Pacific Private Sector Development Initiative (Asian Development Bank)

The Pacific Tourism Organisation (SPTO) now has a new Strategic Plan 2025-2029, developed with support from PSDI. The plan was endorsed by the SPTO board and launched at a press event during the SPTO board and council of ministers meetings in Fiji last week. PSDI also last week held a workshop as part of a development partner high-level dialogue at the Pacific Island Forum Secretariat. The workshop brought together representatives from SPTO leadership and development partner organizations to discuss regional tourism priorities, opportunities for closer partnership, and strengthening coordination to advance responsible tourism in the context of the new plan. The dialogue also included a presentation on the Strategic Plan by the SPTO’s CEO followed by a panel discussion, where development partners, Pacific ministers of tourism, and representatives from Pacific national tourism organizations discussed tourism as a driver for development and their experiences of engaging with SPTO and the tourism sector. 📷: Pacific Tourism Organisation. Read more: https://lnkd.in/gsQdu9aV

Women's Talanoa for gender equality in tourism. PSDI and the Pacific Tourism Organization last week hosted the inaugural Pacific Talanoa for Women in Tourism in Suva, Fiji. The Talanoa was designed to provide a platform for regional tourism leaders to share, plan, and coordinate gender mainstreaming efforts, and for PSDI to share the findings of its recent gender audit, undertaken with ten SPTO member organizations, including the SPTO. Read more: https://lnkd.in/gkTFJ36Z

PSDI presents at 2024 PIIF Investment Forum in the Cook Islands   PSDI last week attended the 2024 Pacific Islands Investment Forum in Rarotonga, Cook Islands, joining leaders of investment funds across the Pacific to discuss pathways to strengthen investment practices and facilitate collaboration among member funds and partners.   PSDI’s Senior Finance Sector Specialist, Jeremy Cleaver, presented on PSDI’s support for PIIF, which includes work to strengthen PIIF’s operational and investment policies and governance framework, and ongoing support to PIIF and individual funds for capacity building with regard to their environmental, social, and governance (ESG) objectives, as well as the development of an Environmental and Social Management System.   PSDI thanks PIIF for the opportunity to participate in this important forum and looks forward to continuing to work with PIIF to strengthen investment and retirement outcomes across the Pacific.

🇵🇬 PSDI in PNG: Promoting a Stronger, More Inclusive Business Environment PSDI is working in PNG to increase access to finance, strengthen SOEs and improve service delivery, create locally tailored business laws, promote competition, advance gender equality in business, and support tourism planning. Through initiatives such as supporting capital markets reform, delivering women’s business leadership programs, and increasing capacity at PNG’s Investment Promotion Authority, PSDI works to support a strong and more inclusive business environment. Read more about PSDI’s work in PNG in the new 2024 Country Overview:

PSDI Supports Stronger Consumer Protection in Tonga PSDI supported the Ministry of Trade and Economic Development (MTED) to hold consultations in Vava’u, Tonga in September 2024. The consultations brought together representatives from local businesses, the island government, and the Government of Tonga, to discuss strengthening Tonga’s consumer protection framework. Read more: https://lnkd.in/gBRkYVXt

🇻🇺 PSDI and DWA host workshop in Port Vila, Vanuatu to support Women's Economic Empowerment National Action Plan “Yumi must work together. If we’re really serious about helping women in business we are going to have to step out of our silos and work together,” said participants at a workshop in Vanuatu yesterday to launch a new report and discuss PSDI’s recent research. The event, hosted by the Ministry of Justice and Community Service, Department of Women’s Affairs (DWA) in partnership with PSDI, convened a crowd of Vanuatu’s government, business, and civil society representatives, to discuss the findings of PSDI’s new Leadership Matters report and research on women’s participation in the private sector. Read more: https://lnkd.in/gmCKgST3

PSDI’s Financing Growth team was in Fiji last week, supporting the Ministry of Trade, Co-operatives, Small and Medium Enterprises (MTCSME) and the Reserve Bank of Fiji (RBF) to respond to questions from Fiji’s Parliamentary Standing Committee on Economic Affairs regarding the proposed Access to Business Funding Bill. PSDI is supporting the development and passage of the bill, which aims to improve access to capital for small and medium-sized enterprises by removing the existing regulatory obstacles that limit financing options for SMEs and establishing a framework that supports the introduction of new and innovative financing mechanisms, such as crowdfunding, peer-to-peer lending, and small offers regimes. The bill also prioritizes investor protections. Find out more about the Access to Business Funding Bill: https://lnkd.in/gEjns-gk Read PSDI’s policy paper on Innovative Financing Mechanisms: https://lnkd.in/gssf84yZ 📷: Representatives from MTCSME, RBF, and PSDI address the Parliamentary Standing Committee. L-R: Hon. Naisa Tuinaceva (Standing Committee Member); Caroline Waqabaca (Acting Deputy Governor Reserve Bank of Fiji); Hon. Sakiusa Tubuna (Standing Committee Chair); Jeremy Cleaver (Finance Sector Specialist, PSDI); Hon. Premila Kumar (Standing Committee member); Phinaisi Liao (Principal Business Advisory Officer, Ministry of Trade, Co-operatives and SMEs); and Eserani Munivai (Acting Manager Reserve Bank of Fiji).

🇸🇧 Leadership Matters 2024 launched in Solomon Islands! PSDI last week held a launch in Solomon Islands for the recent publication “Leadership Matters 2024: Benchmarking Women in Business Leadership in the Pacific.” The event, co-hosted by PSDI and Women in Executive Leadership Solomon Islands (WELSI), brought together leaders from government, business, and civil society to discuss strategies driving progress in women’s leadership in Solomon Islands and the barriers that still need to be tackled. The event was also the launch of WELSI, a joint initiative between Solomon Islands Chamber of Commerce & Industry, Solomon Island Women in Business Association-SIWIBA, and the Institute of Solomon Islands Accountants. Read more here: https://lnkd.in/gYwudqmV Read the “Leadership Matters 2024” report here: https://lnkd.in/gQbWggrF

🇫🇯 PSDI in Fiji: Promoting a Stronger, More Inclusive Business Environment PSDI is working in Fiji to increase access to finance, strengthen SOEs and improve service delivery, promote competition, advance gender equality in business, and support tourism planning. Through initiatives such as those promoting alternative financing mechanisms, increasing capacity at the Fiji Competition and Consumer Commission, and promoting women in business leadership, PSDI works to support a stronger and more inclusive business environment. Read more about PSDI’s work in Fiji in the new 2024 Country Overview: https://lnkd.in/gB9FVYRK

📢 Cook Islands Launches New International Business Registry to Strengthen AML/CFT Compliance The Cook Islands Financial Supervisory Commission (FSC) has launched a secure and state-of-the-art registry for international entities, developed by the Asian Development Bank’s Pacific Private Sector Development Initiative (PSDI), with support from the Government of Australia. Learn more: https://lnkd.in/gnq_TD-A