Economy Archive September 2013

Solomon Islands is an important supplier of tuna, however, three-quarters of the catch is taken by foreign boats under licensing agreements and processed in other countries.

IFC Invests US$10 Million in Solomon Islands’ Tuna Industry

IFC, a member of the World Bank Group, will lend US$10 million to SolTuna Limited, a tuna processor located in Solomon Islands, to support expansion of capacity and enable the local economy to benefit more from the income generated by the tuna industry.
Mr. Yourn says that there is certainly alot of work to be done in improving the environment, but he says “it is a friendly environment, and there is certainly alot of potential in the tourism industry, which does have the potential to replace the logging industry.”

Investors Urged to Look to the Solomon Islands

The Australian Pacific Islands Business Council is organizing a forum in Brisbane next month, bringing together business leaders in Australia together with Solomon Islands officials in an effort to show that the country is open for business.
Landowners have welcomed the Report, stating that it should result in the prosecution of those involved.

Gold Royalty Embezzlement Report Presented to PM

Prime Minister Gordon Darcy Lilo was presented the Gold Ridge Royalty payment investigation report this afternoon.
Mr Lilo reminded athletes that the Solomon Games is not only about winning but it is also the spirit of sportsmanship and comradeship.

PM Officially Opens Solomon Games

Prime Minister Gordon Darcy Lilo has officially opened the 5th Solomon Games in Tulagi, Central Province yesterday.

Police on the Hunt for Looters

The Guadalcanal Provincial Police in Solomon Islands have arrested a man in relation to a looting incident, where equipment worth over SBD$3 million (US$420,000) were stolen.
Ferguson Vaghi program co-ordinator for the landowners group in Western Province, told Pacific Beat the logging company had not gone through the proper procedures to obtain a logging licence.

Landowners Win Logging Injunction in Court

Landowners in the Solomon Islands have successfully taken action in the High Court to stop logging in the country's biggest conservation area.

Provincial Government Funds Released

The National Government through the Ministry of Provincial Government and Institutional Strengthening (MPGIS) has released a SB$16.1 million Provincial Capacity Development Funding for Provincial Governments that are qualified for the funding.

Government Refutes Claims by Transparency International

The Solomon Islands Government says a statement issued by Transparency Solomon Islands about a bill to establish an Independent Commission Against Corruption (ICAC) being tabled in Parliament early next year is misleading.
The Solomon Islands university is in replacement of the former Solomon Islands College of Higher Education.

Government Owes University Millions

The Solomon Islands National University's School of Education has closed most of its facilities and services to students funded by the Government.
A Barge landing onto a community wharf in Kolobangara in the Western Solomon Islands.

Community Fights Against Logging Operations

Landowners on Kolombangara Island have successfully taken action in the High Court to stop logging operations and protect the Solomon Islands largest conservation area.

Honiara Hosts Regional Tax Meeting

Solomon Islands Commissioner of Inland Revenue, Mark Bell has welcomed regional delegates and observers to the 10th Anniversary meeting of the Pacific Islands Tax Administrators’ Association (PITAA) to Honiara yesterday.

Lilo to Receive Report on Gold Ridge Royalty

Report on the investigation into the payment of the royalties to Gold Ridge landowners is expected to be presented to the Solomon Islands Prime Minister by the end of the week.

Fiji Hosts Look and Learn Team

A joint look and learn team comprising officials from the Solomon Islands Ministry of Provincial Government, the Choiseul Provincial Government and the Ministry of Lands, Housing and Survey have left for a mission in Fiji.
General Manager of Varivao Holdings, Dudley Longamei and IACT Team Leader, Samu Turagacati shake hands during the handover of machines as part of IACT's assistance.

Local Company Reaches New Heights

Varivao Holdings Limited, a coffee exporter from the Solomon Islands, has significantly improved its production level with support from the European Union (EU) and the Secretariat of the Pacific Community through the EU-funded Increasing Agricultural Commodity Trade (IACT) project.

Gizo Flights to Resume

Solomon Airlines has announced that flights to Gizo in the Western Province will recommence on September 22 following the scheduled completion of work on the Nusatupe airstrip.

Sort Out Your Differences: SICCI

The Solomon Islands Chamber of Commerce and Industry is calling on the Government, Opposition and Civil Society groups debating over the media to sort out their differences and put the issue to responsible authorities.

Businesses for Indigenous People Looked Into

The Solomon Islands Ministry of Commerce, Industry, Labour and Immigration says it is investigating allegations that foreigners are finding ways of running businesses reserved for indigenous people.