Growing Investment Into Pacific Businesses
The New Zealand Pacific Economy Report, released today by The Treasury, recognises the critical role Pacific businesses contribute to a prosperous Pacific community. The Pacific Business Trust (PBT) is a partner in the project.
PBT Chairman Fa’amatuainu Tino Pereira says the Report is a first step in understanding the Pacific economy and how it contributes to the wider New Zealand economy. Its findings support more investment in Pacific businesses.
The Report also shows there are approximately 1500 Pacific businesses employing New Zealanders and 4100 self-employed Pacific people representing small Pacific businesses. These include sole traders and small businesses with a few employees.
The construction industry has the highest representation of Pacific businesses. A significant proportion are in the professional, scientific and technical services industries.
Over the past two-and-a-half years, PBT has embarked on a journey to transform into a fit-for-purpose entity that will help support and invest in Pacific businesses and enterprises that are profitable, sustainable and capable of producing more jobs and high incomes to support Pacific families and communities.
PBT will now work with Treasury and other key stakeholders to progress its first step findings into more tangible actions, delivering economic benefits and wider wellbeing outcomes for our communities and New Zealand as a whole.