SOLOMON Islands is a realm of untapped potential for business investment.
Minister for Commerce, Industry, Labor and Immigration, Hon. Harry Kuma made the statement during the 13th Australia-Solomon Islands Business Forum in Honiara.
“Solomon Islands is not just a destination…but a realm of untapped potential investment.”
Presenting on the theme “Business Leading Employment and Export Growth”, Minister Kuma flagged, GNUT continues to implement key strategic initiatives and reforms to “…attract foreign investment for growth”.
The government is working on the streamlining of foreign investment application processes to attract more foreign investors into the country by way of tax incentives and concessional arrangements, the Minister stated.
Mr. Kuma adds, another important component is ‘Infrastructure Development’.
“We are committed to improving our infrastructure, including transport, telecommunications, and energy supply, which are fundamental to creating a favourable investment climate.”
Kuma adds, Capacity Building in enhancing workforce skills through Government and donor support remains a top priority for the national Government.
The Government for National Unity & Transformation is reviewing fundamental bills to accelerate development and economic productivity such as Investment Policy and Law, Value Added Tax Bill (VAT); Mineral Resource Bill, The SME Bill and the Special Economic Zone Bill.
