Tonga
PSDI is supporting reforms that address private-sector challenges and help the Tongan economy fulfill its long-term growth potential.
PSDI is working with the Government of Tonga to:
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Increase access to finance through the implementation of a secured transactions framework, and providing assistance to lenders to enhance the framework’s uptake;
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Strengthen the governance and operations of Tonga’s public and private-sector retirement funds;
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Simplify and modernize business and investment laws, and streamline business registration processes through electronic registry implementation;
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Improve the performance of state-owned enterprises through reform, PPPs, and transparent performance information;
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Assess public-private partnership and privatization opportunities;
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Support strong competition and consumer protection legislation and policy development;
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Analyse and work to remove constraints to women’s full economic participation, through Women’s Business Leadership pilot projects and incorporating a gender perspective into reform activities; and
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Support reforms through advocacy and analytical work.
Resources and Spending
Since 2007, Tonga has received $4.7 million in PSDI assistance. 28% of this overall figure has been allocated to business law reform initiatives, which have included development of the Pacific’s first multiple-entity registry and numerous legislative reforms. A broad state-owned enterprise (SOE) reform and public-private partnerships program has also received 28% of total funding. Financing Growth initiatives have received 20% of the overall figure, including the development of a secured transactions framework and associated work to increase the provision of loans secured against movable assets.
On this website, $ refers to US dollars unless otherwise stated.
For detailed information on PSDI activities in Tonga, download the 2022 PSDI Country Overview here.
Tonga at a glance
Simplified and modernized business laws
80% faster business registrations
29% increase in new business registrations
Secured transactions framework
9,500 securities registered
South Pacific's largest solar plant
Latest News
Tonga has one of the strongest SOE governance and monitoring frameworks in the Pacific, but its government should continue to seek out new commercialization opportunities, a new ADB PSDI report says.
As International Women's Day 2023 shines a light on the digital gender gap and technological inclusion, watch this video to find out more about PSDI’s support for a digital gender gap audit of Papua New Guinea, Samoa, and Tonga.
PSDI has supported Tonga’s Ministry of Tourism to assess the impact of Tropical Cyclone Harold, the Hunga Tonga-Hunga Ha’apai volcanic eruption and tsunami, and COVID-19 on the country’s tourism sector.
The final tranche of a PSDI-supported solar farm in Tonga has come online—the largest project of its kind in the South Pacific.
A new, PSDI-supported informal business survey in Tonga will help inform government programs and business services for the country's informal sector, Economic Empowerment of Women Expert Sarah Boxall says.
NUKU'ALOFA TIMES, TONGA: Tonga is amongst the pace setters according to a new report from the Pacific Private Sector Development Initiative..
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