NZ financed studies to identify investment opportunities in Tonga [1]
Wednesday, October 28, 2009 - 14:53. Updated on Wednesday, May 28, 2014 - 22:09.
An agreement for the New Zealand Government to give Tonga a TOP$250,000 granted for the establishment of a new Business Opportunity Support Scheme BOSS, was signed by the Tongan Prime Minister, Hon, Dr Feleti Sevele and the New Zealand High Commissioner HE Ms Christine Bogle on Monday, 26 October in Nuku'alofa.
The grant will enable Tongan and New Zealand companies to conduct feasibility studies on investment opportunities on Tonga's export and tourism industries.
HE Ms Christine Bogle said that the grant is available for a year and the maximum amount that can be granted to an applicant is $30,000, and a minimum of $10,000. She was optimistic that under BOSS more New Zealand businesses will invest in Tonga.
The Prime Minister, Dr Feleti Sevele thanked New Zealand for the grant, "it is therefore vital for the business sector to take advantage of the grant and it is up to them who want apply to undertake studies and who want to go to New Zealand and meet with potential investors and see the market there as well as new markets if there are."
The BOSS will be managed by the National Economic Development Council NEDC which will be responsible for approving applications for grants.
Tongan entrepreneur and Manager of Tinopai Farm Pousima Afeaki has been contracted to work with the BOSS. Pousima said that the scheme will enable businesses to have access to fund which will enable them to research and check their business ideas to make sure they are viable.
The signing ceremony was also attended by two members of the Tonga-New Zealand Business Council, Pousima Afeaki and David Edwards.