Thursday, 18 February 2010 9:46 AM

State Will Intervene to Broaden Economic Base: OUR Party

OUR Party has pledged to direct public investment in tourism, agriculture, and fisheries to support the efforts of the private sector under a reformed fiscal strategy.

Leader of Opposition and Interim President of the Party Manasseh Sogavare says this is a move away from the "hands off leave it to the private sector strategy advanced by the International Monetary Fund and the World Bank."

"The strategy advised by IMF and World Bank has been with us for many years but did very little to open up the rural economy and attracting genuine investors to engage in credible activities," said Mr Sogavare.

Mr Sogavare says OUR Party will implement a foreign investment strategy "that will attract the right kind of investors into the country, targeting the strengths and potentials of the country in the rural areas."

He says the present system can be described as a "standalone system" that often misguides credible investors.

Mr Sogavare says to facilitate the above decentralization strategies must be undertaken. He says that OUR Party is committed to undertaking "a comprehensive reform and overhauling of the country's macro and micro economic strategies, including institutional arrangements."

He says OUR Party will pursue the implementation of a comprehensive people-centered; rural-focused; and growth-oriented micro-economic development strategy.

Mr Sogavare says this will be under the Bottom-Up concept, which is to use the strengths of the country which lies "in our resources and vast areas of agricultural land."

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