Page 26 - IB FEB 2017

Movers & Shakers

PNG’s Philippines focus He added that global economic condi- of Fiji (40 pc), and Shanghai Fisheries.
WITH the Pacific Marine Industrial tions remain subdued underpinned by Golden Ocean Fish is also owned by
Zone (PMIZ) likely to start this year weaker outcomes in emerging markets Shanghai Fisheries, meaning the Chinese
in Papua New Guinea, the national and developing economies. Global growth firm controls 60 pc of Kiribati Fish.
government has indicated it wants the for 2017 is expected to improve to 3.4 per
Philippines out so it can focus on local cent from a lower 3.1 per cent estimated SPTO manager
development. for last year, supported by an improved THE South Pacific Tourism Organisa-
The first cannery in the Zone is sched- outlook for advanced economies. tion has appointed Christina Leala Gale, a
uled to open in April but details remain Notably, potential policy changes by Samoan, as its new Manager of Sustain-
sketchy on how the Zone development the new United States administration and able Tourism Development.
will proceed. its impact across the globe represent the Leala‐Gale has 14 years of experience
Trade and Commerce Minister Richard key downside risk to the current global in the industry and will be responsible for
Maru said he was concerned about the growth outlook. strengthening SPTO’s work in the area of
dominance of Philippines in harvesting sustainable tourism development.
tuna despite the lack of investment in Inflation falls CEO Chris Cocker said Leala-Gale had
processing. He said despite Philippine INFLATION fell in Fiji last December a wealth of experience in various areas
companies being granted access based to 3.9 per cent from 4.3 per cent in No- such as sustainable development, tour-
on commitments to process tuna locally vember 2016. ism planning, project management and
currently 70 per cent of the tuna caught Fiji’s Reserve bank says inflation in the climate change to name a few.
by these companies was taken back to near term is expected to continue to be “SPTO is indeed fortunate to have an
Philippines for processing. domestically driven with major downside asset like Christina to share her technical
“As soon as we start the Marine Park, risks stemming from adverse weather expertise and knowledge in the field of
we are going to change the policy so no conditions and a sharp increase in oil sustainable tourism development, which
one will be allowed to take our fish out and food prices. is an area of great importance to the
of the country,” Maru said. Year-end inflation is projected at Pacific Islands. The Sustainable Tourism
around 2.5 per cent. Development Division is of course a new
With the modest performance of Fiji’s unit in SPTO and as we evolve to also un-
external sector, foreign reserves levels re- dertake tourism development programs, I
main adequate at $1906.0million (Janu- am pleased that we have qualified man-
ary 25), sufficient to cover 5.1 months of agers like Christina at the helm.”
retained imports of goods and non-factor Leala‐Gale joins SPTO from the Secre-
services. tariat of the Pacific Regional Environment
Programme (SPREP) in Apia where she
Sustainable tuna managed a regional project on reducing
the vulnerability of community liveli-
hoods to the impacts of climate change
No change through improved national meteorologi-
FIJI’S Reserve Bank board has agreed cal services in 14 Pacific Island countries.
to keep monetary policy unchanged by Prior to that, she held a variety of
maintaining the Overnight Policy Rate at positions over 10 years at Samoa Tour-
0.5 per cent, necessary to encourage in- ism Authority (STA), working on tour-
vestment and further strengthen growth ism planning and development, climate
in the economy. change adaptation in the tourism sector
Governor and board chairman, Barry and managing the recovery of the Sa-
Whiteside, announced the decision stat- KIRIBATI’S partially state-owned fish- moan tourism sector following the 2009
ing that, “the economy remains on a eries company Kiribati Fish Ltd, which is tsunami and Tropical Cyclone Evan in
recovery path as reconstruction works controlled by Shanghai Fisheries General 2012.
continue following Tropical Cyclone Win- Corporation (Group), announced late last
ston and given the damage caused by the year it will supply fish certified as sustain- Fiji TV CEO
tropical depression in December on the able by the Marine Stewardship Council FIJI Television has appointed Karen
key sectors for agriculture, manufactur- (MSC). Lobendahn as CEO after the resignation
ing, mining, construction and utilities”. Under the partnership with Pacifical, of Geoffrey Smith.
Whiteside said, however, that despite which markets MSC tuna caught in PNA Ms Lobendahn was one of the found-
the setbacks from the natural disasters, waters, Kiribati Fish is expected to pro- ing members of the Fiji TV staff when its
consumption and investment activity had cess MSC-certified yellowfin tuna steaks operations started in 1994.
remained buoyant, signalled by positive and loins bound for the EU and US. The
trends in partial indicators. supply begins this month.
“Supportive fiscal measures, accommo- Kiribati Fish has already spent around
dative monetary policy settings, together $10million in its processing factory in
with inflows of remittances and tourist Tarawa, said managing director, Xue
earnings and favourable labour market Jun Du.
conditions, have boosted consumer Kiribati Fish was formed in 2010 as a
spending and investor sentiments,” partnership between the government of
Whiteside said. Kiribati (40 per cent), Golden Ocean Fish

26 Islands Business, February 2017