The Tahiti Pearl Consortium: A Creation Raising Concerns and Questions
By Sandrine, Saturday 9 February 2013 at 13:10 :: Legislation
The creation of the Tahiti Pearl Consortium (TPC), a semi-public company intended to revitalize the pearl farming industry, was officially approved during a session of the territorial assembly with 28 votes in favor and 24 against.
Although adopted, the decision is far from unanimous, sparking strong reservations and questions among industry professionals — and even within the political majority.
The Minister of Marine Resources, Temauri Foster, a staunch supporter of the TPC, is struggling to persuade critics, and doubts remain about the effectiveness of this initiative in reviving a pearl farming sector that has been in crisis for several years. The opposition and members of the collective “Touche pas à ma perle” have openly voiced their discontent, denouncing a lack of prior consultation and the rushed nature of the project’s implementation.
Industry professionals remain concerned about the absence of tangible guarantees and the lack of a solid business plan. Influential producer Franck Tehaamatai has conditioned his support on several requirements, including greater representation of private shareholders on the Board of Directors. Critics also point to the project’s troubled past, as it had been rejected by the administrative court last December.
Despite these uncertainties, the TPC is expected to gradually replace the Maison de la Perle, with ambitious growth projections running through 2018. However, the real challenge lies in finding private partners willing to invest 15% of the share capital — a total of 90 million XPF. The “Touche pas à ma perle” collective remains firmly opposed to this political decision, continuing to voice doubts about the future of pearl farming in French Polynesia.
