrow.

21 August 2014 

ADB Welcomes New Business Registration Law in Solomon Islands

HONIARA, SOLOMON ISLANDS – The Asian Development Bank (ADB) has welcomed a new law making it easier to register businesses in the Solomon Islands. ADB provided policy guidance and support in drafting of the legislation which is part of wider reforms to regulatory frameworks for businesses in the Pacific. “The new law will improve and streamline the business name registration process which will encourage more people to start up and register their small businesses,” said Andrea Iffland, Regional Director of ADB’s Pacific Liaison and Coordination Office in Australia.

21 July 2014

ADB/PSDI and Nationwide Microbank Support Women’s Business Skills in Fishing Villages

PORT MORESBY, PAPUA NEW GUINEA – PNG’s Nationwide Microbank (NWB) and the Asian Development Bank’s (ADB) Pacific Private Sector Development Initiative (PSDI) have agreed to join forces to assist women in two small fishing villages to gain entrepreneurial skills and take their produce to market. The partnership was forged in a memorandum of understanding signed this week to support a new PSDI pilot project, empowering women in fishing production by strengthening the supply chain...

30 June 2014

Making It Easier to Do Business in the Pacific

HONIARA, SOLOMON ISLANDS – An ADB-supported project is easing business procedures in Pacific island countries following a successful pilot program in the Solomon Islands. Not long ago, registering a new company in Solomon Islands was a torturous bureaucratic process that often took months. Aloysio Ma’ahanao, an accountant who has helped his clients register new companies, remembers those times well.

30 May 2014

FEATURE: Women in the Solomon Islands Train to Become Solar Entrepreneurs

HONIARA, SOLOMON ISLANDS – An ADB-supported pilot project in the Solomon Islands is training women to become solar technicians and entrepreneurs. In the Solomon Islands capital of Honiara, 19 enthusiastic entrepreneurs, 12 of them women, are receiving hands-on solar maintenance training. The 2-day workshop is part of a pilot project in the Pacific that encourages women to explore alternative livelihood opportunities. Participants in the first training session were selected in consultation with community members who emphasized the importance of including both men and women in the training activities.
SYDNEY, AUSTRALIA – Media industry professionals, publishers, proprietors, editors, and journalists from across the Pacific are gathering in Sydney today for the inaugural Asian Development Bank (ADB) Pacific Business Media Summit. Senior media from eight Pacific countries are attending, including representatives from Fiji TV, Fiji Times,Matangi Tonga, Solomon Star, Talamu Media Samoa, Papua New Guinea (PNG) National Broadcasting Corporation, Pacific Islands News Association, Asia Pacific Journalism Centre, Pacific Media Centre, and the Australian Broadcasting Corporation.

25 February 2014

PNG Business Survey Says Law and Order, Corruption Still Biggest Challenges

PORT MORESBY, PAPUA NEW GUINEA – Despite improvements in the business environment over the last decade, law and order and corruption remain the most severe constraints to doing business in Papua New Guinea (PNG), new analysis from the Asian Development Bank (ADB) reveals. The analysis was undertaken by ADB’s Pacific Private Sector Development Initiative (PSDI) and is captured in a new joint ADB/INA publication, The Challenges of Doing Business in Papua New Guinea, to be released today in the capital Port Moresby.

2013

19 November 2013 -- Pacific Experts Gather to Share Branchless Banking Insights

SYDNEY, AUSTRALIA – Pacific Central Banks won praise for their approach to mobile banking at the first-ever Pacific Branchless Banking Seminar, hosted earlier this month by ADB Sydney and sponsored by the Pacific Private Sector Development Initiative. As the take-up of mobile phones in the Pacific drives a revolution in financial inclusion, senior executives from six Pacific Central Banks were joined in Sydney by financial service providers, mobile network operators and technology providers from all over the region.

16 October 2013 -- Consultations on Business Name Registration in Solomon Islands Kick Off

HONIARA, SOLOMON ISLANDS – Consultations begin today in Solomon Islands as part of the review of the Registration of Business Names Bill. The joint review by the Solomon Islands Government and the Asian Development Bank (ADB) aims to modernize and improve the business name registration procedure in Solomon Islands. 

18 September 2013 -- Company Law Reforms in Vanuatu Will Boost Ease of Doing Business - ADB

PORT VILA, VANUATU – Vanuatu’s new Companies (Insolvency and Receivership) Act and Insolvency (Cross Border) Act, in combination with the 2012 Companies Act, will make it easier for local people to conduct business. The Asian Development Bank (ADB) supported drafting of the legislation through the Pacific Private Sector Development Initiative (PSDI). “These ADB-assisted business...

5 June 2013 -- ADB Supports Streamlined Customs and Excise Service in Solomon Islands

HONIARA, SOLOMON ISLANDS – Consultations began yesterday in Honiara on an updated Customs and Excise Act which will boost trade and lift the economy in the Solomon Islands. “The overall reform of customs is essential to the Solomon Islands economy that relies on the flow of imports and exports,” said Hayden Everett, Solomon Islands Country Team Leader at the Asian Development Bank (ADB). “The new law will also boost the ease of conducting business in country.”

27 March 2013 -- ADB Welcomes Passage of Personal Property Securities Act in Samoa

APIA, SAMOA – The Asian Development Bank (ADB) welcomes the passage yesterday of the Personal Property Securities Act, which will make it easier for people and businesses to secure loans, obtain credit, and conduct business. ADB supported the drafting of the legislation, which was prepared following extensive local consultations in the capital, Apia, and other districts.

11 March 2013 -- FEATURE: Online Registries Critical to Pacific Private Sector Development

AUCKLAND, NEW ZEALAND – Developing and reforming online/electronic business registries in the Pacific Islands is essential if the region wants to build a vibrant, efficient private sector, delegates said at a workshop jointly organized by the Asian Development Bank (ADB) and the New Zealand Companies Office.

18 February 2013 -- Companies Registry Goes Online in Samoa

APIA, SAMOA – A new online Companies Registry, which was funded by ADB and will improve efficiency of business processes in Samoa, will be launched today by the Ministry of Commerce.


22 January 2013 -- A new system for business loans in Palau --  ABC Radio Australia


2012

5 September 2012 -- Private Sector Reforms in Pacific Assist Women, Update Business Laws, Boost Access to Finance - ADB Report

SYDNEY, AUSTRALIA - Efforts by the Asian Development Bank (ADB) and the Australian Agency for International Development (AusAID) to promote the private sector in the Pacific through the co-financed private sector development initiative (PSDI) have boosted the ease of doing business in the region by modernizing outdated business laws, improving access to financial services, enhancing economic...

24 July 2012 -- Private Sector Reforms Can Boost Development in Pacific - ADB Report

MANILA, PHILIPPINES – Reforming state-owned enterprises (SOEs) and improving the business environment and women’s economic empowerment are critical to building a vibrant private sector in the Pacific region, according to the latest edition of the Asian Development Bank’s (ADB) Pacific Economic Monitor. “Building the private sector is key to ensuring that growth in the Pacific is inclusive,” said Xianbin Yao, Director General of the ADB’s Pacific Department. “By removing barriers and building the right conditions, Pacific policy makers can help develop a strong and dynamic private sector.”


2011

1 September 2011 -- ADB, AusAID Pacific Private Sector Initiative Assists Women, Business Environment

SYDNEY, AUSTRALIA – Efforts by the Asian Development Bank (ADB) and the Australian Agency for International Development (AusAID) to promote the private sector in the Pacific Islands have improved the environment for doing business and enhanced opportunities for women, says a new report by ADB. Since its establishment in 2006, the Pacific Private Sector Development Initiative (PSDI) has focused on improving access to financial services, updating business laws, and upgrading the delivery of services by helping state-owned enterprises (SOEs) become more efficient, according to the latest PSDI Annual Progress Report.


2008

29 July 2008 -- ADB Triples Private Sector Development Operations in the Pacific

[...] This expansion has been largely enabled by the Pacific Private Sector Development Initiative (PSDI), cofinanced by the Australian Agency for International Development (AusAID), which provides an innovative mechanism to rapidly respond to reform opportunities in the Pacific Islands, as well as to strengthen analysis and reform advocacy, and foster dialogue between private and [...]