Director of Foreign Invesment Division, Derick Aihari Welcome to Solomon Islands! I am pleased to invite you all prospecting investors to our shores in 2006 and beyond. I hope as you read this note and browse through our webpage, you will realize that our country see foreign investors as very important development partners for our economic growth.

Opening Statement

The Government of Solomon Islands places private sector investment and development as an important priority in its strategy to achieve self reliance, economic independence and sustainability. In view of this policy, the government sees foreign investment participation in the development of Solomon Islands as an important vehicle to achieve this aim.

Solomon Islands is endowed with abundant natural resources that offer unique investment opportunities with diversified investment potentials in several areas. Foreign Investors who have the capacity and resources to utilize these investment opportunities and potentials are welcomed by the Government of Solomon Islands to engage in productive economic activities that will both benefit the investor and the citizen of Solomon Islands.

With the advent of the new Investment Act 2005 and Regulation 2006, and the propose reform on the country's taxation system, Foreign Investors will be benefiting from a series of investment incentives, clear investment guidelines, undistorted regulations governing foreign investments, investment guarantees, and more importantly, a secure environment for doing business in the country.

Solomon Islands is a member to a number of international and regional organizations, and is a party to many trade agreements that include bilateral and multilateral. Foreign Investors may advance their markets to economies of such countries like Australia, New Zealand, Asia, European Union, Japan, USA, and within the Pacific region through these trade arrangements.

The National Government is cognizant of the inputs of FDI and therefore places high priority for sectoral development and growth. With its long term development vision, investments are encouraged on areas which include but not restricted to the following:

• 1. Off shore fisheries development
• 2. Aqua Culture development
• 3. Manufacturing of goods of all types
• 4. Tourism development
• 5. Commercial farming
• 6. Forestry development, particularly, timber and related products (furniture)
• 7. Mineral Prospecting
• 8. Export oriented productions
• 9. Agriculture development

Consideration of investment projects will be given to genuine investors who are willing to transfer skills and technology, have financial resources, commit to export and also provide for import substitution, employment opportunities and training.

Simultaneously, Investors are encouraged to seek investment incentives covered within the various Acts of Parliament that govern the imposition of these incentives.

Investment projects that falls within priority sectors may have special investment coverage. The criteria to qualify for the different incentives varies but once met, the recipient obtains full benefits which can be a tax holiday , import duty exemption or any other investment incentives packages. Benefits, however, will be dependent on the type of incentive awarded to the potential investor. For more detail and coverage of types of incentives, please contact: Commissioner of Inland Revenue, Department of Finance, PO Box 26, Honiara. Solomon Islands.

Investing in Solomon Islands is safe, free from political interference and although challenging, yet the benefits are comparable to or better than most of the Island nations.

For more information about doing business in the Solomon Islands, please contact:

Registrar of Foreign Investment
Foreign Investment Division
Department of Commerce, Trade & Industries.
PO Box G26
Honiara, Solomon Islands