ADVANCES in the business environment in several Pacific Island countries mark 2014 as a year of achievement for the Pacific Private Sector Development Initiative (PSDI), says a recently launched report the progress of the regional technical assistance facility.
PSDI, which focuses on improving the business environment by promoting investment, encouraging entrepreneurship, and easing constraints to doing business across ADB’s 14 Pacific developing member countries, started operations in 2006 and was co-financed by the Asian Development Bank, Australian and New Zealand governments.
The seventh progress report for July 2013-June 2014 highlighted new online business registries in Tonga, landmark legislation on public-private partnerships in Papua New Guinea, and the establishment of pilots to economically empower women in four Pacific countries.
“As we finish PSDI’s eighth year, its success and longevity are now powerful drivers for promoting ongoing reform in the region.
“This in turn contributes to poverty alleviation in our Pacific developing member countries,” said ADB’s regional director for the Pacific liaison and co-ordination office in Sydney, Andrea Iffland.
ADB Pacific Department director general Xianbin Yao said the bank’s developing member countries were strongly positive about PSDI’s work in the region.
He said PSDI’s analysis was wellknown for its rigorous research, investigation of present and emerging issues, and recommendations to assist governments and the private sector with restricting reforms in the best way to achieve maximum development impact.