Palau’s Minister of Human Resources, Culture, Tourism and Development, Ngiraibelas Tmetuchl, has said there are significant opportunities for the private sectors of the Maldives and Palau to work together, and stressed the need to make full use of these opportunities.
The Palauan minister said the SIDS Global Business Network Forum, which focuses on the business and economic development of small island developing states (SIDS), provided an important opportunity to strengthen ties between small island nations such as the Maldives and Palau. He said such partnerships play a vital and highly beneficial role in developing island economies.
He said the forum also provided an important platform for governments, the private sector and civil society organisations to strengthen their connections. The minister noted that the forum created opportunities to meet different stakeholders and expand business networks, while emphasising that progress cannot be achieved without private-sector participation.
He added that opportunities to engage in discussions and consultations with businesses and governments through such forums could pave the way for new investments and strengthen cooperation between governments.
Highlighting the potential for successful private-sector cooperation between the Maldives and Palau, Minister Tmetuchl pointed to the development project being undertaken in Palau in partnership with Four Seasons Resort as a good example. Four Seasons, which operates in the Maldives, has now begun developing a resort in Palau, which he described as a strong example of work being carried out in partnership with the private sector.
As a result of this connection, our relationship with the Maldivian government has grown even stronger. Under this agreement, the Maldivian government has facilitated opportunities for Palauan students and trainees to come to the Maldives, particularly to gain work experience at the Four Seasons Resort. As a result, they will be able to use the skills and experience they gain to help develop Palau’s tourism industry,” the Palauan Minister of Human Resources, Culture, Tourism and Development said.
He further noted that important work related to the use of artificial intelligence (AI) had also been carried out through the SIDS Business Forum. Although such initiatives were not being undertaken at government level, he said important efforts were being made to develop human resources and exchange new ideas. He observed that, in many cases, everyone works separately, focusing only on the areas they are developing individually.
He said he hoped future forums would bring governments and businesses together to work collaboratively and invite more businesses and governments to participate. He also expressed hope that the connections and cooperation emerging from the forum would contribute to a brighter future.
The SIDS Global Business Network Forum on business and economic development, attended by representatives from more than 30 countries, brought together small and medium-sized businesses, business associations, investors, civil society organisations, as well as academic and research institutions. The forum, attended by more than 200 participants, featured five panel discussions, a marketplace for small and medium-sized businesses, investment showcases and networking opportunities.