NATIONAL BUSINESS CONFERENCE TACKLES INNOVATION, GROWTH CHALLENGES

Panel discussion on ecommerce . Image: Facebook/TWICT

The third annual Tonga National Business Conference started yesterday at the Fa’onelua Convention Centre, co-hosted by the Ministry of Trade and Economic Development (MTED) and the Tonga Chamber of Commerce and Industries (TCCI).

The two-day event, titled “Empowering Local Innovation, Driving Sustainable Growth,” brings together business leaders, government officials, and stakeholders to address challenges and opportunities in Tonga’s economic landscape.

In his keynote address, Minister for Trade and Economic Development, Hon. Kapelieli Lanumata, identified key obstacles to innovation, including limited financial resources, a shortage of skilled labour, and restricted access to technology and finance. He pledged government support for private sector innovation through “financial investments in people and technology.”

Addressing concerns about labour mobility and its impact on the domestic market, Lanumata said, “We can’t stop people from leaving Tonga, but we can make that choice harder by building our business and employment sector up to balance the desire for wages and opportunities.” He emphasized that if individuals “can find peace and work and make a good living here, they may not want to leave.”

TCCI President Sam Vea discussed strategies for managing sustainable economic growth and supporting small and medium enterprises. He highlighted four focal areas: encouraging entrepreneurship, fostering creativity and risk-taking, supporting the startup of small businesses, and developing local talent through Technical and Vocational Education and Training (TVET). Vea also stressed the importance of collaboration and partnerships to navigate current challenges.

‘Aloma Johansson from TCCI Vice President described the conference as a public-private partnership between the Chamber and MTED, aiming to align efforts for national development.

The conference continues today, with sessions designed to foster dialogue between the private sector and government in order to develop actionable strategies for Tonga’s economic development.

This conference was supposed to be held last year but was postponed until this month.