Tonga and ADB
In the Spotlight
Tonga launched the region’s first integrated online business registry, providing up-to-date information on Tongan companies and businesses to the public 24 hours-a-day, 7 days-a-week.
The Key Indicators for Asia and the Pacific 2014 presents the latest available economic, financial, social, and environmental statistics for the 48 regional members of ADB. Download the statistical tables for Tonga.
Engaging the private sector through public-private partnerships and privatization improves the performance and service delivery of state-owned enterprises, according to a new report by ADB.
The economy of Tonga is characterized by large volumes of subsistence agriculture, extreme vulnerability to natural hazards, and a heavy reliance on external income (donor aid and remittances). In the medium term, Tonga’s development prospects depend on the continued implementation of structural reforms that will improve economic productivity, remove bottlenecks to growth, and strengthen macroeconomic resilience.
ADB and other development partners are working closely with the Government of Tonga to implement a Joint Policy Reform Matrix that ensures that priority areas are addressed, and that policy reforms are realized. The medium-term policy goals for the government include maintaining macroeconomic stability, particularly in light of the large debt overhang, and improving economic management. Policy reforms must also seek to achieve sustained economic growth led by the private sector, while maintaining education and health standards.