Prospectus to attract overseas investors
The Business Trade Investment Board (BTIB) is adopting a more proactive approach to attracting foreign investment in the Cook Islands by promoting a prospectus on behalf of local businesses seeking investors.
The Investment Opportunities prospectus for 2012 will be issued free and provides information on local businesses to potential investors.
BTIB is seeking expressions of interest from local businesses in being featured in the prospectus.
BTIB CEO Terry Rangi told the Herald on Tuesday morning the prospectus is the only regional investment guide highlighting investment opportunities in all 14 Pacific island Forum countries. In the 2011 issue the Cook Islands was featured at the beginning of the prospectus.
It is a high quality, full colour marketing tool and will be available in both printed and electronic copy.
It will be distributed through a network of the Pacific Trade & Investment Offices in China, Japan, Australia, NZ, Europe and the pacific islands.
A Chinese language version will be produced for the inaugural “China-pacific Islands Symposium” the date and venue of which is yet to be announced.
Rangi said ideally investors are sought in niche areas that support existing businesses, new niche markets and infrastructure. BTIB is not looking for more cafes and restaurants to be set up. Most of the investors have gone into the tourism sector says Rangi and there has been no “green-field” development of note.
Land constraints in terms of amount of arable land, land size and ownership has meant little new development in agriculture. Other factors are labour and production costs, distance to markets and competition from countries who are able to produce the same product cheaper and in greater volume.
BTIB is also considering contacting NZ Maori IWI regarding possible investments.
Rangi said this year BTIB will be trying different approaches, conveying positive messages and promoting a pro-investment outlook.
Rangi said while the Investment Code set the ground rules for investors, the Code needs a separate set of “Guidelines” to assist investors. -Charles Pitt

Herald Issue 608 21 March
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