The Ministry of National Planning and Development Coordination (MNPDC) has successfully completed the validation workshop for the Solomon Islands Least Developed Country (LDC) Graduation Smooth Transition Strategy (STS).
The workshop, held at Heritage Park Hotel on Monday 27th January 2025, brought together key stakeholders, including government officials, development partners, private sector representatives, and civil society organizations.
MNPDC Minister Hon. Rexon Ramofafia, emphasized the importance of a well-structured transition plan to ensure sustainable economic progress post-graduation.
The validation workshop provided a platform for stakeholders to review and provide feedback on the draft STS, reinforcing the commitment to a smooth and inclusive transition.
The STS aligns with the Solomon Islands National Development Strategy (NDS 2016-2035) and incorporates targeted measures to address potential impacts of LDC graduation. Key benefits of graduation highlighted during the workshop include:
- Increased Investment Opportunities: Graduation signals economic stability and can attract foreign direct investment.
- Enhanced Trade Competitiveness: A transition away from LDC preferences encourages diversification and strengthens economic resilience.
- Strengthened Policy Reforms: The STS incorporates structural reforms to improve planning, budgeting, and national development outcomes.
- Infrastructure Development: Major projects, including the Bina Harbour and Tina River Hydro initiatives, will support economic sustainability.
MNPDC Permanent Secretary (Supervising) Mrs Nichola Namo said the MNPDC, in collaboration with the United Nations Economic and Social Commission for Asia and the Pacific (UN ESCAP), will integrate stakeholder inputs into the final STS draft, which is set to be submitted to Cabinet in the second week of February 2025 for endorsement.
“Upon approval, implementation will commence, with a focus on coordinated efforts among government ministries, development partners, and the private sector,” Mrs Namo said.
Following Cabinet approval, the government will engage key development partners to operationalize priority actions identified in the STS. MNPDC will oversee implementation and report progress to the National Development Strategy Implementation Oversight Committee.
Minister Ramofafia reaffirmed the government’s commitment to ensuring a seamless transition and called for continued collaboration from all stakeholders.
“LDC graduation is a catalyst for growth and transformation. Together, we must ensure a sustainable and irreversible graduation process that benefits all Solomon Islanders.
“I would like to express my gratitude for the co-funding support from the United Nations Department of Economic and Social Affairs (UNDESA) and my ministry towards this workshop and would also like to recognize the hard work from my Ministry Staff, the UN-ESCAP Team and the National TA for the work done so far on the STS,” Minister Ramofafia concludes.
- MNPDC
