The Solomon Islands Government through the Ministry of Finance and Treasury (MoFT) in partnership with Japan International Cooperation Agency (JICA) under the Japan’s Technical Cooperation has concluded a three-day workshop/ training on Public Investment Management on Economic and Financial analysis on public investments on Thursday 14th July 2022.
The workshop/ training is aimed at improving efficiency of Public Investment Management (PIM) and to enhancing capacity development of government officials in doing project appraisal and selection process. This training course is facilitated by the JICA in response to Solomon Islands Government‘s request for Japan’s Technical Cooperation following MoFT’s intention to establish the Investment Analysis Unit within MoFT.
Speaking during the opening remarks, Mr. Selwyn Takana, Acting Deputy Secretary – Economics, Ministry of Finance and Treasury, Solomon Islands, stressed the important role of MoFT in managing public finances and the contribution that public investments to the economy and service delivery.
“To ensure sustainability of public investment projects, economic and financial analysis of projects appraisal and selection are improved as well as the direction of reform in the Public Investment Management (PIM) process,” Mr. Takana added.
To this end, MoFT is committed to ensuring that public investments are done in systematic way and project proposals are evaluated according to the public financial management and consistent to National Development Strategy.
In acknowledging the timely and importance of the training, Mr. Takana thank JICA for responding positively to the Government’s request for the technical support. Mr.
Takeshi Watanabe, Resident Representative of JICA Solomon Islands Office stated, “public investment provides the foundation of Sustained and Inclusive Economic Growth.” Mr. Watanabe continued,
“This three-day workshop will provide an opportunity for government officials to enhance their capacity in public investment management,” thanking all the participants at the workshop and encouraged them for wise and careful management of public investment in the future.
Public Investment Management is about strengthening the consistency, discipline and sustainability of expenditures management with development planning through public investment planning and management in order to effectively allocate funds and build fiscal foundation that can realize development policies.
Public investment planning and management will also ensure that each public investment projects do not place an excessive burden on public finances and contribute to ensuring debt sustainability. The training brings in together officials from Ministry of Finance and Treasury, officials from Ministry of National Planning and Development Coordination and officials from Ministry of Infrastructure Development.