The Samoa Chamber of Commerce will be submitting its budget proposal after the general elections in April.
CEO, Lemauga Hobart Va’ai said the submission will reference the recently completed Business Confidence Survey 2020.
He made the comment at a special presentation by the Ministry of Finance.
It was the first members meeting of the chamber of commerce, this year.
All Chamber submissions to government are evidence-based according to input from the private sector which the Chamber uses to seek support, “not only with our Government but also partners with our Government such as IMF, ADB, World Bank also our regional donors, overseas organization and international stakeholders,” said Lemauga.
Given the unprecedented times, several members spoke of the need for private sector support, as businesses continue to adapt to the impacts of Covid-19.
The March Members Meeting chaired by Chamber President, Jennifer Ula-Fruean was attended by 78 Chamber members.
Ministry of Finance, CEO Vaetoeifaga Abigail Lee Hang shared the Government’s position towards strategising the economic recovery for Samoa, allowing an open dialogue between Chamber members and Ministry of Finance officials.
The presentation explained the Government’s Stimulus Package that will be rolled out in 3 Phases over three financial years. Phase I which was announced in April 2020 included policies towards enabling private sector, ensuring purchasing power of the citizens, and providing social sector support.
Vaetoeifaga explained that while other economies have opted for a one-time large stimulus payouts, the Government has issued the three phase stimulus packages.
The government’s intention is to create sufficient ripple effects spanning many months to ensure that the economy continues to turn, if not grow.