The objectives of the Board are to -
            (a)    promote, foster and assist the  establishment of investment generally in the Cook Islands;
            (b)    encourage and advise the private sector in order to make the best sustainable use of resources consistent with national development and investment policies;
            (c)    promote, co-ordinate and facilitate trade to, from and within the Cook Islands;
            (d)    regulate, monitor and control the direction, extent and scope of foreign investment in the Cook Islands;
            (e)    encourage and facilitate the participation of Cook Islanders in investment and in the ownership, management and control of investment and business;
            (f)    provide and facilitate training in business related skills as well as provide advisory and other business services to encourage and assist Cook Islanders in business development.

The functions of the Board shall be to -
            (a) As to development generally -
                (i)        monitor and review private sector development;
                (ii)       advise the Minister and Cabinet on policies and means to encourage development through private sector investment;
                (iii)       promote and encourage the efficient and sustainable utilisation of resources by the private sector;
                (iv)       liaise and co-operate with Government agencies and other sectors of the community in planning and encouraging development                                    and  in facilitating the streamlining of processes in the development sector;

(v)    develop and provide such services to assist, facilitate and co-ordinate investment, trade and business development.

           (b)  As to investment -
                (i)        promote, facilitate and coordinate private sector development and investment;
                (ii)        encourage, monitor and regulate foreign investment;
                (iii)        advise the Minister and Cabinet on policies and strategies to encourage investment in desired or priority development areas;
                (iv)        promote the Cook Islands as a desirable and attractive investment area;
                (v)        assist, facilitate and co-ordinate the speedy and efficient processing of investment proposals.
            (c)  As to trade -
                (i)        advise the Minister and Cabinet on measures to ensure the optimum benefit to the Cook Islands from trade;
                (ii)        promote and encourage exports from the Cook Islands and trade within the Cook Islands as well as the development of industries and businesses involved in export or trade;
                (iii)        promote and facilitate public and private sector co-operation for the development and expansion of export and trade;
                (iv)        give advice to and liaise between the appropriate Government departments and agencies and the private sector in respect of any matter concerning the taxation, fees, import duties and levies effects of duties, levies, fees and tariffs which may be an impediment to or desirable for increased export and trade or for the regulation thereof.   

            (d)  As to business -
                (i)        provide business training in business skills and the provision of advisory and other business services to assist Cook Islanders to develop businesses and to acquire business skills;
                (ii)        encourage assist and facilitate the private sector to provide and undertake the training of Cook Islanders and to further their skills and qualifications through in-house training programmes, scholarships and trade training within the Cook Islands and overseas;
                (iii)        promote and foster the participation by Cook Islanders in the ownership, management and other financial benefits arising out of business generally.
        
In the carrying out of its objectives and functions the Board shall –

            (a)    have regard to the Investment Code and any investment policy (not inconsistent with the Investment Code) which may from time to time be approved by Cabinet and conveyed to the Board in writing by the Minister; and
            (b)    satisfy itself in respect of every application that every Cook Islander who intends to be a shareholder or the owner of an equity interest in a foreign enterprise understands the nature and extent of his intended interest in the enterprise.