New Chair appointed to the Pacific Business Trust
Minister for Pacific Peoples Aupito William Sio today announced the appointment of Tevita Funaki as the new Chair for the Pacific Business Trust (PBT).
“Mr Funaki will be responsible for the governance leadership of the Pacific Business Trust as PBT rolls out the expansion of a Pacific economic development strategy in partnership with the Ministry for Pacific Peoples,” says Aupito William Sio.
“The Wellbeing Budget announced in May this year allocated $11.2 million over four years to the Ministry for Pacific Peoples to transform PBT to not only help business start-ups and business expansions, and supporting individual entrepreneurs, but for PBT to also provide support to community enterprises and job creating opportunities, including linking up investors, businesses, community enterprises with the economies of the Pacific region.
“This is an ambitious goal, but one which our Pacific community have said to me throughout my engagements is an important goal to help lift the economic and social wellbeing of Pacific peoples.
The new investment will also enable PBT and the Ministry for Pacific Peoples to work closely with Treasury to continue the work on the New Zealand Pacific Economy report which was released last year.
“I am very confident that Mr Funaki will bring his extensive business experience, community knowledge, and his cultural links to help us lay strong foundations for tackling the long-term challenges that Pacific peoples face in the world of business and the broader socio-economic space.
Mr Funaki will replace outgoing chair, Fa’amatuainu Tino Pereira who served as Chair of PBT from October 2015 to 30 June 2019.
“Pacific people understand that our journey as individuals is made possible only because of the people that paved the way for us. It is with this in mind that I would like to thank Fa’amatuainu for his tireless service,” says Aupito William Sio.
Mr Funaki‘s current term is for 3 years until 31 July 2022.