THE Solomon Islands Government (SIG) will develop a National Economic Roadmap based on the findings of the Economic Summit, other national sector plans and the National Development Strategy 2016-2035.
Minister of National Planning and Development Coordination, Hon. Rexon Ramofafia, announced during a news conference following the National Economic Summit that the government is taking significant steps to address the country’s economic growth.
“This summit is crucial for developing this roadmap to meet our development targets and sharpen our preparations for our graduation from Least Developed Country (LDC) status,” Minister Ramofafia stated. He emphasized that the summit identified challenges and but also covered a lot of opportunities to drive the economy and development in the Solomon Islands.
Hon. Ramofafia added, “The summit deliberations will be presented to the Cabinet, and will among other important factors ensure collaboration and partnership with development partners to bolster the nation’s economy.”
In this connection, MNPDC will also be holding a dialogue with development partners later this month to focus their support on national needs and priorities identified in the Economic Summit.
Minister of Finance and Treasury, Hon. Manasseh Sogavare, reiterated the summit’s importance in identifying primary barriers to economic growth and formulating a tailored National Economic Roadmap.
“The Planning Minister and I participated in all sessions of the two-day summit, listening to presentations and viewpoints from our development partners, private sector and experts who have extensively researched our economy and the challenges faced by all sectors,” Minister Sogavare said.
The anticipated outcome is a robust policy framework to support economic drivers and foster resilient and sustainable growth.
“Our country is blessed with potential, but we must address the flashpoints that impede development,” the finance minister noted, referencing past economic crises, COVID-19, and civil unrest.
The government is poised to redirect budgets and strengthen identified areas and is confident in achieving transformative outcomes.
