by Georgina Maka’a
Prime Minister Matthew Wale has called on business leaders to partner with the Government in driving its “national economic transformation”.
Speaking at a Solomon Islands Chamber of Commerce and Industry (SICCI) event last night, the Prime Minister announced the upcoming launch of the GREAT Coalition Policy Statement – a roadmap focused on Growth, Reform, Empowerment, Accountability and Transformation.
“Our priorities are aimed at strengthening economic growth, encouraging investment, supporting enterprise, and creating opportunities for all Solomon Islanders,” Wale said.
He also told SICCI members that tackling corruption is essential to building a stronger economy.
“Corruption undermines investor confidence, distorts competition, increases the cost of doing business, and weakens public trust.”
The Prime Minister urged businesses to report corruption through the appropriate channels and reject practices that undermine transparency and accountability.
“A strong economy must be built on trust. Integrity is not only a moral obligation; it is an economic necessity,” Wale said.
He acknowledged that many Solomon Islanders are struggling with the rising cost of food, transport, housing and utilities.
Wale urged businesses to avoid excessive profit-taking during this difficult period.
He also revealed that the Government is engaging with Solomon Water, Solomon Power and telecommunications providers to ensure essential services remain reliable and affordable.
“The same message applies to the financial sector.
“When the cost of borrowing and access to finance become too high, they constrain entrepreneurship, discourage investment, and limit opportunities for growth.
“Too many indigenous Solomon Islanders have been left out of economic opportunities in their own country.
“To address this, the Government plans to give indigenous businesses the first opportunity to secure government contracts where they have the capacity to deliver.
“This is not about excluding others. It is about creating a more inclusive economy where local businesses can grow and contribute more meaningfully to national development,” he said.
Wale said Solomon Islands must move away from its long-standing reliance on exporting raw logs and other unprocessed resources.
“That model must change,” he said.
“If we are serious about creating jobs, increasing incomes and building long-term economic resilience, we must progressively move up the value chain.”
He encouraged businesses to invest in value-added industries, including manufacturing, agricultural processing and fisheries, to create more local jobs and retain greater economic value within the country.
The Prime Minister said the Government cannot transform the economy on its own.
He called on the private sector, churches, communities and development partners to work together to achieve the country’s development goals.
“Together, we can build an economy that is more productive, more resilient, more inclusive, and one that delivers tangible benefits and opportunities for all Solomon Islanders.”
The GREAT Coalition Policy Statement is expected to be released in the coming weeks.
