Samoa is set to host the Pacific Islands Investment Forum (P.I.I.F.) next year.
The Forum held its inaugural C.E.O. Conference in the Cook Islands last week having replaced the former Pacific Provident Funds and Social Security Forum. It was at that Forum where the decision was made for Samoa to be the next host.
P.I.I.F. is a Forum made up of provident, superannuation and trust funds across the Pacific with assets of more than A$70 billion (T$135b).
Samoa’s very own National Provident Fund is a key and pioneering member.
“The change in the focus of this Forum reflected in its new name is to emphasize the key priority area – that of investment and co-investment opportunities across the Pacific and across the Funds,” said Pauli Prince Suhren, the C.E.O. of S.N.P.F.
“One of the main challenges with each of our member Funds is that we are individually small when compared to the superannuation giants in the developed world. However, P.I.I.F. allows us to achieve synergy by pooling our resources to invest directly or co-invest in multinational projects of interest.”
At it’s meeting, the Forum chose a new Board of Directors on which the S.N.P.F C.E.O. now sits as a member.
The Forum also voted for Samoa to be the next host in 2019 for the Forum conference after some strong lobbying by the S.N.P.F.
A delighted Namulau’ulu Sami Leota, a Director of the S.N.P.F. Board and also present at the conference stated: “By the end of the meeting, we had achieved a lot and came away with two wins for the SNPF and for Samoa – membership of the Board and host next year.
“Membership of the Board means we have a powerful voice in the decision making and maximizes our ability to look for opportunities to grow our members’ contributions through pan-pacific co-investment projects.
“We are currently exploring multiple new prospects for co-investment with our fellow members. Bringing home the conference and hosting it next year means great exposure for our country and economy – something our government has always underscored in order to increase awareness of what Samoa has to offer.”
The Unit Trust of Samoa (U.T.O.S.) also joins P.I.I.F. this year as a new member.