Online registries critical says Asia Development Bank

Developing and reforming online/electronic business registries in the Pacific Islands is essential. That's if the region wants to build a vibrant, efficient private sector.

This is what delegates said at a regional workshop jointly organized by the Asian Development Bank (ADB) and the New Zealand Companies Office.

The workshop, being held in Auckland, is attended by Pacific government officials, development partners and private sector representatives.

ADB, in partnership with the New Zealand Companies Office, is assisting Pacific governments to develop online business registries in Solomon Islands, Samoa, Tonga Vanuatu, and other Pacific countries.

The benefits of online business registries are many.

They are easy to use, and the paperless registration process allows business owners to register a company and update company details from anywhere with an internet connection, instead of travelling vast distances to do this.

“The development of online business registries in the Pacific will ultimately make it easier for people to conduct business in the region,” said Andrea Iffland, Regional Director of ADB's Pacific Liaison and Coordination Office in Sydney, Australia.

“We look forward to continuing our partnership with the New Zealand Companies Office to develop more business registries in the region.”

The workshop heard that business registries help reduce the cost of doing business, encourage compliance, improve transparency, and ensure fair-trading and consumer protection through appropriate regulation.

Participants discussed setting up new business registries, and international trends citing successful registry models in Samoa and Solomon Islands.

“The New Zealand Companies Office is a world leader in the use of information technology to enable online registries and is delighted to be part of this ongoing partnership with ADB”, said Michael Brosnahan, Operations Manager, Market Services Group, Ministry of Business Innovation and Employment.