Economy Archive March 2014

Tuamoto Supports Need for Improved Tourism Data Collection

The Solomon Island Visitors Bureau (SIVB) CEO, Josefa ‘Jo’ Tuamoto has echoed his South Pacific Tourism Organisation (SPTO) counterpart’s comments underlining the role data and statistics can play in determining a country’s economic direction.
Mr Fanega added that Government is looking at streamlining the procurement requirements and processes to ensure efficient and effective implementation of CDF projects.

CDF Spending to Be Guided by New Laws: Fanega

The Permanent Secretary of Finance and Treasury, Mr Shadrach Fanega on Friday has confirmed that the implementation of the Constituency Development Funds (CDF) will be done in accordance with the requirements of the new Public Financial Management Act (PMFA) and its subsidiary financial instruments.
"Any profits that are made are retained and used for a particular community purpose and that community purpose needs to be defined by the company."

New Business Model Introduced in Solomon Islands

A new business model has been introduced in Solomon Islands, specifically designed to take account of Melanesian culture.
The World Bank approved the cash for the Solomon Islands Electricity Authority (SIEA) on Friday.

SIEA Gets SBD$100m to Boost Power Access

The Solomon Islands’ national power utility is getting an extra SBD$100m to improve its power networks for residents.