The Cook Islands Investment Corporation (CIIC) is a statutory Corporation of the Cook Islands Government. CIIC was established in 1998 through the Cook Islands Investment Corporation Act 1998 to manage Crown assets including Government land, buildings and interests on Rarotonga and the Pa Enua (outer islands), and governance of Crown enterprises (subsidiaries, associates, SOEs and Crown Controlled Entities) on behalf of the Crown..

CIIC’s vision and aspiration is:

“Te au apinga puapinga te ka tauturu I te iti-tangata Kuki Airani.”

“Quality assets that serve the Cook Islands people”

For more information on CIIC’s vision and its link to the Cook Islands Government National Vision, please click on this link; Vision.

CIIC’s vision is a very wide remit, therefore has a vast scope of responsibilities and contributes in a number of ways to the National vision and national development.

In achieving our vision CIIC separates our business into two equally important elements or functions, as outlined below, with their respective purpose:.

1) Crown Enterprises: Lead governance, oversight and development of Crown enterprises for the effective delivery of services to the Public and ensuring the sustainable improvement of the standard of living for all Cook Islanders, and

2) Asset Management: Lead the effective management, development and maintenance of Crown assets for the effective delivery of services to the Public and ensuring the sustainable improvement of the standard of living for all Cook Islanders.

CIIC’s vast scope of responsibility therefore includes:

• Crown and leased land, Government houses and buildings,
• the Ports and Airports of Rarotonga and Aitutaki,
• Te Aponga Uira Power Authority and Te Mana Uira o Araura,
• the Bank of the Cook Islands,
• investments in reticulated Water and Sanitation,
• Avaroa Cables,
• Punanga Nui Market; and
• Seabed mineral assets.

The CIIC Group constellation below diagram is a good illustration of CIIC’s vast responsibilities and includes its two main functional areas, shared functions and priorities:

For more information on CIIC’s State Owned Enterprises function, please click on this link; Crown Enterprises.

For more information on CIIC’s Asset Management function, please click on this link; Asset Management.

The below Organization Chart outlines the various entities (subsidiaries, associates, SOEs and Crown Controlled Entities) across the CIIC Group:

The Minister responsible for the Cook Islands Investment Corporation is the Prime Minister, the Honourable Mark Brown. For more information on CIIC’s Board and Management, please click on this link; Responsible Minister, Board and Management.

The above Organisation Chart outlines a considerable number of entities across the Group and for more information (including website links, Directors, Chief Executive / General Managers and a very brief summary) of each entity within the CIIC Group, please click on this link; Crown Enterprises.

The CIIC Group has a portfolio of assets (book value) of approximately NZD$400 million, with a broader responsibility well over this value, including a number of large infrastructure projects currently being progressed. The financial statements of the Group have been prepared in accordance with and comply with International Public Sector Accounting Standards (IPSAS) with a financial year end of 30 June. The consolidated financial statements are presented in New Zealand dollars.

CIIC and its entities provide numerous direct and indirect benefits to the Cook Islands and some of these benefits include:

• Managing the Nation’s Gateways: The Airport Authority manages the main passenger gateway to the Cook Islands. The Airport Authority receives a modest level of funding from the Government to undertake its operations, in essence providing a subsidy for the greater good of the nation. The airport also provides a crucial service to the community in the form of fire response and protection. The Ports Authority is responsible for ensuring the effective inward and outward flow of passengers and products, essential to our economy and modern way of life, and likewise receives a modest level of funding from the Government to undertake its operations. In giving to the community also, the Port Authority provides free berthage for interisland shipping, ensuring our Pa Enua are connected to each other and the rest of the World.
• Sponsorships: CIIC and its entities sponsor a range of causes throughout the Cook Islands. The Bank of Cook Islands (BCI) in particular, sponsors many initiatives including the Young Enterprise Scheme with Cook Islands Chamber of Commerce, Year 10 Business Challenge with Ministry of Education, Gold Sponsor for Tourism Awards, Annual Gold Sponsor for Te Maeva Nui and various sporting codes and performing arts events.
• Banking services: BCI provides banking services on Rarotonga and to the Pa Enua (outer Islands). BCI is the only bank providing services to the Pa Enua (outer islands). The Pa Enua services come at a cost and are in some cases uneconomic to operate as a result of low customer and transaction levels.
• Renewable energy: CIIC and its power entities, Te Aponga Uira and Te Mana Uira o Araura has supported the National aspiration to achieve 100% renewable energy and has invested in solar PV and BES systems in recent years in working with the Cook Islands Government Renewable Energy Division to achieving this goal. TAU also supports the Pa Enua energy infrastructure through the provision of technical advice to, Island Councils who provides electricity service to Pa Enua households and businesses.

If you require further information on the CIIC Group, please do not hesitate to contact us via phone +682 29391 or email: ciic@cookislands.gov.ck