Solomon Islands needs a broad investment policy to boost investment in its potential investment sectors.
Prime Minister Manasseh Sogavare made the statement during his contribution to debate the current Solomon Islands Trade Policy Frame Work report in Parliament today.
Prime Sogavare says this ideal investment policy should also be automatic and none discriminatory to any investor.
“But an ideal system Mr. Speaker is one that can apply to a broad range of activities and can be written in our tax laws and regulations that are automatic and non-discriminatory. In other words, Mr. Speaker the system must target sectoral investments, not a preferred investor in a particular sector.”
Mr Sogavare adds this is crucial to enable Solomon Islands to be more internationally competitive in its investment aspirations.
“What is effectively suggested here Mr. Speaker is an incentive regime that is clear, easily understood where there are clearly defined set of rules that allow investors to forward plan and compare Solomon Islands with other countries.”