The advice comes in an Asian Development Bank report through the ADB's Pacific Private Sector Development Initiative.
A lead economist with the project, Paul Holden, says the country has a model system for the private sector in many areas but more reforms are necessary to ensure the country's long-term prosperity.
"We're looking at promoting better licensing, we are strongly urging privatisation of some of the state-owned enterprises. In fact the government has committed to doing this. In general our message to countries in the region is that governments are not good at running businesses."
Paul Holden says it's much easier now to form companies in Samoa and there's good understanding between the government and business.