I never signed any Hong Kong agreement as PM said – Mulipola

Apia, Samoa – 11 March 2025 – The former Minister of Finance, Mulipola Anarosa Ale Molio’o has set the record straight and sternly rejects the PMs accusations that she signed a Stock Exchange Agreement in Hong Kong in April 2023.

The accusation had been swirling around since and seemed to be one of the reasons the PM removed Mulipola from the Finance Minister portfolio in a Cabinet reshuffle in 2023.

The accusations have also been used politically with the Opposition MP for Safata, Leaana Ronnie Posini raising the signed agreement allegation in Parliament and the Prime Minister firmly denying then, that no agreement was signed.

However, Fiame took a complete turn around in a press conference last Friday accusing Mulipola of signing an agreement in Hong Kong without the knowledge of Cabinet.

Fiame told the media that Mulipola signed the agreement on her own without the approval of the Cabinet.

Fiame was reacting to Mulipola’s loss of confidence in her as the Prime Minister highlighting Fiame’s lack of empathy for the ordinary people, high mindedness, dictatorial behaviour and dismissive attitude in Cabinet and in general in relation to matters of great public interest and importance.

Invitation to Samoa Digital Asset Exchange & Oceania Economic Zone launch
However, Mulipola insisted that she did not sign any agreement. As Minister of Finance, she was invited by the Chairman of the Marriott/Sheraton Chain of Hotels worldwide, to attend a Trade Promotion Expo in Hong Kong as part of the SDAEOEZ.

Before then, the Samoan Government, Development Bank of Samoa and the Marriott/Sheraton Hotel Company, had signed an agreement where the Samoan government owned 30% the Sheraton Hotel in settling a $53million debt to the Development Bank under the previous Government.

“Cabinet then approved the 30% ownership equity of the Sheraton’s $53 million loan with DBS and Sheraton will pay $20m of the loan,” said Mulipola.

Mulipola accepted the invitation and she was also invited to speak on investment and tourism promotion in Samoa and she appreciated the opportunity to share what Samoa has to offer. Her trip in April 2023 was approved by Cabinet.

“I was invited to be in the photo as Sheraton was one of the investors and I have just presented a speech, but I did not sign any agreement whatsoever, not like the agreement Fiame signed with China on free visas,” said Mulipola.

Stock Exchange long term interests
Mulipola clarified that some of the business people in the photo have already been issued with business licenses to operate in Samoa since 2015 and they have been waiting for the due diligence from the Central Bank and the delay has affected all investors who have submitted proposals to the Government.

Mulipola also clarified that the investors proposals were submitted during the previous HRPP Governments who after returning from a fact finding trip to China, proposed to build a 15 storey building for a Stock  Exchange Market in Samoa.

After clarifying her trip and the alleged signed agreement, she challenged Fiame to show the media a copy of what she is accused of signing in Hong Kong.

She said the alleged signed agreement was also raised by Member of Parliament (MP) for Safata 1 Leaana Ronnie Posini during one of Parliament’s sittings, and it was Fiame who intervened and confirmed to the MP that no agreement was signed by the Minister in Hong Kong.

Fiame’s Concern of impact of Stock Exchange
Fiame said there was the Government concern about a potential impact of a stock exchange and an economic zone on the Samoan people.

However, the Chinese investors have given up after waiting since 2015 for the slow due diligence process by the Central Bank of Samoa and relevant government ministries. The investors have the impression that due to the officials lack of knowledge of the business, they have decided to push the business proposals under the difficult pile.

Meanwhile, Samoa’s Immigration & Investment Act that targeted overseas investors in return for Samoan citizenship, have attracted not a single investor since adoption in 2008. The $4m investment ceiling is considered too high and a review of the Act has so far produced nothing of concrete value.