26 May 2006

Samoa promotes Offshore Finance center in Asia

8:19 am on 26 May 2006

The Samoan government has given the green light to promote its Offshore Finance Center in Singapore and Hong Kong.

The Cabinet's decision has coincided with a visit by Samoa's new Minister of Finance Niko Lee Hang.

A government statement says the reasons for the proposed promotional efforts is to assure the investors of Samoa' s commitment in continuing to operate the country's Offshore Finance Center.

And, there is also the need to entice foreign investors to Samoa and to assure them of the safety of their investment in a credible and legitimate jurisdiction.

The Finance Minister's promotional visit is accompanied by the Attorney General, Governor of the Central Bank, the chief executive for the Samoa International Finance Authority and a Board of Directors from the private sector.