Right mechanism vital for quality investments: DCGA

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The Democratic Coalition Government for Advancement (DCGA) believes that establishing the right institutional and administrative mechanisms is vital to attract quality investments in the country.

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This is as part of the DCGA’s policy redirection priorities.

A statement from the Government stated that one of the inhibiting factor for attracting quality investment is the absence of appropriate institutional and administrative mechanism.

According to Prime Minister Hon. Manasseh Sogavare, the Government is considering formalising a platform to promote investment through the following mechanisms and arrangements;

•          Special Economic Zones (SEZ)

•          Foreign Policy Advisory Secretariat (FPAS) as a filtering mechanism for credibility of investors

•          Establish Growth Centres and Tax free zones

•          Implementation of PPP arrangements

Further, DCGA believes that support for legal and physical infrastructure development, promote and expand external trade development is also a priority for the country to become a modern state and a functioning economy.

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The DCGA believes that as it invest in education, health and national security; it must also invest in and improve the laws and infrastructure.

In his statement in Parliament last year, Prime Minister Sogavare stated,

“Supporting infrastructure development means new roads, bridges and wharves, and expanded internet.”

According to the Prime Minister, a number of ticket projects are either planned and/or already started such as, the upgrading of the international airport, roads from Kukum to Henderson, the tar sealing of domestic airports, and the construction of wharves and bridges in the provinces.

He further stated, “external trade is critical in the functioning of our economy and we need to understand the composition of output and trade.”

According to the Prime Minister, the government is doing all it can to ensure implementation of trade agreements and pursue new opportunities and markets with diplomatic partners both international and regional to expand trade and investment.

“As a small developing country, Solomon Islands needs all the assistance it can get from our development partners old and new,” he said.

 The Government, through the Ministry of Foreign Affairs and External Trade will extend the country’s diplomatic relations with other countries.

The DCGA is fully committed to the successful delivery of its policy priorities in the interest of national peace and stability and economic advancement.

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