Results for Business

The Tonga government’s financial assistance to businesses impacted by COVID-19 is continuing with support from donor partners.

The price of petrol has increased while kerosene and diesel prices have decreased starting today, 18 May, approved by the Tonga Competent Authority.

Eighteen technicians will be flown to Tonga on a chartered flight to install the new telecommunications system in the Tonga Broadcasting Commission’s new building in Nuku'alofa, and to construct an antenna at Niuafo‘ou, in order to to complete a Nationwide Early Warning System (NEWS) and Strengthening Disaster Communications project, supported by the Government of Japan.

A “worse-than-expected outcome” for Tonga's GDP in the fiscal years 2019-20 and 2020-21 was forecast by the National Reserve Bank of Tonga, following its first board meeting for the year. During the COVID-19 international crisis Tonga's annual inflation has increased and agricultural exports have fallen. Bank lending decreased, while deposits increased.

A training series on Power Purchase Agreements for a Pacific Energy Regulators Alliance was launched by the Asian Development Bank on April 14.

King Tupou VI and Queen Nanasipau’u launched the ‘Api-ko-Fatai cluster farming initiative for the communities of Feletoa and Mataika in Vava’u on March 18.

Further increases in the price of petrol, kerosene, diesel and LPG have been approved by the Tonga Competent Authority (TCA) starting on 18 March.

The completion of major electricity grid upgrades in two out of five areas under the Nuku'alofa Network Upgrade Project, were marked with an official celebration at the FWC Saione field at Kolomotu’a yesterday, 25 February. The project aims to provide Tongans with safer, reliable, and more resilient power.

An environmental study on seabed mining for “polymetallic nodules” - rocks that contain metals needed to build batteries, is underway in the Clarion Clipperton Zone (CCZ) of the Pacific between Hawaii and Mexico. The aim is to use the metals to power electric cars. The study is being undertaken by DeepGreen Metals Inc., a Canadian-based seafloor mining developer, which acquired Tonga Offshore Mining Limited (TOML) last year, and has sponsorship from the Tonga government for seabed exploration. By Eleanor Gee.