Tuesday, 15 February 2011 10:57 AM

Government Seeks to Deregulate CEMA

Commodities Export Marketing Authorities CEMA will no longer export copra out of the country when a new investor arrives to operate the Russell Islands Plantation.

Speaking to locals in Russell Islands last week, Prime Minister Danny Phillip assured the people that once the new investor arrives, the government will deregulate CEMA.

He explained that copra throughout Solomon Islands will have to go through Yandina before exported out of the country.

Mr Phillip said this means "every copra produced throughout the country will be sold to the new investor in Yandina, and not CEMA in Honiara."

He said that the NCRA government would also like to see Solomon Islands engaging in large scale down streaming of copra.

Prime Minister Phillip however said that the government will impose a levy for its income from operations at Yandina.

He encouraged resource owners to work with the government to provide an environment conducive to investment.