16 Sep 2014

SOEs a 'strain' on Pacific economies

5:50 am on 16 September 2014

A recent report released by the Asian Development Bank has found that State-owned enterprises or SOE's are continuing to strain economies in the Pacific.

The report studied nine Island countries in the Asia-Pacific region which included Fiji, Solomon Islands, Samoa, Papua New Guinea, the Marshall Islands and Tonga.

Its lead author, Lore Darcy, says issues such as lack of transparency have partly contributed to the performance of the SOE's but there has been improvement over the years.

She also said some countries haven't had the trained staff to produce quality accounts.

In some cases that is the reason why accounts haven't been produced. In other cases it's rather inexcusable where capacity exists but there seems to have been a desire not to put this information out in public domains. But each generation of it reminds everyone how important it is to have this information in the public domain because this is investment that really belongs to the people.

Author Lore Darcy.