Regional discussions on strengthening investment management processes to ensure every dollar spent on infrastructure generates a maximum return are underway in Samoa.

Officially opened on Monday morning at the Tui Atua Tupua Tamasese Efi (TATTE) Convention Center, the regional conference is hosted by the Samoan government in collaboration with other regional organisations. 

This includes the Economic and Social Commission for Asia and the Pacific (ESCAP), the Pacific Financial Technical Assistance Center (PFTAC) and the Pacific Region Infrastructure Facility (PRIF). 

There are over 50 delegates from 14 different Pacific island countries including Samoa as well as representatives from the International Monetary Fund (IMF). 

The official opening commenced with a brief sermon led by Reverend Melepone Isara who is the Treasurer for the biggest denomination in Samoa, the Congregational Christian Church Samoa (CCCS). 

Finance Minister, Lautimuia Uelese Va'ai delivered the keynote address and spoke on behalf of the government of Samoa to welcome the delegates to Samoa and wish them well on the five-day discussions. 

"Quality infrastructure investment drives economic growth and sustainable development reducing inequalities, and improving access to health, education, public services and income opportunities," Lautimuia said. "Getting the best bang for our investment dollar is therefore absolutely critical.

"However, creating quality infrastructure that is well-planned, well-implemented, resilient, and sustainable has often been challenging in the Pacific. 

"In most countries represented here, there is weak infrastructure governance, weak project appraisal capacity, faulty project selection, lack of maintenance, and funding white elephants and pet projects. 

"All these amount to poorly designed and implemented infrastructure with large cost overruns, long delays in construction, and yielding minimal social dividends."

Lautimuia said there is a need to strengthen investment management processes so that every dollar spent on infrastructure generates a maximum return that will benefit our communities. 

"We need to raise the efficiencies of our institutions and capacities to better manage our investment portfolios. I am encouraged, the five-day workshop will provide participants with an understanding of why the sound management of public investment is critical to more efficient and more climate-resilient infrastructure. 

"More specifically, it will focus on ensuring good alignment with the national infrastructure plans and the budget allocation process; ensuring project appraisal and selection guidelines are established and inform investment decisions; that the full cost of projects is considered and budgeted for including maintenance; and that the progress of project implementation can be effectively monitored and reported.

"The Pacific countries face so many challenges as we strive to provide a better quality of life for our people. We cannot afford to waste the very limited resources we have at our disposal. Simply put, we need to spend well.

"I am pleased to note the program will be delivered in a practical manner with the opportunity for countries to share experiences and engage in practical group exercises leading to the development of action plans for each country. 

"Sharing knowledge and learning from what works in one country could be a game changer in another country. I am sure this will be extremely rewarding for you all.

"At this point, I would like to commend the IMF and PFTAC for listening and responding to countries' interest and demand for further intensive technical engagement to build public investment capacity. I would also like to acknowledge the contribution of ESCAP and PRIF in supporting this workshop."

Former CEO of the Ministry of Finance, Tupa'imatuna Iulai Lavea who was appointed as a Public Financial Management Advisor for PFTAC told this newspaper that the workshop will give the participants the opportunity to share about the kind of strategies that work for each of the countries they represent. 

"One of the good things about this workshop is that it is expected that by the end of the workshop, there will be action plans for each of the countries based on what is discussed during this meeting. 

"Often too many times we initiate good projects but they need to be well-planned so that they can be beneficial for our people. If not, then it will just be a waste of money, time and resources. 

"That's why this meeting is important. We also need to look at the kind of projects that drags on and then end up costing more than we had planned and we need to stay away from that sort of problem. This will be no doubt a fruitful discussion and we are positive that it will benefit all the countries participating in this workshop."