Results for Business

Concern over shop ownership is unfounded, says Labour Ministry. This year only 8 percent of all small retail shops registered in Tonga are owned and operated by Chinese immigrants, and they are all new Tongan nationals or married to a Tongan the Labour Ministry has confirmed. Matangi Tonga Magazine Vol. 13, no. 4, December 1998.

Tonga’s new High Temperature Forced Air Treatment machine at the Fua‘amotu Airport, could be processing tons of fruit daily for export, but it is lying idle most of the time because there is no export produce to be treated. From Matangi Tonga Magazine Vol. 13, no. 4, December 1998.

What could be the impact on Tonga of the merging of Mobile Oil and Exon? Stalini Naufahu, the president of Three Stars, a Tongan company that is the sole distributor of Mobile Oil in Tonga said, “very little in the immediate future, but the good news for Tonga is that Mobile is going to build six major distributing centres in the region, and they are awaiting for a go-ahead from the Tongan Government.” From Matangi Tonga Magazine Vol. 13, no. 4, December 1998.

Tonga's economic downturn will not be turned around until the island country finds a way to get seriously into exports as a way of life. Incentives to attract investors and motivation to make people work remain elusive goals, while waiting for a plan of action. By Pesi Fonua. From Matangi Tonga Magazine Vol. 13, no. 4, December 1998.

The Tonga Development Bank introduced a Venture Capital Scheme in 1993, but that is now on hold according to ‘Etikeni Samani, a senior assistant manager in human resource development and admini­­­­stration. From Matangi Tonga Magazine Vol. 13, no. 4, December 1998.

Tonga’s National Reserve Bank wants Tongans to cut down on overseas spending to slow the decline of the foreign reserves, and on September 14 announced new measures to restrain bank lending.