Saturday, 8 September 2007 1:39 PM

Capital Investment Needed to Boost Economy: PM

Prime Minister Manasseh Sogavare said that the economic viability of Solomon Islands lies in its ability to attract more investment capital into the rural economic sector.

The Prime Minister made the remark while welcoming a visiting Taiwanese Trade and Investment Mission, currently in the country to explore investment and trade opportunities. Mr Sogavare said the only way to fulfill the prospect of investment attraction was to work closely with such trade and investment missions as that of Taiwan.

He said Solomon Islands was mindful of the fact that it was a small country and, therefore, could not exist alone economically.

"There is very little that we can generate internally by way of our own resources and that is a fact that we Solomon Islanders must accept."

"The only way to move this country forward is to attract more investment capital in the country and to do that we just need to work very closely with you (Taiwanese Trade and Investment mission)."

The Prime Minister said, as endorsed in the Palau Declarations last year by Taiwan and its allies, Solomon Islands was in for a long haul in its relationship with Taiwan and the best way of cementing that relationship was through trade and investment.

Mr Sogavare said the entire world is watching the unique relationship between Taiwan and its 25 allies and it was in their best interest to sustain that relationship through their engagement in long term trade and investment.

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