Results for Business

Five long-line fishing boats will join Tonga’s fleet of 27 long-line boats in early 2003. From Matangi Tonga Magazine Vol. 18, no. 1, March 2003.

Is Tonga ready to become a member of the World Trade Organisation? The Tongan Minister responsible for Trade, Hon. Dr Masaso Paunga, is confident that Tonga has done all the right things by signing the appropriate international conventions, and free trade agreements, and that Tonga is now ready to become a member of the WTO sometime next year. From Matangi Tonga Magazine Vol. 17, no. 3, November 2002.

What will be critical for insurance costs in Tonga and every other island in the Pacific is this year’s cyclone season, said Gary Callaghan, the executive director of Dominion Insurance, of Fiji, who visited Tonga in October. From Matangi Tonga Magazine Vol. 17, no. 3, November 2002.

The latest developments in Tonga’s banking business saw the amendment of the Tonga Development Bank Act on September 5, affirming the right of the TDB to continue providing commercial banking activities in the Niuas, and to expand these services to other remote rural areas. From Matangi Tonga Magazine Vol. 17, no. 3, November 2002.

Tens of millions of pa‘anga in government expenditure that used to be disregarded in the annual Budget estimates, have this year been incorporated into the figures—beefing it up to $112 million in operational costs. This is a new approach by a new Finance Minister, Siosiua ‘Utoikamanu, to make government operations more “transparent”. From Matangi Tonga Magazine Vol. 17, no. 2, August 2002.

When a new mobile phone provider, Tonfön (Shoreline Communications) launched its telephone service on July 31, Tonga became the only Pacific island country to allow two competing telecommunications companies. From Matangi Tonga Magazine Vol. 17, no. 2, August 2002.

The Informal sector of the Tongan business community is the biggest enemy of the struggling Tongan economy, believes the Vava’u no. 1 People’s Representative, Trevor Guttenbeil. From Matangi Tonga Magazine Vol. 17, no. 2, August 2002.

Tonga’s 28 year old Bank of Tonga was renamed Westpac-Bank of Tonga after the Tongan Parliament amended the Bank of Tonga Act on July 15. From Matangi Tonga Magazine Vol. 17, no. 2, August 2002.

The quarry business, particularly on Tongatapu, is a thriving but very competitive business according to Sione Tafolo of the Fasi‘apule Holding Ltd. who says that it is an on-going task for people who live in the low-lying areas to keep filling up their properties. From Matangi Tonga Magazine Vol. 17, no. 2, August 2002.