Rubber could add

bounce to economy

THE Solomon Islands entered the rubber industry with the arrival of 3500 rubber plant stems recently. The Prime Minister, Solomon Mamaloni, said the planting of the trees will be the beginning of a commodity to help boost the country’s economy with a product that’s not too technical. The rubber project is being undertaken by an Indonesian company, Mega Corporation Limited, and the Solomon Ministry of Agriculture and Lands.

Nieu

Cutback on expatriates NIUE is to cut back the number of expatriate New Zealand contract work ers on the island. Finance Minister, Young Vivian, says he hopes to save nearly U 55285,000 by speeding up a programme to replace expatriates with

local people.

Micronesia

Study on ecotourism AN international study in Kosrae is trying to determine how to reap the benefits of tourism while protecting the mangrove forests, coral reefs, and virtu ally untouched natural beauty of the Micronesia island. The Governor of Kosare, Thurston Siba, says he wants to

help it develop economically by enhanc

ing natural resources, environmental beauty and cultural values. The 16-member assessment team from Pohnpei, Guam, New Caledonia, Aus tralia and Hawaii, will submit their recommendations next month.

Cook Islands

New notes THE Cook Islands Government is con sidering printing currency notes with new designs. The new designs for the $3, $lO, $2O and $5O notes were submitted

by Thomas De La Rue and the British American Banknote Company. The de signs, based on environmental, historical and cultural themes, will be put to cabinet for approval.

No aid for compensation COOK Islands Prime Minister, Geoffrey Henry, has dismissed suggestions that New Zealand aid money could help fund his Government’s compensation payout to the British Cable and Wireless com pany. The Cook Islands Government terminated the company’s telecommuni cation franchise at the end of June, almost four years before it was due. He said New Zealand’s budgetary assistance was directed by his Government specifi cally to health and education.

Western Samoa

Bank warning WESTERN Samoa’s Central Bank has warned that falling payments from overseas mean the country will have to curtail imports and find other ways of boosting foreign income. The bank’s

general manager, Papalii Tommy

Scanlan, says due largely to the recession in New Zealand, payments are expected to drop from a record of over US$37 million in 1990 to about US$34 million this year.

Papua New Guinea

Looking to Japan PAPUA New Guinea’s Prime Minister, Rabbie Namaliu, has urged the Japanese private sector to invest in the country. He said PNG must attract investments which will allow the country to build the economic base for its future, despite competition from many industrialised countries which are targeting Japanese investors. Namaliu said this is why his Government is putting more emphasis in the processing of PNG’s agricultural,

forestry and fisheries products.

Growth forecast PAPUA New Guinea’s Prime Minister, Rabbie Namiliu, has forecast that PNG will have one of the world’s highest levels

of economic growth during the remain der of the decade. He said with PNG about to become a significant oil pro ducer and the development of new mineral deposits, the country’s economy would continue to expand at a rate which other nations could only dream about.

Marshall Islands

Fisheries advisor A FISHERIES development advisor for the Republic of the Marshall Islands has been funded by a technical assistance grant from the United States. He will assist the Marshall Islands Marine Re

sources Authority in developing plans for

fisheries management.

Fiji

investors to meet INVESTORS from around the world are expected to gather in Fiji for Networking South Pacific ’9l from November 13 to 16. The investment and trade forum has been designed to show what Fiji has to offer and enable delegates to exchange ideas on invest ment in Fiji. It is the first of its kind, and has been organised under the auspices of the Fiji Trade and Investment Board and the united Nations Development Pro gramme/United Nations Industrial De

velopment Organisation with assistance

from the Centre for the Development of Industry in Brussels. Pacific Islands Monthly will include a special look at investment in next month’s edition.

Down to business THE South Pacific Trade Commission last month launched a series of tapes aimed at people starting their own business. Titled “Getting Down to Busi ness”, the 26-tape set was produced by Radio Australia to suit the South Pacific.

The initial series is for the Fiji market but future series are planned for other South Pacific countries. Work on tapes in Pidgin and French has started. The tapes are available on subscription. □