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Samoa, June 7, 2007
—IFC, the private sector arm of the World Bank Group, and the Samoa Hotel Association have organized a seminar designed to build expertise in the country’s tourism and investment sectors and improve access to finance for viable tourism projects.
The seminar, sponsored by IFC Advisory Services for the Pacific—PEP-Pacific—will be held at Aggie Grey’s Resort on June 11-14, 2007. Delegates representing financial institutions, government agencies, and the private sector will participate in panel and open discussions with 40 industry experts. The speakers will address vital themes, including what investors need to know before entering the tourism industry, how to advance a tourism project, how to manage risks, where to go for financing, what are the land and legal considerations, what is the role of the public sector, and how to grow the business.
John Perrottet, IFC Program Manager, said, “This project responds to a need to build confidence and capacity in the investment environment for Samoan tourism. This can be achieved by sharing knowledge and experiences, and by discussing issues and opportunities specific to the sector in Samoa.”
The event is a first for Samoa. According to Nynette Sass, Samoa Hotel Association CEO, “This is a great opportunity to examine issues affecting investment in Samoa’s tourism sector and seek solutions for developing a robust industry, while remaining mindful of the cultural, social, and economic impacts on the country.”
Outputs from the seminar will form part of IFC and the association’s ongoing partnership to strengthen Samoa's tourism industry.
About IFC
IFC, the private sector arm of the World Bank Group, promotes open and competitive markets in developing countries. IFC supports sustainable private sector companies and other partners in generating productive jobs and delivering basic services, so that people have opportunities to escape poverty and improve their lives. Through FY06, IFC Financial Products has committed more than $56 billion in funding for private sector investments and mobilized an additional $25 billion in syndications for 3,531 companies in 140 developing countries. IFC Advisory Services and donor partners have provided more than $1 billion in program support to build small enterprises, to accelerate private participation in infrastructure, to improve the business enabling environment, to increase access to finance, and to strengthen environmental and social sustainability. For more information, please visit
www.ifc.org
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About IFC PEP-Pacific
The IFC Private Enterprise Partnership-Pacific is a multidonor initiative managed by IFC; donors include Australia, Japan, New Zealand, and IFC. Its primary objective is poverty reduction through employment-generating, sustainable private sector development. Programs focus on access to finance, tourism, and business climate development. The initiative works with partners to strengthen and stimulate small and medium enterprises, helping create jobs, raise living standards, and alleviate poverty. It serves IFC member countries in the Pacific, including Fiji, Kiribati, Marshall Islands, Federated States of Micronesia, Palau, Papua New Guinea, Samoa, Solomon Islands, Timor-Leste, Tonga, and Vanuatu.
About Samoa Hotel Association
The Samoa Hotel Association is a membership-based industry group that represents hotels and other accommodation providers who share common interests, goals, and objectives for tourism and accommodation standards in Samoa.
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