Economic Symposium slated for Feb. 23
The Palau Chamber of Commerce in cooperation with the Ministry of Finance is hosting its 4th Annual Economic Symposium on Feb. 23, with a focus on the country’s economic growth and its impact on the carrying capacity of pristine sites.
This year’s keynote speaker will be Paul Holden, Asian Development Bank (ADB) Consultant on Public Sector Development Initiative. [restrict]
In 2016, according to a consultation with the private sector in Palau, the Asian Development Bank (ADB) identified Palau’s strength leading to its economic growth but “masks” some pressing issues particularly on its tourism industry.
The private sector assessment stated that in 2014 and 2015, Palau has enjoyed a substantial economic growth and growth in per capital income making the island nation one of the highest in the Pacific region.
“Yet the strong performance of the economy masks some pressing issues, particularly with respect to the tourism industry, but also in terms of policy implementation, state-owned enterprise (SOE) efficiency, access to finance, and the business law framework,” the report said.
The 2016 assessment also said that its important that Palau’s pristine environment is not compromised as a result of its economic growth.
It recommends a moratorium on new tourism related facilities and reduction of tourists arriving on packaged tours until a National Tourism Policy is in place.
Another speaker for the symposium is Dr. Fan-Chan Tai, of Taiwan’s Commercial Development Research Institute, to discuss the use and benefits of eCommerce in Palau.
There will also be a special lunch presentation during the symposium from the Office of Planning & Statistics on Economic and Tourism Statistics, that they’ve built capacity to collect over the past several years.
The symposium will also discuss the private sector assessment on issues identified during last year symposium, which are on tourism, finance, agriculture and land.
This year’s keynote speaker will be Paul Holden, Asian Development Bank (ADB) Consultant on Public Sector Development Initiative.
There will also be a special lunch presentation from the Office of Planning & Statistics on Economic and Tourism Statistics they’ve built capacity to collect over the past several years, during the symposium. [/restrict]