Find Economic Development expertise in Tonga
Tonga does not have independent investment promotion or export development agencies. Most of the work carried out by these types of agencies is vested in the Ministry of Labour, Commerce and Industries. The Ministry was established in 1973 in order to regulate investment, industrial relations, labour market information and intellectual property rights. Like in all countries the central bank, National Reserve Bank of Tonga helps promote monetary stability and economic development. The Tonga Development Bank was established in 1977 to help promote Tonga’s economic and social advancement. The Tonga Visitors Bureau is Tonga’s national tourist office which helps to increase tourism revenues. A government-operated industrial estate called the Small Industries Centre offers a range of established factory facilities for various industries. In general Tongan governmental agencies with the help of donor nations hope to diversify the Tongan economy by focusing on the growing private sector in Tonga. They aim to develop tourism, increase agricultural productivity and revitalise key industries. Forests and fisheries are two of the major prospects; the tuna supply in surrounding waters is plentiful and old coconut trees are a potential source of lumber. The construction sector is also growing due to aid money and remittances from Tongans abroad.
|Economic Development Agencies organisations in Tonga|
|Tonga Development Bank||