Tuesday, 23 February 2010 12:02 PM

Government Seeks Korean Investor for Fisheries

The Government is well in advance into talks with a reputable Korean global fishing company to invest in a new cannery here.

Minister of Fisheries, Nollen Leni on Friday has announced this new project on Friday which cabinet has earlier endorsed.

The cannery is expected to employ approximately 3000 Solomon Islanders and attract other credible investors into the country.

The national government appreciates the importance of investment led development and of a policy environment that enables the practical application of developments.

"My Ministry has been working on incentives to attract fisheries investors to our shores and last week Cabinet endorsed our work," Mr Leni said.

Among other highlights of the Ministry, Mr Leni said his team was also instrumental in turning Soltai around and setting it on the path to profitability.

Soltai is now pumping $SBD15 million a year in the form of wages and over the next 12 months the figure will likely rise by a further 50%.

In the past two years, the Ministry has more than doubled access fee revenue from foreign fishing vessels and now contribute some $SBD110 million to consolidated revenue.

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