Cabinet has approved the allocation of funds to assist with the administrative costs of private sector organizations in Samoa.
The funds were presented to twelve private sector organizations last Friday at the Ministry of Commerce, Industry and Labour (M.C.I.L).
The government initiative commenced in 1997 with only two private sector organizations and to date has increased to 12.
The grant also started out at $30,000 and to date has increased to $200,000.
The eligible organizations are those with commercial affiliations and are registered with M.C.I.L under the Incorporated Societies legislation.
A number of factors are also considered in determining the amount of grant to be awarded to each organization, such as registered membership, established office, audited financial accounts, progress of development projects, strategic plan to name a few.
Lautafi Fio Purcell, Minister for Commerce, Industry and Labour acknowledged the private sector’s continuing contribution to the economy of Samoa through investment, business development and trade for the creation of employment opportunities and income generation for the benefit of the people of Samoa.
The total grant for financial year 2016/2017 is $200,000.
From the total grant, the amount of $40,000.00 has been earmarked for the Women in Business Development Incorporated to assist with their organic certification activities, whilst the remaining grant is allocated to other private sector organizations to assist with their administrative costs.
The approved allocation is as follows:
Approved grant per private sector organization for 2017
Private Sector Organization
Total grant for Year 2017
1) Women In Business Development Incorporated - $40,000.00
2) Samoa Chamber of Commerce - $40,000.00
3) Samoa Association of Manufacturers and Exporters - $35,000.00
4) Samoa Hotels Association - $30,000.00
5) Business of Salafai Association - $15,000.00
6) Federated Farmers Association - $8,000.00
7) Savaii Samoa Tourism Authority - $7,000.00
8) Samoa Mamanu Design & Manufacturers Association - $5,000.00
9) Small Business Association of Samoa Arts & Handicrafts Incorporated - $5,000.00
10) Tautai Samoa - $5,000.00
11) Samoa For Real - $5,000.00
12) Farmers Samoa Incorporated - $5,000.00