Investment Code review underway

The Business Trade and Investment Board (BTIB) commenced the first of a series of focus group consultations to review its Investment Code. Local consultants Patrick Arioka and George Turia have engaged in discussions with various organizations and met with government ministry representatives on Thursday at the Parekura Conference Centre to gauge their views and opinions as to the relevancy of the Code in today’s business and foreign investment environment.
Although attendance numbers were low, Arioka confirmed that the exchange of views and ideas discussed were very interesting and rich and he was happy with the discussions that took place. The participants who attended, engaged in some lively discussions ranging from why the need for a review, should the Cook Islands open its borders to more foreign investors, possible policy changes that involve foreign workers, more co-ordinated effort amongst government agencies in dealing with foreign investors and the role of the BTIB to name a few.
Special focus was placed on the areas of “priority, reserved and exceptions” in the Code which prompted some lively discussion and the need to consider more closely whether or not, these areas are restrictive or too open to foreign investors.
Judging from the responses, it appeared that many of our own Cook Islands people are not fully aware of the principles, merits and opportunities that arise from foreign investment, trade and business development and there is a need to initiate an awareness program to assist them to understand and appreciate the importance this brings to our nation from an economic perspective.
Friday’s consultation workshop involves representatives of the Aronga Mana, Chamber of Commerce, private sector organizations and those who have a special interest in this area and want to air their views. Arioka welcomes the general public to come along and take part in these important discussions.
Visits to the Outer Islands will take place next week and the consultation process will conclude with a final summary and presentation session to inform participants of the outcomes from these discussions. For those wishing to obtain an information document, ring BTIB 24296 to obtain a copy.

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