Regulatory Compliance Training in Palau to Support COVID-19 Recovery

The Palau Chamber of Commerce has launched an initiative aimed at supporting local businesses recover from the impact of the pandemic by providing regulatory compliance training, advisory, and mentoring services. This move is part of a joint project with the International Labour Organization (ILO), United Nations Educational, Scientific and Cultural Organisation (UNESCO) and the United Nations Development Programme (UNDP).

Supporting MSMEs in the Informal Sector

The training program is designed to support micro, small, and medium-sized enterprises (MSMEs) in the informal sector by providing them with information on regulatory requirements and benefits of transitioning to formality. The initiative also aims to promote job creation and economic growth in Palau.

Key Statistics

40% of businesses temporarily closed during the pandemic
3% had permanently shut down
43% were partially open
14% fully operational
70% of respondents indicated that they would close if no relief measures were provided

Training and Support Services

The Palau Chamber of Commerce is currently registering business trainers, advisors, and mentors in preparation for the launch of the training program. Those interested can submit their applications to palauchamberofcommerce@gmail.com or contact Ms. Jada Avesani at (680) 775-3400.

Available Support Services

Creative skills training
Business advisory services
E-commerce platforms

Promoting Economic Growth and Job Creation

The project aims to improve access to creative skills training, business advisory services, and e-commerce platforms, ultimately supporting COVID-19 recovery through sustainable creative enterprises. The partnership between the Palau Chamber of Commerce, ILO, UNESCO, and UNDP is a significant step towards promoting economic growth and job creation in Palau’s informal sector.