PM TOLD NZ BUSINESS COUNCIL SOLS HAS SPACE TO INVEST

PM Lilo addressing the New Zealand Business Council yesterday. Photo: Douglas Marau.

PM Lilo addressing the New Zealand Business Council yesterday. Photo: Douglas Marau.

Prime Minister Gordon Darcy Lilo has told the New Zealand Business Council, there is space to expand investments in Solomon Islands.

A government statement said, Prime Minister Lilo met with the Business Council in Auckland, New Zealand as part of his state visit to the country.

The Prime Minister told members of the Council, although there is a slow pace of investment in the Solomon Islands, there is a steady increase, and there remains space for expansion.

He said a significant stock of natural resources like forestry, fish, minerals and natural flora and fauna is in Solomon Islands, but the economic base is quite narrow with a predominant focus on primary production.

The Prime Minister also told the New Zealand Business Council, expansion, and new technology in fisheries, tourism, agriculture, manufacturing, communication technology, transportation and the services industry can provide for a long term investment.

Meanwhile, the Prime Minister says the Political Parties Bill and new biometric voters registration are steps taken by his Government to ensure a more conducive business environment for investors.

Prime Minister Gordon Darcy Lilo also promoted his Prime Minister’s Round Table on Sustainable Growth event to New Zealand business houses.

He said the roundtable identified challenges within important sectors in the country including high costs of business in Solomon Islands, the need for predictable fiscal and non-fiscal incentives, and the need for strong enforcement procedures.

He said the Government’s reform agenda also engages development partners to address some of these challenges.

SIBC News understands following the meeting, members of the New Zealand Business Council have proposed a visit to Solomon Islands in June this year.

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