The bill is expected to make it easier for local people to conduct business in the island nation. A-D-B supported the drafting of the bill, which was prepared following extensive local consultations in Honiara and the provinces. Regional Director of A-D-B's Pacific Liaison and Coordination Office in Sydney, Australia, Eugenue Zhukov says the new, user-friendly Companies Act will allow individuals in the provinces to form and operate companies without having to travel to the capital, Honiara.The new Act supports the formation of single shareholder companies, and introduces the concept of community companies. A community company may comprise of a women's group, a group of farmers, or landowner groups, among others.ADB's Senior Private Sector Development Specialist, Winfried Wicklein says A-D-B will support the full implementation of the Companies Act to ensure the benefits are enjoyed by all those pursuing business activities in Solomon Islands. A-D-B is also supporting company law reform initiatives in Tonga and Vanuatu.
Comment here or write your own Letter to the Editor.
Disclaimer: Solomon Times Online may edit or delete your comment and cannot guarantee that all submissions will be published or remain online. The comments expressed on these page are those of the authors and do not necessarily reflect the official policy or position of Solomon Times Online.