Friday, July 01, 2005
Samoa. A Private Sector Assessment. Keeping Reform Alive
By: The Enterprise Research Institute
For: The Asian Development Bank Under: RETA 6037: Private Sector Development Strategy For The Pacific, 2003
The Samoan economy is one of the few bright spots in the Pacific region. Following reform in the mid to late 1990s, the economy has been growing at rates that have substantially exceeded other island states. Nevertheless, per capita income remains low by the standards not only of the developed world but also compared with middle income developing countries. The government is committed to maintaining growth and reducing poverty and sees higher private sector growth as a key element in achieving its goals. Recent poverty surveys also show that the poorer communities identify the development of markets, jobs and finance, as the main factors that would reduce the level of hardship in Samoa, which also implies an expansion of private sector activity. This report analyzes the issues that influence private sector development in Samoa. Rather than present a long list of proposals for change, this report takes a “first things first” approach and highlights five major issues that inhibit the development of the private sector in Samoa. In the opinion of the authors, removing the impediments that arise through these five issues would make a significant difference to investment, and the rate of development of the private sector, job creation, and wealth in Samoa. It looks at the incentives and constraints that affect investment, entrepreneurship, and businesses and makes some recommendations regarding how economic growth can be promoted.
For: The Asian Development Bank Under: RETA 6037: Private Sector Development Strategy For The Pacific, 2003
The Samoan economy is one of the few bright spots in the Pacific region. Following reform in the mid to late 1990s, the economy has been growing at rates that have substantially exceeded other island states. Nevertheless, per capita income remains low by the standards not only of the developed world but also compared with middle income developing countries. The government is committed to maintaining growth and reducing poverty and sees higher private sector growth as a key element in achieving its goals. Recent poverty surveys also show that the poorer communities identify the development of markets, jobs and finance, as the main factors that would reduce the level of hardship in Samoa, which also implies an expansion of private sector activity. This report analyzes the issues that influence private sector development in Samoa. Rather than present a long list of proposals for change, this report takes a “first things first” approach and highlights five major issues that inhibit the development of the private sector in Samoa. In the opinion of the authors, removing the impediments that arise through these five issues would make a significant difference to investment, and the rate of development of the private sector, job creation, and wealth in Samoa. It looks at the incentives and constraints that affect investment, entrepreneurship, and businesses and makes some recommendations regarding how economic growth can be promoted.