The government is committed to creating a vibrant private sector through regulatory and legislative changes.
Prime Minister Jeremiah Manele said in his remarks at the Solomon Islands Chamber of Commerce and Industry’s (SICCI) 8th Business Excellence Awards (BEA) over the weekend.
He emphasized that creating an improved landscape for vibrant private sector growth is at the core of the current government’s policy.
“In its endeavor to reduce the cost of doing business, the Government is accelerating investments in green energy and affordable electricity,” Prime Minister Manele announced.
He said stakeholders have issued instructions to reduce electricity tariffs by 25 percent over the next three years.
The Prime Minister also encouraged active participation from the private sector as the government advances its energy transition plan.
Prime Minister Manele revealed that a regulatory framework is being developed to liberalize the energy sector and encourage independent power producers.
He announced the government is also advancing its flagship projects to accelerate investments in key economic infrastructure.
Manele also said projects like the Honiara road to improve connectivity are ongoing in the western side of Honiara, eastern Honiara near Ranadi, and along the stretch from Henderson to Barande.
He expressed appreciation as the government, in collaboration with donor partners and contractors, worked to complete the job on time.
“Other projects involving the repair and construction of new wharves, bridges, roads, and airports are ongoing, while others are set to commence across the country,” Manele said.
Prime Minister Manele further highlighted that the government, through the Ministry of Commerce, Industry, Labour and Immigration is working closely with the private sector to promote product accreditation and certification in partnership with food technology and cosmetics processing, as well as the manufacturing of raw and processed commodities for local and expanded markets.
He added that by improving the business landscape, the government is also advancing the tax reform agenda to ensure a robust and efficient tax system.
The Prime Minister revealed that the taxation legislation to address inconsistencies in consumption taxes has progressed, and once administered, it will promote fairness, neutrality, and simplicity in the tax system.
Manele further stated that the Special Economic Zone Bill has been tabled in Parliament and will attract investors to the Solomon Islands.
The 8th Business Excellence Award ceremony was held over the weekend at the Aquatic Center, King George.
Guadalcanal Plains Palm Oil Limited won the Prime Minister’s Award during the BEA. This biennial event allows SICCI to award its members who have excelled in their respective business undertakings.
(Source: OPMC Press)
