18 Jun 2012

Samoa forging ahead with plans to develop a financial trading centre

10:45 am on 18 June 2012

Samoa's Finance Minister, Faumuina Tiatia Liuga, has told Parliament that over 100 overseas companies have indicated they will register with the country's planned new stock exchange.

And he says at least one local company will be listed when the centre becomes operational.

The Samoa International Finance Authority will also play a major role in the venture.

Faumuina says the stock exchange will encompass ventures in energy development, tourism and hotels, information technology, banking, airports, ports and shipping.

The minister says immediate benefits from the financial centre for the local economy, include huge foreign investment, job creation, corporate tourism and infrastructure development in partnership with the private sector.