The Economic Affairs, Tourism, Agriculture, Marine Resources and Transport Commission of French Polynesia’s Assembly approved the creation of the Tahiti Pearl Consortium on Wednesday afternoon, issuing a favorable opinion on the draft deliberation.
The proposal passed with 4 votes in favor and 3 against, and could be presented during an extraordinary Assembly session as early as Thursday.
Key Provisions of the Draft Deliberation:
- Establishes objectives for the Tahiti Pearl Consortium (a public-private partnership/SEM)
- Outlines capital participation terms
- Government to hold 85% stake (505 million FCFP investment) – a significant departure from the original 51%-49% public-private split proposal
Consortium’s Mandate (replacing EPIC Maison de la Perle by 2014):
✔ Tahitian pearl marketing
✔ New market development
✔ Price structuring
✔ Production classification/valuation
✔ Legal protection of pearl products
✔ Local/international promotion
✔ Production coordination with pearl farmers
„This marks a pivotal restructuring for our pearl industry,“ stated a commission member, while opponents criticized the lopsided public ownership. The Assembly’s final vote will determine whether this controversial model proceeds.
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