21 Oct 2009

NZ foreign minister praises business support scheme for Tonga

5:04 pm on 21 October 2009

The New Zealand Foreign Minister, Murray McCully, has welcomed the establishment of the Business Opportunity Support Scheme in Tonga, which aims to encourage commercial investment and increase earnings from exports and tourism.

Mr McCully says encouraging the development of Tonga's private sector will help create the economic growth required to lift more people out of poverty.

The Minister says the scheme is a joint initiative by the private sector and the New Zealand and Tongan governments and is a practical example of his government's commitment to strengthening trade and economic growth in the Pacific.

Mr McCully says it will help Tongan and New Zealand firms making significant investment decisions, and support business links between our two countries.

He says the scheme will provide grants of up to 23,000 US dollars to help investors carry out feasibility studies focusing on the export-related, import substitution, and tourism sectors.