GNUT invests AUD 250M into infrastructures development in strategic move to create a conducive investment environment
THE Government for National Unity and Transformation (GNUT) has announced a substantial AUD 250Million investment into the national infrastructure sector over the next 10 years.
Prime Minister Jeremiah Manele announced this at the opening of the 13th Australia- Solomon Islands Business Forum in Honiara on Tuesday morning.
“We are investing heavily in infrastructure through the Solomon Islands Infrastructure Program (SIIP), a commitment of AUD 250 million over 10 years. This program will improve our roads, ports and telecommunications, creating the backbone for economic activity and facilitating easier access to both local and international markets,” PM Manele underscored.
PM Manele said GNUT also allocates resources to agriculture- cocoa, coconut, and fisheries with the ultimate aim of not only meeting domestic needs but contribute to the national export economy.
“Investors can be rest assured, a conducive investment environment is being created.
“This includes regulatory reforms aimed at reducing bureaucratic hurdles, protecting investors, and ensuring transparency. We are also offering various incentives, such as tax breaks and subsidies, to attract both local and foreign investors to key sectors of our economy.”
PM Manele added that GNUT is on course to reducing poverty, improving living standards and creating an environment where businesses can thrive adding, the private sector is at the heart of this transformation.
“In the face of global uncertainty and having learned from COVID 19, GNUT is implementing a series of measures to stabilize the economy, support businesses and protect jobs during challenging times.
“The government is also taking ‘business incentives’ to a whole new level by streamlining business registration process, tax holidays and access to special economic zones to improve investment climate,” he added.
PM Manele said he believes Solomon Islands can achieve its goals in partnerships such as the Australia- Solomon Islands Business Forum, regional and international cooperation and Public-Private Partnerships.
“Engage with our government, explore the investment possibilities, and partner with us in building a brighter future for the Solomon Islands,” he emphatically added.
In her remarks to open the forum, the Solomon Islands Chamber of Commerce Chairlady Namoi Kalu’ae resounded the need for the government to continue to deepen ties with Australia, saying this will provide for closer working relationship between the private sectors of both countries.
The 13th session of the Australia-Solomon Islands Business Forum enables government representatives and members of private sector of both Australia and Solomon Islands to engage in constructive dialogue and discussion.
- OPMC
