Results for Business

Afu‘alo Matoto has taken over the leadership role of the TDB at a time when the Bank is expected to play a major role in reviving the Tongan economy, by providing capital for the development of the agricultural, fisheries and tourism industries - areas that urgently need development to pull the country out of its current economic recession. But he says Tonga needs to first resolve its leadership crisis: “We need to crystallise our position and to take action.” By Pesi Fonua. Matangi Tonga Magazine Vol. 14, no. 1, January 1999.

Pousima Afeaki started exporting in 1995 with one container of assorted produce…and by 1997 it had jumped to 65 containers. He is one of a handful of hard working Tongan farmer-exporters who can see a positive future for agricultural exports from Tonga. By Pesi Fonua. Matangi Tonga Magazine Vol. 14, no. 1, January 1999.

FROM OUR ARCHIVES: A business venture in Mainland China turned into a diplomatic mission for Princess Pilolevu and her team. Tonga has severed its long-standing relationship with Taiwan and established new links with Mainland China in a diplomatic reshuffling. Tonga’s newly appointed Minister of Foreign Affairs, the King’s youngest son, Prince ‘Ulukalala Lavaka-Ata, flew to Beijing and signed a joint communiqué on October 26, which declared that: “the Kingdom of Tonga recognises that the Government of the People’s Republic of China is the sole legal government representing the whole of China and, that Taiwan is an inalienable part of the Chinese Territory.” By Pesi Fonua. Matangi Tonga Magazine Vol. 14, no. 3, December 1998.

A $10m EU project is creating a viable business environment in Tonga’s yachting centre. Matangi Tonga Magazine Vol. 13, no. 4, December 1998.

Buying locally-made goods creates jobs and keeps the pa‘anga in Tonga. From Matangi Tonga Magazine Vol. 13, no. 4, December 1998.

A $6 million Agricultural Development Program for the two Niuas and ‘Eua is underway to help growers in outlying rural communities. From Matangi Tonga Magazine Vol. 13, no. 4, December 1998.

Tonga’s biggest hotels face closure before the year 2000. The Pacific Royale Hotel, the International Date­line Hotel, the Friendly Islander Motel and the Royal Sunset Resort are fighting an up-hill battle to keep their doors open, and to remain in business. From Matangi Tonga Magazine Vol. 13, no. 4, December 1998.

Introducing a new Malaysian building material to Tonga—asbestos free cement—were Lee Chong Poh and James Tang, of the UAC Berhard, of Kuala Lumpur, Malaysia. It was their first visit to Tonga. Matangi Tonga Magazine Vol. 13, no. 4, December 1998.

The value of the Tongan pa‘anga has continued to drop against the currencies of Tonga’s major trading partners during the past eight months.