The Prime Minister says the Democratic Coalition for Change (DCC) Government will tackle the bottleneck in new investments.
Media Consultant in the Office of the Prime Minister and Cabinet, Alfred Sasako writes in today’s Solomon Star newspaper – the Prime Minister says this will be done through the creation of free economic zones in strategic areas around the country.
Sasako writes special legislation to create these free economic zones is being drafted.
These free economic zones would carry investment incentives such as tax holidays and duty exemptions.
The Prime Minister adds incentives will be packaged according to each sector or industry.
He says this would give the investor opportunity to select from a regiment of the investment packages in line with his company’s activities.
Existing legislation will be amended so that there is uniformity in the provisions of the new legislation.
The Prime Minister says the Government must be creative in order to move forward and the creation of special economic packages is the way forward.
The proposed legislation is expected to be introduced in the June-July session of Parliament.