Prime Minister Gordon Darcy Lilo has announced new actions the government will take to improve the establishment and growth of small business enterprises in the country.
A statement from the Government Communication Unit says one of the immediate tasks is to engage consultants to research and consult with relevant stakeholders on a suitable financial systems where indigenous Solomon Islanders can access capital to undertake small and medium enterprises.
Speaking at the opening of the Isabel Development Company, IDC’s new timber processing facility in Honiara, Prime Minister Lilo said the process will involve a review of existing financial mechanisms and the formulation of the proposed Small and Medium Enterprise Bank in the country.
He said a taskforce will be established shortly to review, evaluate and improve existing and new policies and legislation that will increase opportunities for more business activities in the country.
Prime Minister Lilo added, the government will continue to engage in consultations with all stakeholders on suitable programs where locals can access capital to venture into small and medium enterprises.