Prime Minister Matthew Wale has urged Papua New Guinea and Solomon Islands to turn their long-standing Melanesian ties into a “structured, bankable economic partnership.”
Wale made the call today as he officially opened the inaugural PNG–Solomon Islands Investment Conference in Honiara.
Held under the theme “From Opportunity to Investment: Building the PNG–Solomon Islands Growth Corridor,” the two-day conference brings together businesses and investors from both countries.
Wale said PNG and Solomon Islands must move beyond goodwill and deliver measurable economic benefits for their combined population of more than 11 million people.
He said the two countries share more than a border and have a long history of trade, cultural ties and mutual support.
“Trade across our islands was never a mere transaction. It was reciprocity. It was obligation honoured over generations. It was trust, banked and repaid,” he said.
Wale said the wantok system represents a deep network of trust that can help reduce the cost and risks of doing business.
More than 50 Papua New Guinean companies already operate in Solomon Islands, with investments across banking, telecommunications, transport, agriculture and hospitality.
The investments are estimated at PGK1 billion, or about SBD1.8 billion.
“Capital goes where it expects returns. That figure tells the world that Solomon Islands is investable,” Wale said.
He also highlighted the new direct air link between Honiara and Port Moresby.
The weekly Solomon Airlines service, launched in July 2026, will make it easier to move people, ideas and capital between the two countries.
“Connectivity drives commerce,” Wale said.
The Prime Minister outlined three areas that should guide the economic partnership.
Partnership for Growth
He called for greater investment in agriculture, fisheries processing, tourism, renewable energy and digital services.
“We seek private participation in commercial farming, agro-processing and export development,” he said.
Partnership for Solidarity
Wale said economic growth must also benefit indigenous businesses, women and young people.
He called for more joint ventures, local supply contracts, technical training and pathways for local ownership.
“Joint ventures, local supply contracts, technical training and pathways to local ownership should become normal features of major investments,” he said.
Partnership for Stability
Wale said stronger economies and more jobs would contribute to stability across the region.
“Stability is not imposed from outside; it is built from within, job by job, enterprise by enterprise,” he said.
“Let us redraw that map: from an arc of instability to an arc of stability and prosperity.”
Wale also called for an end to business models that simply extract resources without creating wider benefits for local communities.
“It is time to look at new business models — models that process here, employ here, train here, and share ownership here,” he said.
He said investors must respect Solomon Islands laws, landowners and customary practices.
“Treat tribal land not as an obstacle but as equity,” he said.
Wale said the foundations for stronger economic cooperation are already in place.
These include a Memorandum of Understanding between the Papua New Guinea–Solomon Islands Business Council and the Solomon Islands Chamber of Commerce and Industry, signed in October 2025.
They also include the Framework Agreement on Development and Economic Cooperation 2026–2030, signed by Wale and PNG Prime Minister James Marape in Port Moresby in June 2026.
Wale urged conference participants to move from discussion to actual investment.
He called on PNG investors to build long-term partnerships with Solomon Islands businesses.
“To PNG investors, my message is direct. Solomon Islands welcomes your capital, knowledge and experience,” he said.
“Come prepared to build long-term partnerships. Work with our businesses. Train our people. Respect our laws and landowners.”
Wale said the conference should ultimately be judged by what happens after it ends.
“Success will not be measured by the speeches we make here, but by the investments that follow, the joint ventures established, the indigenous businesses that scale up, the jobs created, and the prosperity generated,” he said.
The two-day conference is jointly hosted by the Papua New Guinea–Solomon Islands Business Council and the Solomon Islands Chamber of Commerce and Industry.
