Pacific Tourism conference ended with mixed reaction

The three day Tourism conference organised by Pro-investment ended at Sheraton Fiji Hotel with a mixed reaction from more than 300 delegates from within the Pacific region, Australia, New Zealand and Europe. Potential investors, represented by consultants have expressed satisfaction that at least some areas of investment are readily available in the Pacific island countries in the areas of tourism, fisheries, forestry, agriculture, aviation and other sectors.

The organisers and resource people to the conference have expressed overwhelmed satisfaction of the interests shown by Pacific islanders by the number of projects submitted, their attendance to various conferences and the friendliness and discussions evolved during the meetings.

However, a number of Pacific islanders have expressed dissatisfaction that no actual financial commitments and contracts were finalised for the financing of their projects.

Some had hoped that after the meeting, financial contracts will be signed with investors to start implementing their various projects. They described the conference as another talk-shop with little actually achieved except for the contacts made and the free food and drinks.

Before leaving their countries for the meeting in Nadi, Fiji, many Pacific islanders had to dig deep into their scarce resources to meet expensive airfares, accommodation and food during their stay in Fiji with the hope of securing finances at the end of the conference which did not eventuate.

But despite the failure of signing financing agreements for the implementation of their projects, the majority of Pacific islanders were satisfied that at least for the next six months, they now can contact potential investors they knew nothing of before their arrival in Fiji. This will be made through contacts with consultant they’ve signed “Letters of intent”

with during one-to-one meetings in Fiji.

“I’m satisfied with the meeting since I’ve had a good number of contacts from Europe, Australia and New Zealand to venture, not only in tourism, but other sectors as well. I was hoping to sign a financing agreement during the meeting but it did not eventuate but I’m not too disappointed as well”, said conference participant from Solomon islands, Stuart Tahua.

Participants, on their return to their home countries will then make contacts with consultants they’ve signed “Letters of Intent” with to further push for feasibility studies and financing from either the European union investors or international financial institutions.

Representatives of the Centre for Development of Enterprises, CDE told delegates that the conference was the beginning of a process that will eventually attract financing from international financial institutions, including the European Investment Bank..

They also noted that a good number of projects submitted and negotiated at the conference fell short of EU financing facility but have pledged that after the conference, a review of the financing criteria will be carried out to cater for small Pacific island tourism-related projects.

This had given the disappointed Pacific islanders a ray of hope to press on with their projects.

The first Pacific Island delegation to leave the conference are that of Solomon Islands which left Thursday night, before the closing function started.

They are hoping that Letters of intent signed with potential investors and communication links can now move on from this week and onward for the financing of their tourism-related projects to expand their country’s base.

The next Pro-investment conference will be held later this year in the Caribbean.

by Charles Kereau, eTNВ  Solomon Islands

February 7, 2005   Posted in: Solomon Islands