ADB logo. Photo credit: ADB.

ADB logo. Photo credit: ADB.

Solomon Islands is leading the Pacific region in successfully reforming its state-owned enterprises (SOEs).

The Asian Development Bank (ADB) unveiled this revelation in its report presented in Honiara today.

This improvement follows a program of increased privatisation, public-private partnerships (PPPs), financial restructuring and efforts to place SOEs on a sound commercial footing.

Solomon Islands has overseen a 21 percent turnaround in return on equity from SOEs, turning an average loss of 11 percent between 2002-2009 into an average return of 10 percent in 2010-2012 for the past five years.

Meanwhile, State Own Enterprise Specialist and one of the report’s co-author Laure Darcy says the reforms enable Solomon Islands to enjoy various benefits including improved service delivery, reduced costs, and more opportunities for private investment.

SIBC News understands the report’s findings and recommendations topped the agenda of Solomon Islands State Owned Enterprise Forum today in Honiara.

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