Results for Business

A new Foreign Exchange Control Act 2018 that gives the National Reserve Bank of Tonga sweeping powers to selectively stop Tongan residents from investing offshore and from holding overseas bank accounts, property and other offshore assets, is not currently being enforced. The Governor of the National Reserve Bank of Tonga, Dr Ngongo Kioa, said today that the new Act awaits regulations and directives from Crown Law.

Running a business in Tonga is a struggle, but persistence is a key to survival, agreed three New Zealand-Tongan business owners at a breakfast panel organized by the New Zealand Tonga Business Council at the Tanoa Hotel, today Friday, August 31. They noted that the voice of the private sector has weakened over the years.

Setitaia Pasivaka Chen has been appointed as the Acting Chief Executive Officer for Tonga Power Ltd, starting on August 1.

Tonga’s official foreign reserve continued to grow as the National Reserve Bank of Tonga recorded an increase of $26.8 million for the month of June. The reserves rose to $468.7 million, equivalent to 8.1 months of imports.

Winners of a cooking competition for student chefs from ‘Ahopanilolo Technical College, will be announced at Tongatapu’s Royal Agriculture, Fisheries and Tonga-Made Show on Saturday, July 28.

Dr Viliami Fakava has relocated to the Food and Agriculture Organization (FAO) Regional Office for Europe and Central Asia in Budapest, Hungary.

A colourful new logo for the Tonga Communication Corporation (TCC) was launched by Dr Saia Piukala, Minister for Public Enterprises and Tapu Panuve, Chairman of the TCC Board of Directors recently.

Molisi Kilisimasi (31) is the champion of a Toyota Tsusho South Pacific Service Advisor Award, which takes him to Japan later this year.

Trade challenges in the Pacific region, including Tonga, will be looked at by the World Trade Organization (WTO) at the Asian-Pacific Economic Cooperation (APEC) meeting this week, in Port Moresby, Papua New Guinea, 25-26 May. WTO Director General, Roberto Azevedo, expresses an opinion that more can be done to support economic growth and development in Tonga and across the Pacific. UPDATED.