Pacific business gets $16.2m boost in initiative launched in Tauranga

Friday, 29 April 2022

A $16.2m Pacific business initiative to improve Pacific economic development across Aotearoa has been launched by the Minister for Pacific Peoples Aupito William Sio in Tauranga.

Sio said the Pacific Business Village is intended to be used as the strategic framework for long-term economic development for Pacific business, to complement existing services as well as fulfil unmet demand in the regions outside Auckland.

“A key priority of the Pacific Business Village using the Tauola Business Fund, is to provide direct investment into businesses to accelerate their long-term growth, and assist with the economic recovery from the impact of Covid-19.”

The fund provides grants of up to $100,000 to support existing small and medium-sized businesses in the regions outside Auckland to create immediate employment, stimulate growth, increase productivity, and ensure Pacific businesses thrive in response to the impacts of Covid-19, he said in a statement on Friday.

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A $16.2m multi-year appropriation was made in last year’s budget to support economic development for Pacific communities, and this has been used by the Ministry for Pacific Peoples to create the Pacific Business Village.

“At the centre of the Village’s vision is the creation of a circular Pacific economy using Pacific Business Networks, Pacific Business Providers, and Pacific Businesses.”

Auckland Pacific Businesses are already supported by the Pacific Business Trust through their partnerships with Amotai and Auckland Unlimited.

“I am excited to be supporting regional Pacific economic development projects. They are at the core of our rebuild of the economy,” Sio said.