Financial Secretary Office News

Financial Secretary Office News

Vacancy: Economic Policy Advisor

The Ministry of Finance and Economic Management is seeking a motivated individual for the position of Economic Policy Advisor. This position reports directly to the Financial Secretary and is responsible to provide economic and fiscal advice in order to strengthen economic policy decision making for effective national planning and to build staff capacity of the Budget and Planning Division and related Government departments.

The role of the Economic Policy Advisor is wide ranging but will primarily concentrate on the following areas: Economic analysis, modelling, monitoring and reporting; policy formulation, analysis and development; budget development and support; external MFEM representation; and other general tasks requested by the Financial Secretary.

To view the job description download below:

Economic Policy Adviser - Job Description

Applications Close 4pm, 21 November 2016 (Cook Islands Time).

Please ensure all applications are submitted to Financial Secretary, Ministry of Finance and Economic Management, PO Box 120, Rarotonga, Cook Islands.

For any enquiry or to submit your application please contact etuatina.drollett@cookislands.gov.ck.


Asia Pacific project preparation facility


Recent in-country visits by consultant’s from ADB’s Asia Pacific Project Preparation Facility have left stakeholders enthusiastic about the prospects the facility offers. ICI’s Secretary Ngametua Pokino said his ministry “is excited at the prospect of this facility providing opportunities for capacity building and to enhance our ongoing commitment to working in partnership with the private sector.”

Not yet heard of the facility? Here is some important information for you. The facilities primary objective is to assist governments in preparing and structuring infrastructure projects with private sector participation. In particular they provide capacity related assistance to infrastructure projects like regulatory reform and institutional practices, due diligence and preparation of projects, marketing, tendering and awarding projects as well as project monitoring and project restructuring.

The private sector can benefit from this facility as it creates business opportunities for consultants and contractors and creates project investment opportunities by encouraging governments to tap into the facility.

For more information on the facility and a user guide go to the MFEM website www.mfem.gov.ck or visit www.adb.org. The Office of Public–Private Partnership of the Asian Development Bank commenced operations in January 2016. Target sectors include energy, transport, urban development, and social infrastructure.

[END]

For further information about the Office of Public-Private Partnerships, contact: Patrick Blanchard, AP3F Coordinator, Tel: +63 (2) 632 4444 (ext.70184) Email: pblanchard.consultant@adb.org

Business environment reforms gain momentum

The Government with the assistance of the Asian Development Bank (ADB), Pacific Private Sector Development Initiative’s technical support continues to progress implementation of important business environment reforms. The reforms consist of drafting of a new modernised Companies Act and a Personal Property Securities Act (PPSA) tailored to meet local conditions. The bills, having been drafted, were presented to stakeholders in a visit in August and are now being finalised and will require final endorsement by cabinet, hopefully later this year.

Once the Companies Act has been passed, NZ Aid Programme funding will allow the implementation of a new on-line company registry. ADB together with the NZ Companies Office will support the full implementation of the new law and on-line registry. The new PPSA will allow for moveable property to be used as collateral for loans. The new system which will be supported by an on-line registry will make it easier for individuals and businesses to access finance.

This will bring significant benefits to all local businesses including lowering the compliance and registration costs for incorporating a company, providing greater transparency in the operations of companies and the Act also has the potential to lower interest rates on loans supported by moveable property.

Financial Secretary Garth Henderson endorses the updating of legislation to reduce the cost of doing business in the Cook Islands and supports the increased access to finance for small businesses. He states “this move to greater transparency and cost reduction has been happening across the region and we are very pleased with progress to date. We look forward to the introduction of this legislation in the Cook Islands and will see it bring significant benefits from 2017 onwards”.

[End]