PIPSO Presents Private Sector Issues to FEMM 2020

August 14, 2020

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Wednesday 12 August 2020 Suva, Fiji – The Pacific Islands Private Sector Organisation (PIPSO) yesterday presented its key issues to the Pacific Economic Ministers during the Forum Economic Ministers Dialogue with private sector, which focused on discussing pathways to recovery under this current global pandemic.  This year’s dialogue is happening amidst unprecedented business losses and damage due to the COVID-19.

In its statement, PIPSO Board Chair Stephen Lyon stated that Pacific businesses were faced with a crisis, where businesses were wanting to do business but simply could not.

Lyon said, “we are grateful to Pacific governments for the assistance that has been provided to date but private sector needs more than the stimulus offered.” He added, “we need some semblance of economic activity back in order to remain viable into the future, and that has got to be the absolute priority – from a financial and economic perspective.”

The PIPSO delegation reflected that the COVID 19 pandemic did not replace the development needs and vulnerabilities – natural disasters, geo-politics, and climate change – faced by the region, but compounded them; and presented three key issues that formed the basis of their statement to Ministers.

These were (i) Partnerships for Recovery – PIPSO called on Governments and regional organisations to work with the private sector to discuss, plan and identify resourcing for the pathways to recovery. The private sector reaffirmed its commitment to working with Pacific Governments  and regional crown agencies to make this recovery a ‘whole of society’ approach.  PIPSO also called on the support of Ministers regarding the Review of PIPSO as a pressing item given the need to leverage private sector relationships during this time. This organisational review had been called for at the 2018 Forum Eocnomic Ministers Meeting.

(ii) Business Confidence – PIPSO urged that, “Governments needed to invest in Business, to invest in the Future” highlighting that business confidence is fundamental to recovery and economic redevelopment and looking to support the private sector through policy that ensures ease of doing business, cutting red tape and unnecessary compliance so businesses stay in business; and

(iii) Infrastructure – PIPSO called for the to proceed with pre-COVID infrastructure commitments, and where possible be brought forward. The private sector also called for greater support to ICTs and connectivity so that the businesses can embrace digital transformation and build on networked economies, e-commerce and digital trade opportunities.

PIPSO then concluded its statement by commending the support of the Forum Governments and encouraged the continuation of targeted financing mechanisms and solutions; and offered the support of PIPSO members in working through this crisis.

 The Private Sector Statement to the FEMM was put together following an online members workshop held by PIPSO on 29 July 2020; and prior to that, members convening subregionally to workshop and cluster private sector collective issues.

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