PM Manele says Solomon Islands economic interest is in the productive sector

By Sharon Nanau

Solomon Islands Prime Minister Jeremiah Manele told Japanese investors the country’s economic interest is in the productive sector.

Prime Minister Manele during the tenth Pacific Islands Leaders Economic Summit (PALM10) held in Tokyo, Japan informed investors of  the country’s economic interests.

The economic summit saw ten Japanese companies and government officials hold talks with PIF leaders to discuss potential economic opportunities that both sides can collaborate on.

Prime Minister Manele told SIBC news his government wants to expand the country’s productive sector base.

He said his governments priority is to revive the economy and this is directly stated in the Government for National Unity and Transformation’s (GNUT) 100-day policy.

“The PALM10 economic summit provided me the opportunity to present to Japanese companies our investment interests. I have indicated that we would welcome investors to come in and explore opportunities in fisheries, mining, agriculture, tourism and the forestry sector.”

Prime Minister Manele explains foreign investment to Solomon Islands is of importance to the economy.

“We are taking steps and measures for example in terms of legislation, we are taking to parliament soon the special economic zone legislation, we are also undertaking tax reforms. These are critical in terms of attracting investment into Solomon Islands.”

The service sector dominates the Solomon Islands economy, accounting for about 57 percent of the Gross Domestic Product (GDP).

The Central Bank of Solomon Islands (CBSI) early this year reported logging remains Solomon Islands’ core industry, accounting for almost two-thirds of export earnings in recent years.

Ends//