ADB Creates Online Company Registry For Pacific

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Samoa, PNG, Solomon Islands have joined scheme

By MOFFAT MAMU

HONIARA, Solomon Islands (Solomon Star, June 24, 2014) – Samoa and Papua New Guinea (PNG) have joined the Solomon Islands in benefiting from the newly established online company registry.

Asian Development Bank's (ADB) private sector development initiative business law reform expert Aaron Levine fortnight ago spent time in Apia to work on the Samoan company registry to ensure it is operational.

Speaking at the Pacific Media Assistance Scheme (PACMAS) business and economic reporting workshop in Apia, Samoa, Mr Levine said the online companies' registry had proven to be an efficient information tool which had saved time for the public and investors to look for companies’ information and to register a company.

He highlighted that the changing landscape of information technology has allowed companies in these three pacific island countries to display their details online for easy access.

"People were able to access background information about a company, their directors, shareholders and business profile at the click of a button.

"It also helps the media to access information and facts about a company and its profile," he said.

He added that in the past such information are not accessible.

Solomon Island was the first to benefit under the project and since the online registry was up and running, it has resulted in more local and overseas businesses registering.

Under the initiative it had also reduced time for people to register their company from 45 days to around one and half day.

Not only that but people can do it online without having to travel to Honiara, thus it reduces cost.

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