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Working Together Attracts Private Sector, Grows Economy

Working Together Attracts Private Sector, Grows Economy
COP 23 President Frank Bainimarama shares a light moment with the Attorney General Aiyaz Sayed-Khaiyum during Climate Action Pacific Partnership Confrence at GPH on July 26,2018. Photo:Simione Haravanua.
July 27
10:22 2018

Many Pacific Island countries do not necessarily have the economy of a scale that is able to attract private sector interest. This is why it is important for the Pacific Islands to work together to complete a task or achieve goals with each other and have cross border collaborations.

The Attorney-General and Minister Responsible for Climate Change, Aiyaz Sayed-Khaiyum, made this statement during the Climate Action Pacific Partnership (CAPP) meeting yesterday.

He said if a Pacific country was looking at  a certain initiative or project, they should not only look at their country, but they should also look at working together with other Pacific Islands countries.

Mr Sayed-Khaiyum hoped that the two-day forum would provide food for thought in that respect and enable leaders, donors and development partners to think about that.

“We need to work as a regional organisation to be able to achieve these objectives,” Mr Sayed-Khaiyum said.

The Minister Responsible for Climate Change encouraged the developing partners who donated funds to think outside the box.

“They need to be able to see donor funds or aid funds as a means to be able to collaborate with the private sector together with the Government,” he said.

“It’s also time for them to think that when they give funds they also contribute to some form of financial mechanism that will help a country or group of countries to be able to leverage funding to give rise to projects that are critical.”

He said the challenge to donors and also aid partners was to think about aid and donation as not something simply that you give to a particular project.

“But, whether we can use those funds to leverage off into some sustainable programme with the private sector participation,” he said.

“This means more cross subsidisation for the private sector organisation.”

The two-day forum at the Grand Pacific Hotel ends today.

Edited by Percy Kean



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