SOLOMON ISLANDS LEADING REFORMER IN PACIFIC: ADB

Solomon Islands National flag. Photo credit: SIBC.

Solomon Islands National flag. Photo credit: SIBC.

Solomon Islands has been dubbed the leading reformer in the Pacific.

This was according to an Asian Development Bank (ADB) Private Sector Assessment Report for Solomon Islands.

The report was presented in Honiara today by the Lead Economist with ADB’s Pacific Private Sector Development Initiative (PSDI) Dr. Paul Holden and PSDI Gender Specialist Vijaya Nagarajan.

It looks at the business environment, access to investing and obtain finances and commented on policy directives towards the private sector in Solomon Islands.

Lead Economist Dr. Paul Holden told SIBC News in an interview Solomon Islands is being a leading reformer in promoting access to finance, easier to register businesses and improving the performance of its State-Owned Enterprises (SOEs).

Meanwhile, the ADB Lead Economist adds the country needs to step up in assisting businesses to access finance and involving women into the formal economy.

“Having said that there a number of areas where we believe more need to be done in particular in the State-Owned Entreprise area, in particular in assisting businesses to get finance and in particular to bring more women into the formal economy as women are the backbone of the informal economy, they have huge talent and we would like to see then participate in formal businesses or strongly.”

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