Economy Archive February 2023

METS advise people in those areas that sea will be very rough with moderate to heavy swells. There is also potential for coastal floodings particularly for Southern parts of Temotu.

Tropical Low Over Parts of Solomon Islands

A special weather advice was issued this morning by the Solomon Islands Meteorological services (METS) for Temotu and Rennell Bellona provinces.
SICCI surveys shows that businesses have lost millions of dollars since the outbreak of COVID-19 lockdowns and recent riot in Honiara. Even with the opening of the borders in July 2022, recovery is slow and risks are still high for business given an already tough business environment before the past two years of disruptions and pandemic.

SICCI Concerned With Increases in HCC License Fees

The increase of rates of business operating license fees in 2023 by the Honiara City Council (HCC) raises concern about the impact on businesses operating in Honiara city and the wider economy.
Police Arrest and Charge 20 Year Old For Double Murder in Malaita Province

Police Arrest and Charge 20 Year Old For Double Murder in Malaita Province

Officers of the Royal Solomon Islands Police Force (RSIPF) at Auki Police Station have arrested and charged a 20-year-old male suspect for a double murder incident that occurred at Manu area, East Fataleka in Malaita Province on 20 February 2023.
Telekom TV and SIBC Sign MOU for Broadcast of Pacific Games 2023

Telekom TV and SIBC Sign MOU for Broadcast of Pacific Games 2023

Solomon Telekom Company Limited’s television service TTV and the National Broadcaster Solomon Islands Broadcasting Corporation (SIBC) have agreed on a carriage relationship to broadcast the new SIBC TV service nationwide on TTV’s transmitters and streaming Application TTV Now.
Participants at the training program held at the Heritage Park Hotel.

UK-Solomon Islands Organise 3-day Workshop on Human Trafficking for Journalists

The 3-day workshop on “Awareness of the Trafficking of Women and Girls in Solomon Islands for Sexual and Domestic Exploitation and Abuse” has begun in Honiara.
Masafumi Yabara was in the country to assess country’s economic health and to forestall future financial problems.

Expenditures Relating to Pacific Games and General Elections Need to be Well Controlled

By Samson Sade
An International Monetary Fund (IMF) team led by Mr. Masafumi Yabara visited Solomon Islands during February 8 to 21 to hold discussions on the 2023 Article IV Consultation.
More than 70 members of ISIA attended the information session that was co-hosted with the Ministry of Finance and Treasury’s Inland Revenue Division (IRD).

New Registration Requirements in Place for Tax Agents

Under the new Tax Administration Act 2022, all tax agents must be registered book-keepers and registered certified practicing accountants with the Institute of Solomon Islands Accountants (ISIA).
CBS Fund interim-committee members after their appointment during the consultation. From left-right, Ishmael Raji, Irene Vouza, Dr Patricia Rodie, and MPA for Ward 9, Malango, Hon. Keith Amosaea.

Establishment of Tina Community Benefit Share Fund (CBSF) on Track

The registration of the Tina Community Benefit Share Fund (CBSF) is on track, following a one-day consultation and the appointment of an interim-committee in mid-February 2023.
The programme aims to foster cooperation and information exchange between the two Financial Intelligence Units (FIUs) and specifically focus on strengthening SIFIU’s analysis, supervision and management capacities.

Attachment Programme to Foster Cooperation Between Financial Intelligence Units

The Solomon Islands Financial Intelligence Unit (SIFIU) is upgrading its capability to counter corruption and money laundering through an attachment programme to Papua New Guinea’s Financial Analysis & Supervision Unit (FASU).
“So, if what is alleged is true, then we will have a process where we will talk directly to the employer of the person that used scholarship funds for something else, like working under a seasonal program,’’ CEO Nasi said.

SIG Scholarship Committee Investigates Allegations

By Jimmy Nolan
Investigations into the misuse of scholarships awarded by the Solomon Islands government (SIG) will soon be conducted by the Solomon Islands Tertiary Education and Skills Authority (SITESA).
“As Copen is so prevalent in school-aged children, the seminar provided the chance to hear from school representatives and gave the opportunity to plan the implementation of a school-based Copen awareness program for Primary and Secondary schools in the Honiara district.”

Copen Remains Highly Prevalent in School Aged Children

The Royal Solomon Islands Police Force (RSIPF) and Australian Federal Police Policing Partnership Program (RAPPP), held a seminar that focused on Copen Awarenes at Rove Police Headquarters recently.
Central Honiara Constituency (CHC) is funding the 40mx80m standard soccer field project with its Constituency Development Fund (CDF) allocation provided by the government and facilitated by the Ministry of Rural Development (MRD).

Matariu-Jericho New Soccer Field Nears Completion

Youths of Matariu and Jericho, two of Honiara’s most densely occupied city suburbs, will soon have a brand new, state-of-the-art soccer field on their doorstep.
Announcing the sponsorship, CEO Solomon Airlines, Gus Kraus said the airline was proud to support and team up with GOC in ensuring that this year’s Sol2023 Pacific Games is a success.

Solomon Airlines An Official Sponsor of Pacific Games 2023

Solomon Airlines is the latest Solomon Islands company to team up with the Sol2023 Pacific Games(PG) as an official sponsor.
The Office of the Auditor General (OAG) is one of the key accountability institutions established under the Solomon Islands Constitution.

Auditor General Calls for Strengthening of Procurement Processes in Light of COVID-19 Audits

The Auditor General has issued a special thematic audit report calling on the Government to strengthen procurement processes after compliance audits of three key ministries uncovered a series of problematic procurement practices in their management of $90 million COVID-19 response funds.
The public opening of tenders was held at the MoFT leaf hut last Thursday. Assessment/evaluation of all submissions are underway and would take up to two or three weeks.

Assessment of Preferred Suppliers for Constituency Projects Underway

Preferred Supplier Arrangement (PSA) public tenders for the supply of goods to the government through the 50 constituencies is currently underway.
Participants at the SICCI organized information session.

SICCI Hosts Information Session on Tax Administration Act for Businesses

The Solomon Islands Chamber of Commerce and Industry (SICCI) in partnership with the Inland Revenue Division (IRD) on Wednesday 1 February 2023 hosted an Information Session for businesses focusing on the Tax Administration Act.
The nationwide MDA is recommended following a scabies prevalence survey conducted in 2021 that reported more than 23% of the Solomon Islands population live with scabies in the communities.

Fight Against Scabies Reaches 50% of Solomon Islands Population

The nationwide rollout of the Mass Drug Administration (MDA) against scabies is progressing well.
L-R Dr Gregory Jilini Deputy Secretary Health Care, Health PS Mrs. Pauline McNeil, Health Minister Dr Culwick Togamana and Australia High Commissioner to SI Mr. Rod Hilton shaking hands, Counsellor Human Development, Mr Mika Kontiainen and Director Policy and Planning Mr. Ivan Ghemu.

Health Minister Meets New Australian High Commissioner to the Solomon Islands

Health Minister Hon. Dr. Culwick Togamana and his officials met with the new Australian High Commissioner to the Solomon Islands, His Excellency, Mr. Rod Hilton in a courtesy meeting, on Friday, 10 February.
Tina River Hydro CBSP sponsored students, Rita Soloni and Emelda Bineth (in blue shirts) with their colleagues at the SINU-owned Lokol Fusion Café & Bar, where they are currently doing their internship.

Tina Hydro Project Sponsors 52 Students

Classes are ready to commence for 52 students from catchment communities sponsored by the Tina River Hydropower Development Project (TRHDP) under the Community Benefit Sharing Project (CBSP).
“People in those areas should take precautionary measures as such strong winds and weather conditions have the potential to impact lives and properties."

Strong Wind Warning for Parts of Solomon Islands

The Solomon Islands Meteorological Services (METS) has issued a strong wind warning this morning.
The Ministry advises that it may take a few more weeks before a decision is made by the Land Board.

4,200 Tenders Received for 360 Lots in South Honiara

People are clearly desperate for formally registered land in Honiara. The Ministry of Lands, Housing and Survey has revealed that 360 Lots of land in South Honiara were put up for tender late last year – 4,200 tenders were received.
PM Sogavare delivering his speech at the opening of CEMA's two new storage facilities at Point Cruz.

Sogavare Pushes to Revitalize Agriculture

Prime Minister Hon. Manasseh Sogavare has called on concerned government ministries to continue to support Commodities Export Marketing Authority’s 7 years revitalization and recapitalization strategy.
PM Sogavare in the middle flanked by (from L- R) Solomon Commodities CEO, Patteson Siliota, PS Commerce Riley Mesepitu, CEMA Boad deputy chairman, Belani Tekuku and PS Agriculture Lottie Vaisekavea

Solomon Islands Cocoa Trial Shipment to the Emirates

Solomon Islands cocoa is set to enter the lucrative Emirates market. Pakera Cocoa and Copra Buying Center in Makira Ulawa Province sets history, as it becomes the first Province and buying center whose copra product will be sent to United Arab Emirates as trial export.
To understand the threat of ammonium nitrate emulsion, one needs to understand that this is the same compound that caused the explosion in Beirut, the Lebanese capital city, which resulted in 190 fatalities and more than 6,000 wounded.

Villagers Call on Authorities to Investigate and Remove Dangerous Explosives

By Jimmy Nolan
There are fears dangerous explosives stored carelessly and with no regard for the safety of villagers in Ruaniu, northeast Guadalcanal, could wipe out the village if it explodes.
The Solomon Islands Meteorological Service said there was no tsunami threat to the country.

No Tsunami Threat After 5.0 Quake

By Jimmy Nolan
The Solomon Islands Meteorological Service says there is no tsunami threat after a 5.0 magnitude earthquake hit Malango on Guadalcanal, approximately 27 kilometres west - southwest of Honiara.

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